Posted on: January 16, 2014
If you are interested in purchasing a Florida investment property, you should review the latest housing statistics infographic from the Orlando Regional Realtor Association provided below. The Orlando area is well positioned for growth and economic development and we can see an improvement over just the last few months.
Overall, property sales for September 2013 were up 5% over last year while the median price of property in Florida increased 24% to $155,475 during the same period.
Normal Sales (not foreclosure or short sales)
A close examination of sales show that normal sales have increased by 40% over the last year, while foreclosure and short sales in Florida have decreased by 20% and 35% respectively.
The significant decline in short sales (-35%) can be attributed to low overall inventory of short sale listings (-36%). The number of new short sale listings has dropped by 39%. The decline in short sale inventory and new listings have caused the median prices to increase by 30%.
Foreclosure sales are down from last year by 20% which has led to an inventory increase of 54%. Even though inventory is high, median prices have risen by 19%, suggesting that the Orlando economy is improving and housing values are increasing. High volumes of foreclosure inventory means there are many properties to choose from which offers a great opportunity for Canadians to invest in Florida property.
Statistics show that the Orlando housing market is rising slow and steadily; with favourable growth rates, and deals still available, now is the time to invest in Florida real estate.
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