This is one of my favorite questions I often get from my friends and previous customers. Right this moment I would say: ATTENTION PROSPECTIVE BUYERS! For the first time in several years, Orlando is seeing a price stabilization over this summer season. For instance, the overall median price of Orlando homes sold this past July was $235,000. This is a 6.7% increase compared to July 2017, when the median home price was $220,000. But, if we compare the July 2018 numbers with the median home price this past June, we then see a decrease of 1.3%.
Despite this slight market “deceleration”, in my opinion, there are still many opportunities out there for buyers and sellers. The market is balancing itself.
According to the latest statistics provided by the Orlando Regional Realtor Association (ORRA), the median home price in Orlando has increased between 6-7% on a year over year comparison.
The real estate market changes constantly. I believe that the best time to buy or sell is whenever it works for YOU. Additionally, each neighborhood behaves differently and is always best practice to consult with a local professional who understand what’s happening in the particular local market segment.
In conclusion, there still room for home appreciation, just at a lower pace. Opportunities are out there waiting for you!