The media is circulating that the real estate market has now surpassed the peak of 2007. IT’S NOT TRUE! There’s no data presented to support this claim. In researching the ACTUAL sales data for all homes sold, the results are below:
According to ORRA, the median home value for all homes sold in Central Florida peaked at $264,436 in July 2007. As of January 2018, the median home value for all homes sold in was $225,000. Overall prices are still 15% below the peak. Many condo values are still about 40% below the peak! The median home value data is comprised of closed sales for SFHs, condos, town houses, & duplexes. It does not include vacant land or commercial properties.
If you’re interested in the opposite end of the spectrum. The real estate market bottom did NOT occur in 2009 or 2010. It was January 2011 when the median home value for Central Florida bottomed at $94,900.
If you bought a house since 2011 & are ready to cash-out and sell. Message me! I can guide you on every step of the process from market readiness to renovations to valuation to marketing to legal disclosures to buyer screening to contracts to title to closing to avoiding scams to finding a new home, and much more!
The Orlando Regional Realtor® Association has released its February 2018 Market Pulse Report. Here are the highlights: From Jan. 2017 to Jan. 2018, the median home value for Central Florida is up 12.6% with inventory down 11%, during the same time frame. The combined median home value for all homes sold is $225,000. Average days-on-market for Jan. 2018 was only 63 days. There is a 2.5 month’s supply of inventory. Experts say 6 months of inventory demonstrates a healthy balance between supply and demand. Distressed properties sales are down 41% year-over-year. The full report is available for you here: February 2018 Market Pulse Report >
Immaculate town house-style condo completely renovated, new flooring & baseboards, freshly painted & loaded with upgrades. Condo has been meticulously maintained. Many updates in 2016 incl. new refrigerator, new A/C system, new perimeter fence, & new laminate flooring. Other features include fenced patio deck, upgraded ceiling fans with wireless remotes, massage tub in upstairs bathroom, french doors, kitchen island, stainless steel appliances, double sink & microwave hood. W/D combo included. Half bath for entertaining guests on 1st floor. There’s a 2nd entrance in the rear with stairwell to master bedroom. Wired with ADT security system. Community amenities include community pool, recreational building & fitness center. Assigned parking spaces in-front of building with extra parking along side. Metro at Michigan Park is located only 4 miles from downtown Orlando & in the immediate vicinity of Publix Shopping Plaza with dining, shopping, banking & other conveniences. Quick access of 408 Expressway, Orlando International Airport, Orlando Executive Airport, & Sodo. Condo is an excellent opportunity for investment or first time home buyer. Hurry, won’t last! Schedule your showing today! Room dimensions are approximate & should be independently verified. MLS information is deemed reliable, but not guaranteed.
- 2 Beds/1.5 Baths
- 1240 sqft
- Built 1970
- 2 Story; Town house-style
- Series of upgrades in 2016 incl. new flooring, refrigerator, A/C system, and fence.
- W/D included
- Upgraded ceiling fans with wireless remotes
- French Doors
- Kitchen Island
- Stainless Steel Appliances
- Microwave Hood
- Double Sink
- 2nd Floor Rear Entrance Stairwell
- Mandatory HOA with monthly assessments required
- Broker’s Protected 3% – $150
- Offer Management Platform charges $150 Technology Fee to Buyer’s Agent upon accepted offer
- If applicable, Seller does not pay commissions on seller’s concessions
- Retail Listing
- MLS ID: o5561670
- Listed for $109,900