August was another hot month for Orlando real estate sales.
Sales surged to rise 22% on August 2014 and median values rose 11%, according to the latest data from the Orlando Regional Realtor Association.
The overall median price was $182,000 compared to $163,850 in August 2014. Single-family home sales rose 26% year-on-year, while condo sales were flat.
Garrett Kenny, Chief Executive Officer of leading Central Florida developer and agent, Feltrim Group, says, “We’ve seen a similar response from US and international investors for our new luxury lakeside project, Balmoral at Waters Edge.
“I’ve just returned from Dubai and Asia, where buy-to-let investors there are keen to invest in Orlando due to its buoyant market, the pulling power of Disney, Orlando and our other theme parks, which are the best in the world, and Feltrim Group’s property management scheme.
”The official UK launch of Balmoral at Waters Edge happens at next week’s A Place in the Sun Live! overseas property show in Birmingham on our Stand E-44, so we are hoping to attract lots more international investors there.”
The latest price rise marks 49 consecutive months of median price increases and the August 2015 rate is 57.58% higher than the low of July 2011. The average home sold for 97.02% of its listing price in August 2015, up 0.16% on a year ago.
New homes not only help provide housing stock for Central Florida’s growing population, they also bring subcontracting and vendor opportunities to local companies, say Florida Realtors.
The number of existing homes (all types combined) that were available for purchase in August is 10.88% down on August 2014 at 11,661.
The inventory of single-family homes is down by 13.29% year-on-year, duplexes, townhomes, and villas supply is down by 4.67% and condo inventory is down 0.83%.
Balmoral at Waters Edge is set in within a 113-acre private gated community and promises to be one of the most attractive developments south of the Disney area.
The beautiful garden-themed community, just south of Orlando includes Tuscan-style architect-designed homes exclusive to top developer, the Feltrim Group.
Balmoral at Waters Edge features a host of top-class leisure facilities, including a resort-style pool with luxury clubhouse, mini waterpark, lakeside beach, gym and spa, gourmet kitchen, restaurant and more.