Here in Orlando, just like much of the country the Real Estate market has started to take flight! Lake Nona and Orlando’s Medical City in particular has seen some great gains in pricing and inventory is in really short supply.
With the real estate recovery on the way this means that buyers are taking advantage of some great deals in Lake Nona real estate. Mortgage rates are still extremely low at around the 3.5% range for a conventional 30 year fixed loan with rates expected to stay low well into next year.
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Even the National Association of Realtors is reporting on the real estate upturn in the area. In the South of the country the National Association of Realtors reports that existing home sales rose 2.0% in the previous month but are 14.9% above April 2012! Amazing figures. Better yet the median home price is also up 10.6% from the same time last year. Nationally the picture is equally as good with existing home sales up by 0.5% in April and 9.7% up over the same time in 2012. Buyer traffic is also up and homes are selling 45% faster than the same time last year. Prices are also up on average 11% compared to the previous year and that makes the 14th month of price rises in a row, the last time this type of consecutive figures were reported was back in the boom times of 2005 and 2006.
Foreclosures and short sales are also down and with inventory so low – even with new construction in Lake Nona – the time to buy is definitely now. Are there any homes still for sale in Lake Nona?
GET IN TOUCH TODAY FOR THE BEST HOMES AVAILABLE RIGHT NOW IN LAKE NONA AND ORLANDO’S MEDICAL CITY!
Thinking of moving to Orlando’s Medical City or the Lake Nona area? Or any other part of the Orlando/Central Florida area? Click here to search the Orlando Multiple Listing Service. You can also view our fantastic range of featured properties! Selling your home? Contact us for comprehensive home valuation services! Email Steve Glose here at steve@thefloridalivingteam.com. Or you can call direct on 407-616-7286.
Orlando Medical City – Orlando’s up-and-coming Elite Community.