Investor · Orlando, FL · Member since 2009 · 978 posts · 39 votes
More buyers snap up homes before possible interest rate increase
Buyers continue to gobble up Florida’s declining single-family home inventory.
Here in Orlando, sales of single-family homes increased by 10.6 percent, going higher than the statewide average. Condo sales increased 18.4 percent, as previously reported by Orlando Business Journal.
Sales of single-family homes statewide totaled 25,921 last month. Of that amount, 2,707 were in Orlando.
Florida Realtors President Maria Wells attributes the strong sales to higher demand and motivated buyers taking action before interest rates can rise higher. The interest rate for a 30-year fixed-rate mortgage averaged 4.2 percent in March 2017, up from 3.69 percent a year ago, according to Freddie Mac.
The statewide median sales price for single-family existing homes last month was $231,900, up 10.4 percent from the previous year, according to the Florida Realtors.
Orlando’s overall median home price is $217,000, 11.3 percent above the March 2016 median price of $195,000, about $15,000 below the national average.
Investor · Leander, TX · Member since 2016 · 296 posts · 402 votes
9y
Why Invest in Orlando, FL
Orlando is located in the center of Florida and is the state’s largest inland city. Often recognized for the tourism gained through Disney World and other theme parks in the area, Orlando draws over 62 million visitors per year. The University of Central Florida is located here as well as a thriving downtown business district with over 19 skyscrapers.
This vibrant city continues to expand to meet the demands of the tourism industry as well as the flourishing business community. As a leader in the film, television, and the video game industries, Orlando proves that is more than just a city with a theme park, it is a place to live, work, and invest.
General Facts
3rd most populous city in Florida
26th largest metropolitan area in the U.S.
Due to the plethora of tourist attractions, it is consistently one of the most visited American cities
Ranks in the top 25 of the most literate cities in America
Strong tech hub
On 2014’s 100 Best Places to Live (Livability.com)