The city of Orlando is considered one of the best destinations in the world for real estate investment, according to Forbes magazine. In fact, year by year the market sees a solid and consistent appreciation in the average price of properties. The latest report from the Orlando Regional Realtor Association showed that the trend continues, even in the midst of the coronavirus crisis. This is excellent news for those who have already purchased or intend to make investments in the region.
The overall average price of Orlando homes (all types combined) sold in May 2020 was $ 260,000, 7% higher than the average price seen in the same period in 2019 ($ 243,000). The average price of single-family homes sold in May 2020 was $ 277,000, up 5.4% from May 2019.
The number of transactions, as expected, fell from one year to the next (44%), but increased dramatically within the year. The growth was 61% in May 2020, compared to April this year. The sharp rise in the graph shows an aggressive resumption of the market. If we still add to these facts the decline in the inventory of homes for sale in Orlando, the trend is that prices will continue to rise consistently.
The 11% drop in inventory compared to May 2019 is due to the fact that many owners are awaiting the end of the critical period of the pandemic to return to the market. The developers are also cautious about carrying out new projects, which reduces the offer.
Now is the ideal time to buy Real Estate in Orlando
Some factors combined make this one of the best times to make an investment in Orlando. With the crisis, several construction companies are offering generous incentives to buyers. These are unprecedented incentives that will remain in force only until the end of the most critical period of the Florida pandemic. In addition, American interest rates are at one of the lowest levels in US history. Take the opportunity to finance!
To learn more about the factors that make this moment one of the most conducive to investing in Florida click here.
About AMG Realty
AMG Realty is a global luxury real estate company specializing in Orlando and Miami. Our headquarters are in São Paulo / SP. If you are interested in learning more about investment opportunities in Florida, contact us now via WhatsApp: +55 11 98111-2555 (Carlos Barros – International investment consultant – I look forward to your call!).