Inbound migration from high-tax and high-cost-of-living areas such as California is one of the main reasons why the Orlando real estate market is so hot. People and businesses are looking for less dense areas with lower business costs and affordable real estate prices.
Orlando is fast becoming a competitive property market, especially since visitors continue to be drawn by the area’s world-class theme parks such as Disney World and Universal Orlando. As the economy continues to recover, these iconic resorts are expected to benefit from pent-up demand from visitors all over the world.
Furthermore, Orlando has experienced rapid population growth and a low vacancy rate, with the Orlando Economic Partnership projecting that the region will add 1,500 people per week by 2030, reaching a population of 5.2 million. The city’s home prices are still considered affordable in comparison to other areas of Florida.
If you’re wondering whether to sell your Orlando FL property, consider this your sign to do so. Read below for some real estate selling tips you can refer to in 2022 to help you decide whether it’s time to sell your Orlando property.
Housing Market Trends
In June 2022, Orlando home prices were up 19.0 percent from the previous year, with a median price of $375,000. On average, properties are on the market for around 24 days before being sold.
These statistics demonstrate that Orlando is a seller’s market, with low inventory and a large number of buyers looking for properties. A hot market will result in a quicker sale at or above the asking price. One of the key real estate selling tips for 2022 in Orlando is that buying a home in a seller’s market can be difficult, but it is still possible to get a good deal.
Property prices will rise over the next year due to a lack of supply and increased demand for housing, while low mortgage rates will support the housing market and continue to drive up home prices. Now is an excellent time for sellers to list their Orlando home for sale. Home prices are rising and becoming more appealing to sellers in the current market.
Renters’ Market Trends
Based on key investment criteria such as cash flow, affordable property prices, and a growing population and job market, Orlando was named one of the best places to buy rental property in 2022. According to recent market statistics, that trend appears to be continuing throughout the year.
Florida has no state income tax and plenty of warm weather, which makes the market even more appealing. These are just two of the many reasons why so many people and businesses are relocating to Orlando from other cities where taxes and living costs remain exorbitant.
Orlando is proving to be a safe real estate investment location for both domestic and international investors. In terms of population and employment, the city outperforms other cities with competitive real estate markets.
Due to its growing trend of upward life mobility, Orlando is quickly becoming a central attraction for businessmen, students, and small families, luring investors to invest in the Orlando real estate market. Another reason for Orlando’s growing economy and population is the developed transportation infrastructure, which makes traveling between destinations more convenient.
Sell to a Professional Home Buyer!
The positive outlook for Orlando’s real estate market means that now might be the best time to consider listing your property for sale.
Once you’ve decided to sell your property in Orlando, the next step is to find a reputable home buyer. After all, you want to make sure you leave your property in good hands.
Our team at VDL Homes, Inc. is here to help you with any concerns you have about selling your Orlando property. After evaluating the property, we present a written offer that is reasonable based on the condition of the house. We pride ourselves on quick turnaround times to make sure you get your money’s worth as soon as the contract is settled.