The Orlando home sold in a multiple offer situation. The average house value in this Orlando neighborhood had been steadily rising in the months before the closing. The original list price was $119,900 and the property sold for $120,000. Multiple bid situations are causing the demand for Orlando Real Estate to rise and, consequently, the median home price is usually above the list price. The average price for homes in the 32807 area code is about $90,000 and this home sold for $120,000.
Since the home was not a bank owned home, or a short sale, it generated much activity. Orlando real estate has come a long way since the slump of the real estate market and has seen an increase in the average price of homes in the past few months. It is definitely becoming more and more of a seller’s market where home owners can sell their homes for a price well above the market value of homes between 2-6 years ago.
Franisco Orchilles, Realtor® | Residential Real Estate Services | Keller Williams Classic Realty 5979 Vineland Rd. #101 Orlando, FL 407-925-4552