Sep 30 2016 11784 1

Sep 30 2016 11784 1

Orlando houses are selling faster now than the previous 10 years.  Orlando houses are on the market only an average of  56 days. The shortest time since 2006 just before the Real Estate bubble was about to burst.   Homes were selling like hotcakes.  The Orlando Real Estate Market is again, hot-hot-hot.


There are 21% fewer homes available in the under $300,000 market that last year. Homes under $300,000 are flying off the market. A six month supply of Orlando houses is considered average. The under $300,000 home market has a supply of just 1.98 months.

 

The lack of supply in this price point is making it difficult for home buyers to get a property. Most buyers are making multiple offers before they land a property. Multiple offers are common.  Offers above full price are common.  Sometimes the offers are even higher than the appraisal.

 

Entry level home buyers with limited cash, or FHA or VA financing, are most challenged. Sometimes competition for these properties is fierce with up to 12 offers on one property.

 

Buyer demand for these homes is still high. Of course, sellers love it when buyers are competing for their property.


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Dated: September 30th 2016
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