Orlando among top-performing US property markets
Three Florida metros are among the top performing housing markets in the United States, new figures reveal, and Orlando is among them.
The Orlando area, which includes Kissimmee and Sanford, saw home prices rise 11.6% from August-September 2015, compared with the same time in 2014 — placing Orlando second on the list from national brokerage, Owners.com.
When you compare this to the national average for home price growth — which according to the S&P/Case-Shiller Index is roughly 4% to 5% annually — you can see that Orlando has enjoyed a big in the period of the study, it says.
The data included sales of single-family homes above $50,000 from metro areas and showed that midsize cities outperformed larger markets, including New York.
Secondary markets have benefited greatly from the housing recovery says Steve Udelson, President of the Owners.com.
"This data suggests that secondary markets such as Orlando and Denver have benefited greatly from the overall housing recovery with price gains significantly above larger markets.
“With the spring real estate season around the corner, consumers who are planning to be in the market next year will want to keep an eye on these markets to make savvy buying or selling decisions."
Garrett Kenny, Chief Executive Officer of top Central Florida developer and agent, Feltrim Group, says, “It’s not only Orlando property prices that are rising, so is demand, too, from those looking for vacation homes, buy-to-let investment and retirees.
“The fact that the Orlando area is the second best performing market in the United States shows just how buoyant the market is.
“Even so, values are still way below peak prices and the market looks set to keep on rising for some time to come.”
With tourism numbers hitting record highs each year and world-class attractions constantly being added to Disney, Universal and other theme parks and attractions in the area, more people than ever are seeing all that the area has to offer, says Mr Kenny.
Among Central Florida developments in which real estate investors are showing strong interest is Feltrim Group’s Balmoral at Waters Edge.
The luxury lakeside development is set in within a 113-acre private gated community featuring natural and man-made lakes and impeccably landscaped gardens and parks.
The beautiful garden-themed community, just south of Orlando features exclusive Tuscan-style architect-designed homes.
Balmoral at Water’s Edge features a host of top-class leisure facilities, including a resort-style pool with luxury clubhouse, mini waterpark, lakeside beach, gym and spa, gourmet kitchen, restaurant and more.