Orlando housing market reaches 50th monthly rise in a row

DAVENPORT, Fla. - Oct. 16, 2015 - PRLog -- The strong Orlando housing market has reached another milestone – September 2015 was the 50th month in a row that median prices have risen year-on-year.

Yes, it was more than four years ago that the Orlando real estate market started rising and it is 57.58% higher than it was in July 2011.

Median prices in September rose 9% year-on-year and sales increased 3.1%, according to the latest data from the Orlando Regional Realtor Association.

Homes of all types spent an average of 67 days on the market before coming under contract in September 2015.

The total number of homes listed in September is 11,533, which is 6.36% down on the same time last year.

Garrett Kenny, Chief Executive Officer of leading Central Florida developer and agent, Feltrim Group says, “It’s great news that the Orlando property market is strong and prices and volumes are still rising after more than four years in a row, but it still has around $80,000 to go match the market’s median peak.

“In the last month or so, we have taken part in property sales events in Venezuela, South Korea, the UK and Dubai and the story from investors is the same. They recognise the pull of Orlando’s lifestyle, world-class theme parks, great weather, championship golf courses and amazing shops and restaurants and they want to buy property here.

“Our new luxury lakeside development, Balmoral at Waters Edge, is attracting particular attention from vacation home buyers, buy-to-let investors and retirees and we have sold properties wherever we have gone.”

Balmoral at Waters Edge, in Haines City, half an hour from Walt Disney World, features high-end custom homes from 3-8 bedrooms, set within a luxury resort, along with many tranquil parks, gardens, walkways and lakes.

“It includes the very best in resort amenities. For instance, it does not simply feature a pool, but we’ve put in a mini water park with slides and tipping buckets, a resort style pool for relaxation Jacuzzi, splash pad and more,” says Mr Kenny.

“We’re particularly proud of the many lakes and beautifully landscaped gardens where you can unwind after a day out at the nearby attractions. It is your ticket to the vacation home of your dreams.”

For more details, see the Balmoral at Waters Edge website, which is an International Property Awards (Americas) winner. The award is being presented at a special ceremony hosted by the Barbados government on Friday 23 October.