Good news for those who have already bought homes in the Orlando area or intend to buy: the average price of properties continues to increase and the trend remains. The Orlando Regional Realtor Association released a recent report stating that average prices for homes sold in Central Florida in May 2020 increased by almost 7% compared to May last year.
The overall average price of Orlando homes (all types combined) sold in May was $ 259,900, 7.0% above the May 2019 average price of $ 243,000.
Despite the decline in the number of transactions due to the pandemic in May (44% lower than May 2019), the sector shows recovery within the year, especially if we compare the numbers of transactions between April and May 2020. The increase was an incredible 61%. The market shows some anxiety and everything indicates an aggressive recovery in the sector as the economy enters the end of the pandemic curve.
Another factor that also contributes to the appreciation of the average price of real estate in Orlando is the drop in inventory compared to May 2019. The decline was 11%. Due to the pandemic, the owners chose to postpone the sale and the construction companies also reduced the projects. The smaller number of properties on the market decreases supply in relation to demand, pushing prices upwards.
Great opportunity for investors
Now is an excellent time to buy real estate in Orlando. Below are some reasons that make this an ideal historic moment to make a solid dollar investment:
1 – Strong appreciation trend
As we mentioned in this article, the average price of real estate in Orlando continues to rise, showing a solid appreciation trend.
2 – Incentives by construction companies
Construction companies in Orlando are offering incentives of up to $ 35,000 to purchase certain new and ready-made Orlando homes. Buy now and start receiving rental income for the season. Osceola County has already released short-term rental activity. Incentives are for a limited time and will only remain until the end of Florida’s most critical pandemic period.
3 – Low interest
Interest rates in the United States have never been lower, in a historical analysis since the 1970s. Brazilians are allowed to finance through American banks. Take the opportunity and leverage your investment using cheap resources from American banks. We follow the entire process with the banks for the quick approval of your loan. Just prove income in Brazil
4 – Purchase can be done virtually
You do not need to leave Brazil to acquire your home in Orlando. Everything is done in a virtual way and without bureaucracy.
About AMG Realty
AMG Realty is a luxury Florida Real Estate Firm. If you are interested in buying Real Estate in Orlando or Miami, give us a call: +1 (305) 318 6968 (WhatsApp: Heloisa Arazi)