Friday, January 22, 2016 / by Tom Nickley
2015 was great across the board for the Orlando housing market! Average home prices increased by 9% from 2014 to 2015. This is stellar! Additionally, overall sales increased by over 15%. Quite a few factors contribute to these changes. We experienced a successful springtime market that kept going until September. We also saw a steady decrease in inventory the last five months of 2015, which slightly increased competition.
Consumers were excited about real estate last year! They experienced historically low interest rates, whether they were an investor or first-time home buyer. There’s this renewed sense of security in real estate. Mortgages are becoming more accessible.
As sales increase modestly this year, we do anticipate another hot year! We’re moving forward with low interest rates, rental rates increasing, and affordable home prices. Many on-the-fence buyers are now deciding they want to buy after all! Now makes it a great time to list your home, especially with low inventory. We expect a great year for housing in central Florida.
If you’re thinking about buying or selling a home in the Orlando or surrounding area this year, let’s get started! Reach out to me by phone or email. I look forward to hearing from you.