Orlando’s real estate market has established itself as one of the most dynamic in South Florida in recent years. During the first five months of 2024, 12,120 housing units were sold, according to figures from the Orlando Regional Realtors Association, with May being the best performer with 2,909 transactions, 5.44% more than April.
This is largely due to the fact that more and more people are interested in living in this city, hence the increase in its population in recent years. Orlando currently has 325,000 inhabitants, almost 100,000 more than it had in 2010 (239,000), according to official estimates.
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In this article we will tell you some of the trends and news that the Orlando real estate market brings, so that you want to invest in this city and find a property that fits what you are looking for.
Orlando Real Estate Market: What’s Trending?
If you want to know why the Orlando real estate market is trending, here are some of the reasons why.
Orlando: a technology hub
The city has become an epicenter of technological development in the United States. Some of the most important companies in this field have settled there and it is also the scene of important innovation events, such as Metacenter Global Week, which last took place in October 2023.
The fact that Orlando is a global technology center is good news for the real estate market, as more and more entrepreneurs in the sector are interested in creating companies and settling in this city to be closer to their businesses.
A growing rental market
Orlando is known to be one of the cities in the United States that receives the most tourists per year, with about 6.3 million visitors registered in 2023, according to official figures. This has a direct impact on the rental apartment market, as many investors see this dynamic as an opportunity to make their investments profitable.
Orlando Real Estate Market: Capital Gain and Profitability
According to specialized media reports, Orlando is an ideal city to make real estate investments, since its properties deliver high levels of profitability on average, although it is clear that this depends on various factors that make each case have its particularities.
Affordable prices
Real estate in Orlando registers very affordable prices compared to other cities in South Florida. By May 2024, the average value of a home was USD482,295, 5.3% more than in the same month of 2023.
Orlando Real Estate Market: Inventory Grows
The number of Orlando properties available for sale grew significantly between May 2023 and the same month in 2024. This inventory went from 5,149 to 10,282 units in that year, which represented an increase of 99.7%. What does this mean? That investors interested in the real estate market in this city find today more options to choose from.
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If you are interested in the Orlando real estate market or want to invest in Miami or another city in South Florida, contact us and at PFS Realty we will help you find your best option.
References
- Metrocuadrado.com (2022). Miami and Orlando, cities desired by Colombians to invest. https://www.metrocuadrado.com/noticias/actualidad/miami-y-orlando-ciudades-apetecidas-por-los-colombianos-para-invertir-3430/
- Revista Economía (2023). Orlando: the new and attractive real estate investment destination in the sights of Chileans. https://www.revistaeconomia.com/orlando-el-nuevo-y-atractivo-destino-de-inversion-inmobiliaria-en-la-mira-de-los-chilenos/