Florida Property Values
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There were 6,000 fewer homes for sale since the start of 2011, says David Welch.
Declining inventory is fueling modest price increases in Orlando and occasional bidding wars in some areas where homes are in short supply. “If you go back to the beginning of 2011, we had 15,000 properties available for sale. We’re starting 2012 with 9,000. It’s a pretty big deal,” says David Welch, an agent with RE/MAX 200 Realty. Homes in the under-$200,000 category, he says, are in particularly high demand. Orlando has approximately a three-month supply of homes in the $100,000-to-$200,000 range and less than a three-month supply in the under-$100,000 range. A five- to six-month supply of homes indicates a balanced market. More than half of the 29,000 home sales in Orlando last year were cash deals.
What will $200,000, $500,000 and $1,000,000
buy in Orlando?
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