Orlando Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

April 16, 2019

Flips Slip 3 Percent


*Information provided by Realtor magazine 

Posted in Tips
April 9, 2019

9 Tips for buying a vacation home

Owning a vacation home in Florida can be a dream for people all over the world but unfortunately, a lot of people jump into the idea without asking themselves what they want from their investment. Below you will see a list of 9 tips and questions you will need to consider before purchasing your dream home.

With over 20 years experience in the Disney vacation market, please ask us any questions regarding the home buying experience and all things real estate in Florida. Visit our home buyer article at https://www.dudleyeliterealty.com/c/Foreign-Buyers-Step-by-Step-Guide

Search all the vacation homes here 
https://www.dudleyeliterealty.com/fl/disney-homes-search/

April 3, 2019

Disney Real Estate Market Update March 2019

Welcome to March 2019 Disney real estate market update. 

Prices remain the same as in 2018 as sales increase for the first time since November.

In March we saw the average sales price remain the same as March 2018 at $230,000. Inventory has declined 4.19% to 2,004 compared to last year 2,088. 605 homes sold in the month of March, compared to 594 in March 2018 a 1.8% increase.

Summary
As we reach March, the median price of $230,000 remains the same as of March 2018. This is a $10,000 price decrease from last month but still a positive sign as we haven't seen a year over year price decrease since the crash 2007. Inventory slightly decreased in March by 4.19% but the highlight and attention should be drawn to the sales as they increase by 1.8%, the first increase since November 2018. This tells us that the market is heating up as expected for the busy months of Spring.

If you're looking to sell your home in Florida this could be a great opportunity for you to take advantage of the decreasing inventory and rising prices. If you're an international seller in the U.K then be sure to keep an eye on the low exchange rate.  If you're looking to purchase a new home, take advantage of the low-interest rates and purchase before prices rise even higher. Contact us today for more information on the Disney, Davenport, and Kissimmee markets or click here to start your search.

 

Posted in Market Updates
March 26, 2019

Emerald Island Resort, a Disney Community


Emerald Island | Kissimmee
Single Family Home & Townhouse Community

Price from Low $150's to Low $400's

- 3-7 Bedrooms
- 1 & 2 Story Homes
- 3 Bedroom Townhouses
- 2 Car Garage
- Single Family
- Swimming Pool
- Good Disney Location
-$$$-$$$$

For all the latest listings, sales statistics, school ratings and everything at Emerald Island

www.dudleyeliterealty.com/fl/kissimmee/emerald-island/

March 26, 2019

February 2019 Orlando vs Disney market report

Welcome to the February 2019 real estate market report for both residential Orlando/ Central Florida and the Disney vacation market of Davenport/ Kissimmee.

Median prices in both Orlando and Disney vacation homes are up yet again...

February by the numbers

  Orlando/ Central Florida Disney Kissimmee/ Davenport
Median Price $235,000 3% $240,000 5%
Sales 12,402 -5%  418 -14.6%
Inventory 8,194 6% 2,064 -7.9%
Interest Rate 4.34%* 4.34%*

*Compared to February 2018
Based on 30-year fixed rate mortgage

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Orlando Real Estate Market

Orlando's median home price and inventory rise while sales decline in February 

The Orlando housing market saw its median price continue a years-long upward trek with an economically healthy 3 percent year-over-year increase in February. Sales dipped a fraction and inventory increased for the fourth consecutive month, just in time for the start of Orlando’s homebuying season. 

“March and April typically herald the beginning of our most active period, when a great many prospective buyers begin getting serious about being settled into a home before the new school year,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “Despite a decrease in year-over-year sales, greater inventory combined with moderated prices and interest rates that are at historic lows is expected produce our traditional uptick in springtime homebuying.”

Median Price

The overall median price of Orlando homes (all types combined) sold in February is $235,000, which is 2.6 percent above the February 2018 median price of $229,000 and 3.5 percent above the January 2019 median price of $227,000. 

Year-over-year increases in median price have been recorded for the past 92 consecutive months; as of February 2019, the overall median price is 103.5 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in February remained stable over February 2018 and is now $249,900. The median price for condos increased 13.3 percent to $137,000.

The Orlando housing affordability index for February is 131.64 percent, down from 136.05 percent last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)

The first-time homebuyers affordability index decreased to 93.61 from 96.74 percent last month.

Sales and Inventory

Members of ORRA participated in 2,402 sales of all home types combined in February, which is 5.4 percent less than the 2,538 sales in February 2018 and 23.2 percent more than the 1,950 sales in January 2019.

Sales of single-family homes (1,865) in February 2019 decreased by 2.9 percent compared to February 2018, while condo sales (261) decreased 12.9 percent year over year.

Sales of distressed homes (foreclosures and short sales) reached 104 in February and are 26.2 percent less than the 141 distressed sales in February 2018. Distressed sales made up just 4.3 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in February (8,194) represents an increase of 6.3 percent when compared to February 2018, and a 0.6 percent decrease compared to last month. There were 4.6 percent more single-family homes and 29.0 percent more condos, year over year.

Current inventory combined with the current pace of sales created a 3.4-month supply of homes in Orlando for February. There was a 4.2-month supply in January 2018 and a 3.0-month supply in February 2018.

The average interest rate paid by Orlando homebuyers in February was 4.34 percent, up from 4.32 percent the month prior.

Homes that closed in February took an average of 62 days to move from listing to pending and an average of 35 days between pending and closing, for an average total of 97 days from listing to closing (down from a total of 98 days the month prior).

Pending sales in February are down 15.1 percent compared to February of last year and are up 17.0 percent compared to last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in February were down by 10.0 percent when compared to February of 2018.

Each individual county’s sales comparisons are as follows:

*Lake: 16.0 percent below February 2018;
*Orange: 6.2 percent below February 2018;
*Osceola: 21.0 percent below February 2018; and
*Seminole: 2.8 percent below February 2018.

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Disney Real Estate Market

For the second time in 10 years, we've seen the median price hit $240,000 as inventory declines 7.9%

In February we saw the average sales price increase to $240,000 from $228,000, a 5% increase from February 2018. Inventory has declined 7.9% to 2,064 compared to last year 2,228. 418 homes sold in the month of February, compared to 479 in February 2018 a 14.6% decrease.

Summary
For the second time in 10 years, we've seen the median price hit $240,000. The last time we saw the median price reach this record high was in November 2018, a sure sign of a positive real estate market. With limited inventory currently on the market and new construction sales booming expect the market to continue to rise. 

If you're looking to sell your home this could be a great opportunity for you to take advantage of the decreasing inventory and rising prices. If you're an international seller in the U.K then be sure to keep an eye on the low exchange rate.  If you're looking to purchase a new home, take advantage of the low-interest rates and purchase before prices rise even higher. Contact us today for more information on the Disney, Davenport, and Kissimmee markets or click here to start your search.

 

 

If you have any questions please reach out to us anytime, we are here to help.

Posted in Market Updates
March 5, 2019

Disney Real Estate Market Update February 2019

Welcome to February 2019 Disney real estate market update. 

For the second time in 10 years, we've seen the median price hit $240,000 as inventory declines 7.9%

In February we saw the average sales price increase to $240,000 from $228,000, a 5% increase from February 2018. Inventory has declined 7.9% to 2,064 compared to last year 2,228. 418 homes sold in the month of February, compared to 479 in February 2018 a 14.6% decrease.

Summary
For the second time in 10 years, we've seen the median price hit $240,000. The last time we saw the median price reach this record high was in November 2018, a sure sign of a positive real estate market. With limited inventory currently on the market and new construction sales booming expect the market to continue to rise. 

If you're looking to sell your home this could be a great opportunity for you to take advantage of the decreasing inventory and rising prices. If you're an international seller in the U.K then be sure to keep an eye on the low exchange rate.  If you're looking to purchase a new home, take advantage of the low-interest rates and purchase before prices rise even higher. Contact us today for more information on the Disney, Davenport, and Kissimmee markets or click here to start your search.

 

Posted in Market Updates
Feb. 26, 2019

Video: Inside look at the Orlando Market Jan 2019


Orlando Market Pulse, January 2019

Orlando inventory jumps 8 percent as sales slip 14 percent and median price hangs tight.

Future looks bright for both buyers and sellers as inventory climbs 8% and median home prices rise yet again 1% to $226,500.

For an inside look watch my January 2019 real estate update...

 

Posted in Market Updates
Feb. 15, 2019

Disney Real Estate Market Update January 2019

Welcome to January 2019 Disney real estate market update. 
The winter months cool the market as inventory and sales both decrease...

In January we saw the average sales price increase to $226,000 from $210,950, a 6.7% increase from January 2018. Inventory has declined 5.6% to 2,138 compared to last year 2,257. 371 homes sold in the month of January, compared to 410 in January 2018 a 10.5% decrease.

Summary
Prices in the Disney vacation market continue to rise due to the low inventory on the market. Home sales are down compared to 2018 but still historically high as we enter the new year. 

If you're looking to sell your home this could be a great opportunity for you to take advantage of the decreasing inventory and rising prices. If you're an international sellwer in the U.K then be sure to keep an eye on the low exchange rate.  If you're looking to purchase a new home, take advantage of the low-interest rates and purchase before prices rise even higher. Contact us today for more information on the Disney, Davenport, and Kissimmee markets or click here to start your search.

 

Posted in Market Updates
Feb. 15, 2019

Orlando Market Pulse January 2019

Orlando inventory jumps 8 percent as sales slip 14 percent and median price hangs tight

The Orlando housing market in January saw its third consecutive month of year-over-year increases in the number of homes available for purchase, along with a slide in sales and a holding steady of the median price.

Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp., explains that the expanded inventory is advantageous to prospective buyers, particularly those interested in purchasing condos. 

“Our condo inventory rose by 26 percent last month, and this home type is an excellent option for those seeking entry into homeownership as a relief from Orlando’s soaring rental rates,” says Fagan. “Condos also tend to be cheaper than single-family homes; for example, the median price of a condo sold in January was only $125,000 compared to $247,950 for a single-family home.”

Median Price

The overall median price of Orlando homes (all types combined) sold in January is $226,500, which is 0.7 percent above the January 2018 median price of $225,000 and 2.4 percent below the December 2018 median price of $225,000. 

Year-over-year increases in median price have been recorded for the past 91 consecutive months; as of January 2019, the overall median price is 96.1 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in January increased 3.3 percent over January 2018 and is now $247,950. The median price for condos increased 8.7 percent to $125,000.

The Orlando housing affordability index for January is 136.65 percent, up from 132.46 percent last month. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.)

The first-time homebuyers affordability index increased to 97.17 from 94.19 percent last month.

Sales and Inventory

Members of ORRA participated in 1,938 sales of all home types combined in January, which is 13.8 percent less than the 2,249 sales in January 2018 and 20.0 percent less than the 2,422 sales in December 2018.

Sales of single-family homes (1,486) in January 2019 decreased by 15.0 percent compared to January 2018, while condo sales (289) increased 7.0 percent year over year.

Sales of distressed homes (foreclosures and short sales) reached 92 in January and are 34.8 percent less than the 141 distressed sales in January 2018. Distressed sales made up just 4.8 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in January (8,243) represents an increase of 8.4 percent when compared to January 2018, and a 4.7 percent increase compared to last month. There were 6.8 percent more single-family homes and 26.2 percent more condos, year over year.

Current inventory combined with the current pace of sales created a 4.3-month supply of homes in Orlando for January. There was a 3.3-month supply in December 2018 and a 3.4-month supply in January 2018.

The average interest rate paid by Orlando homebuyers in January was 4.32 percent, down from 4.38 percent the month prior.

Homes that closed in January took an average of 60 days to move from listing to pending and an average of 38 days between pending and closing, for an average total of 98 days from listing to closing (up from a total of 92 days the month prior).

Pending sales in January are down 16.5 percent compared to January of last year and are up 24.8 percent compared to last month.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in January were down by 14.6 percent when compared to January of 2018.

Each individual county’s sales comparisons are as follows:

*Lake: 5.9 percent below January 2018;
*Orange: 17.9 percent below January 2018;
*Osceola: 19.2 percent below January 2018; and
*Seminole: 8.2 percent below January 2018.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively - located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received. 

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Posted in Market Updates
Feb. 14, 2019

Happy Valentine's Day

Rose are red.
Violets are blue. 
Looking for a new home? 
We’ll find one for you.

Happy Valentine’s Day from all of us at Dudley Elite Realty ❤️💙

Search every hole in Central Florida at http://www.dudleyeliterealty.com/

Posted in Events