With last week’s good news regarding the surge in Orlando real estate market, you might be considering selling your home, and you’re not alone. According to Florida Realtors, a recent Fannie Mae survey showed that, “homeowners are becoming more upbeat about potentially selling their home.” 52% of the Americans surveyed believed selling their home now would be profitable, the highest percentage recorded since the National Housing survey began. Florida Realtors also reported that in June “[Florida] statewide median sales price for single-family existing homes…was $203,500, up 10 percent from the previous year.”
There are a few factors contributing to this positive mood including increasing rental costs and a scarce inventory of homes available. In February the Orlando Sentinel found that the median rent per month in Orange, Seminole, Osceola and Lake counties was $1,311. There is pressure specific to Florida with the increasing amount of new residents (we are now the third most populous state in the US) who come here for employment opportunities.
If you’d like to start the selling process, we suggest your first step be to call a Realtor to visit your home and conduct a comparative market analysis. A comparative market analysis gives you an idea of what your home is worth compared to similar properties in the area, and any improvements you can make to attract buyers.
You can find our Realtor’s information here. We’d be happy to help you with a comparative market analysis (this is a complimentary service), or to answer any questions you might have about selling your home.