Will Central Florida remain a seller’s market and for how long? 

According to experts, Orlando is set to remain a seller’s market for quite some time. 

Home inventory in Central Florida has been scarce with the market red hot right now – and it’s anticipated to stay that way for the next 12 months.  

According to the ORA- The Orlando Regional Realtor Association, home sales have increased nearly 13% compared to this same time last year. 

“Within a matter of 24-48-72 hours, you can have as many as… I had one property that had 50 offers. I’ve never had 50 offers on a property,” said Winter Park realtor Jennifer King. 

King has been a real estate agent in the Central Florida market for 20 years. She tells the media that more than 1,500 people a week are moving to the area, many relocating from California and New York, and flooding the Orlando market with cash. 

But that’s not the only factor driving prices for both home sales and rentals. 

“What I’m seeing now is people are actually moving their companies here because of our state taxes. They’re moving their companies and hundreds of employees at one time.” 

Some of those include the Walt Disney company, which is transferring 2,000 employees to Central Florida from Los Angeles, CA. 
KPMG is also relocating its capabilities center from up North. Sonesta International Hotels opened a new corporate office a few months ago, and Innovacare Health Incorporated is also moving high-wage jobs here. 

So, what’s really driving the price increase in Orlando’s rental market? 

“So many people had investment properties because of our market back in 2007. So they held on to those and prices of those properties have gone up so much. It made more sense for those people to sell those homes. So we’ve lost a significant portion of our rental properties.” 

Orlando home values are now up more than 21% and are expected to go even higher through next year with no signs of slowing down in the foreseeable future. 

We, at RE/MAX Heritage, have always tried to point out the numerous benefits of working with a realtor. However, in this market, working with a realtor has truly become a necessity for clients’ success.  

Realtors know the market, have access to the most up to date property database, have inner professional networks, and can navigate through complex transactions and fast paced negotiations.  

For all things real estate in the Orlando area (buying, selling, rental, management, etc.), speak with us first. We’ve been doing this since 1989 (33 years and counting) and it’s the best testimonial that we excel at it!

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