Home Prices in Orlando Dropped in August

Home Prices in Orlando Dropped in August

Prices in the core Orlando market took their expected seasonal drop last month. They dropped from a middle of the road $170,950 back in July to $165,000 in August. These prices are according to Orlando Regional Realtor Association’s report.

It’s typical for prices to drop at the end of summer, but this decline is partly being attributed to the result of large amounts of distress properties selling last month that furthered the depressing of the region’s median price.

The amount of foreclosures has been increasing as well as auctions of foreclosed properties. Orlando foreclosures have increased by a third of the amount they were this time last year. They have increased more than 20 percent from July.

Last month year over year prices in the core Orlando market increased 26 percent for short sales, 9 percent for foreclosures and only 5.5 percent for normal sales. Overall home prices were up 6.4 percent year over year. This is only a fraction of the year over year increases that Orlando buyers and sellers realized last year, which was 24 percent.

2,449 houses sold last month, which is down from both a month ago as well as a year ago.

Homes are currently spending an average of 68 days on the market.

There is concern that the future holds a potential of becoming a buyers market as inventory increases.

Under contract homes last month, consisted of 34 percent shorts sales, 42 percent normal properties and 24 percent bank owned properties.

Want to know more about the Orlando and Clermont real estate market? Please check out the following articles:

– Winter Garden Village Has a New Owner

– Curb Appeal Check List to Sell That House!

– What to Do When Your Offer is Rejected on a Home in Clermont

How Much Are Homes Outside Orlando?

How Much Are Homes Outside Orlando? Clermont, Winter Garden, Minneola

It’s not hard to find a home in the Orlando area. The market is always plentiful. However, to find just the right home that fits within the parameters of what you want and need, you should to pay attention to your budget, specific features of the home and location. The price of a home really depends on location. So, just how much are homes outside the Orlando area?

Sites such as Zillow or Trulia can give you a good idea of current median prices in an area. Then, you need to make a decision. Think back to those parameters of wants and needs you have for your search in a new home. What’s more important to you? House or location? You may need to choose. After getting a good idea of current prices in Orlando areas and seeing what best matches your budget and ideal parameters, hop on over to wheretoliveinorlando.com and check out current listings. If it’s on the market, your Orlando expert will have it.

Here’s a look at Clermont, Winter Garden and Minneola prices currently and how they compare to Orlando itself:

Orlando median home price for April 2013 to June 2013 was about $131,300 according to Trulia.

Clermont median home price for April 2013 to June 2013 was about $173,000.

Winter Garden median home price for April 2013 to June 2013 was about $240,150

Minneola median home price was about 179,900 a month ago according to movoto.

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Where is Winter Garden Florida?

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Real Estate Prices

Home prices in Orlando Florida are starting to get a little out of hand. Since we’re coming back from our real estate bubble in the early 2000’s, home prices, especially in downtown Orlando, are starting to skyrocket. This is forcing a lot of people out of town and into smaller communities such as Winter Garden, Pine Hills, Minneola, and Clermont.

Home prices in Clermont

Clermont Florida is a beautiful community just to the West of downtown Orlando in amongst Lake Minnehaha and Lake Louisa. Just about every home has some form of Lakeview or lakefront property and home prices are much more reasonable starting at around $120,000. Homes can reach as high as over $400,000 that this is the more luxury, larger acreage home. A beautiful home of around $300,000 sits on larger lots and offers 3 to 5 bedrooms with over 3000 ft.² of living space. Many of these homes you can find below market value in a short sale or foreclosure option.

For around $180,000 you can find a beautiful home in Clermont for a three bedroom two bath home about 2000 ft.². Many of these homes or even nestled around Lake Louisa with gorgeous lakefront property and views.

To the North you can find homes starting at around $60,000 but many of these will be manufactured or mobile homes. Site built homes start at around hundred thousand dollars and you can find many homes with larger floor plans of over 2000 ft.² with five and six bedrooms for under $200,000. Several of these homes may need a little TLC a chill never know what you find until you get out there and look.

Because I love the Clermont, Winter Garden, and Pine Hills area I more apt to promote these areas than the busyness of downtown Orlando. For more information and to find homes in these areas give me a call anytime or start your online search here for free.

Your Florida and Orlando Expert

I love living, working and playing in the area and if you love it just as much, give us a call to find your perfect dream home in the Orlando real estate market. I help buyers and sellers in Winter Garden, Clermont, Minneola and all over the Orlando area. Where know where to live in Orlando!