Orlando Florida Real Estate Market Update - February 2008
Below, you'll find a complete market update of all greater Orlando communities. You can also view specific Orlando Florida real estate market info for Lake Mary, Longwood, Sanford, Casselberry, Winter Springs, Oviedo, East Orlando, Downtown Orlando, Winter Park, Apopka, and Maitland. Just click on the specific Orlando community in the left hand navigation menu and you will find the Orlando MLS info for the specific area. This information is pulled from the Orlando MLS and updated for you monthly. We also provide you the ability to receive automatic updates on homes for sale from the Orlando MLS by email.
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| Jan 2007 | 5.91% | 21,266 | 6,630 | 2,409 | 2,504 | 362 | 1,426 | 1,922 | 1,469* | 90* |
| Febr 2007 | 5.92% | 22,055 | 5,566 | 2,387 | 3,096 | 302 | 1,236 | 1,775 | 1,541* | 91* |
| March 2007 | 5.83% | 23,547 | 6,426 | 2,434 | 2,893 | 480 | 1,431 | 1,970 | 1,779* | 90* |
| April 2007 | 5.93% | 24,435 | 5,832 | 2,346 | 2,948 | 346 | 1,359 | 1,927 | 1,530* | 97* |
| May 2007 | 5.94% | 25,463 | 6,200 | 2,334 | 2,611 | 377 | 1,446 | 2,214 | 1,745* | 94* |
| June 2007 | 6.40% | 25,923 | 5,667 | 1,853 | 2,700 | 404 | 1,657 | 2,150 | 1,524* | 98* |
| July 2007 | 6.50% | 26,018 | 5,404 | 1,717 | 2,571 | 329 | 1,786 | 2,206 | 1,524* | 96* |
| Aug 2007 | 6.60% | 26,313 | 5,582 | 1,451 | 2,194 | 420 | 1,848 | 2,379 | 1,467* | 108* |
| Sept 2007 | 6.21% | 26,310 | 5,000 | 1,173 | 2,012 | 306 | 2,180 | 1,953 | 970* | 111* |
| Oct 2007 | 6.21% | 26,330 | 4,958 | 1,304 | 1,923 | 310 | 1,969 | 2,181 | 1,090* | 111* |
| Nov 2007 | 6.08% | 26,172 | 3,610 | 1,193 | 1,806 | 238 | 1,768 | 1,849 | 1,029* | 114* |
| Dec 2007 | 5.93% | 24,298 | 3,415 | 1,023 | 1,559 | 220 | 3,157 | 1,462 | 1,076* | 113* |
| Jan 2008 | 5.60% | 25,724 | 5,474 | 1,239 | 1,731 | 265 | 1,804 | 1,805 | 756 | 120 |
According to the Orlando Regional Realtor Association, Orlando's housing marketing upheld its annual tradition in February with a month-to-month increase that marks the start of the spring selling season. The 922 home sales that took place in February 2008 are a 13.4 percent increase over January 2008's 813 sales; however, home sales in February 2008 are down by 40.17 percent when compared to February 2007. Homes of all types spent an average of 123 days on the real estate market before being sold in February 2008; the average home sold for 93.21 percent of its original asking price.
The majority of Orlando area single-family homes (188) that changed hands in February 2008 were sold for between $200,000 and $250,000. Another 117 homes sold in February for between $250,000 and $300,000. Two hundred twenty-nine homes sold for less than $200,000 in February, and 208 sold for more than $300,000. On the extreme ends of the scale, 15 homes were sold for $1 million or more while only nine (up from four in January) homes sold for less than $50,000.
There are currently 25,984 homes available for purchase through the Orlando area MLS. Inventory increased by 260 homes in February 2008, which means that 260 more homes entered the market than left the market. Compared to last year, the February 2008 inventory level (25,984) is 17.81 percent higher than it was in February 2007 (22,055).
The current Orlando Florida area home inventory level reflects a 28.18-month supply at the current pace of sales, which is down from January 2008's 31.64-month supply.
There are 19,531 single-family homes currently listed in the Greater Orlando area MLS. Most (6,872) are listed in the $200,000 to $300,000 price range. Condos currently make up 4,242 offerings in the MLS, while duplexes/town homes/villas make up the remaining 2,211. Most Orlando area condos (573) are priced at $120,000 to $140,000, but nearly equal numbers are posted in both the $160,000 to $180,000 and the $200,000 to $250,000 ranges. The majority of Orlando area duplexes/town homes/villas (498) are listed in the $200,000 to $250,000 range.
So, What Does All This Mean To You?
Well, that depends upon which side of the transaction your on. If you're selling your Orlando area home, be prepared to price it according to today's market values, and have it in model home condition. You'll also want to prepare for the average Orlando time on market of 123 days. Due to the high volume of homes on the market, the competition is going to be fierce. You've got to be priced aggressively, and have the best showing home...otherwise, prepare for longer than 123 days, because it's going to sit! You'll also want to make sure you've got an aggressive real estate agent who's marketing plan is geared heavily toward the internet.
If you're looking to buy a home in the Orlando area, you're in luck. You've got an abundance of homes to choose from, great prices and extremely low interest rates! Don't take take it for granted though...the best homes are still selling very quickly and are getting multiple offers. If you find the home of your dreams, don't try to sleep on it...make your move! If you're looking for a great deal, contact us for a complete list of area foreclosures and REO or bank owned homes. You may even want to consider a short sale. We represent many home sellers who have to sell their home quickly to avoid foreclosures. View our current inventory in our Featured Homes. If you don't see what you're looking for here, call us...we've got access to every short sale on the market and can easily email you details on thost that match your needs.
Median Household Income: $35,732
State Average: $38,819
Median Family Income: $40,648
State Average: $45,625
Per-Capita Income: $21,216
State Average: $21,557
Median Value of Owner-Occupied Housing Units: $103,200
State Average: $105,500
Median Price Asked for Housing Units: $94,900
State Average: $92,200
Source: 2000 Census
| Year Home Was Built | Orlando | Orange | Florida |
| Built 1939 or earlier | 5.15% | 2.43% | 2.86% |
| Built 1940 to 1949 | 5.32% | 2.78% | 3.07% |
| Built 1950 to 1959 | 13.73% | 10.02% | 9.24% |
| Built 1960 to 1969 | 12.23% | 11.49% | 12.79% |
| Built 1970 to 1979 | 17.70% | 17.16% | 23.09% |
| Built 1980 to 1989 | 22.35% | 26.06% | 26.24% |
| Built 1990 to 1994 | 10.41% | 13.47% | 10.52% |
| Built 1995 to 1998 | 9.18% | 12.53% | 9.24% |
| Built 1999 to March 2000 | 3.93% | 4.07% | 2.93% |
| Household Income | Orlando | Orange | Florida |
| Less than $10,000 | 10.10% | 7.74% | 9.57% |
| $10,000 to $14,999 | 6.88% | 5.73% | 6.73% |
| $15,000 to $19,999 | 7.89% | 6.47% | 6.99% |
| $20,000 to $24,999 | 7.65% | 7.03% | 7.50% |
| $25,000 to $29,999 | 8.19% | 7.24% | 7.26% |
| $30,000 to $34,999 | 8.08% | 7.24% | 6.96% |
| $35,000 to $39,999 | 7.04% | 6.55% | 6.32% |
| $40,000 to $44,999 | 6.73% | 6.59% | 5.98% |
| $45,000 to $49,999 | 5.02% | 5.35% | 5.11% |
| $50,000 to $59,999 | 8.40% | 9.34% | 8.90% |
| $60,000 to $74,999 | 8.72% | 10.51% | 9.56% |
| $75,000 to $99,999 | 7.60% | 9.48% | 8.71% |
| $100,000 to $124,999 | 3.21% | 4.64% | 4.28% |
| $125,000 to $149,999 | 1.35% | 2.10% | 2.01% |
| $150,000 to $199,999 | 1.38% | 1.81% | 1.80% |
| $200,000 or more | 1.74% | 2.18% | 2.32% |
| Travel Time to Work | Orlando | Orange | Florida |
| Less than 5 minutes | 1.78% | 1.70% | 2.32% |
| 5 to 9 minutes | 7.34% | 6.64% | 8.89% |
| 10 to 14 minutes | 12.61% | 11.39% | 13.76% |
| 15 to 19 minutes | 17.37% | 15.82% | 16.20% |
| 20 to 24 minutes | 18.52% | 16.97% | 15.52% |
| 25 to 29 minutes | 7.86% | 7.63% | 6.04% |
| 30 to 34 minutes | 17.66% | 19.03% | 16.08% |
| 35 to 39 minutes | 2.95% | 3.43% | 2.72% |
| 40 to 44 minutes | 2.97% | 4.03% | 3.55% |
| 45 to 59 minutes | 5.87% | 7.80% | 7.97% |
| 60 to 89 minutes | 2.78% | 3.36% | 4.52% |
| 90 or more minutes | 2.30% | 2.20% | 2.44% |
| Worked at home | 2.18% | 2.54% | 3.00% |
Reminder: If you are wanting to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place, while time is still on your side. Please contact us for any real estate assistance you may need.
We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.
As we are in the heart of tax season here in Orlando Florida, it's a great time to review the tax advantages associated with owning your own home. Of course, consulting your local Orlando area tax advisor is always the key to ensuring that you receive the most updated, accurate information and that your write-offs are right-on, but here is a brief overview of what are generally considered some of the typical deductions that might help maximize the returns on your Orlando investment, as well as some new developments that took effect in 2007.
1. Mortgage Interest Payments. A major tax advantage for Orlando Florida homeowners, mortgage interest is usually deductible on a primary residence, as well as on a second home if it meets certain requirements. Every January your home loan lender will provide you with a Form 1098, which outlines the amount of mortgage interest you paid throughout the year.
As an example, if an Orlando Florida homeowner's monthly total principal and interest of their mortgage payment is about $2,000, they may pay only a few hundred dollars to the principal each month, especially during the first few years of a homeowner's mortgage. Of course, the balance of the payment is applied toward the mortgage interest. In just one year, that can add up to thousands of dollars in tax deductions.
2. Mortgage Insurance Payments. Your 2007 mortgage insurance payments could be tax-deductible, since Congress extended the mortgage insurance deduction for an additional three years. The mortgage insurance deduction will help certain low and moderate-income Orlando Florida homeowners, particularly Orlando first-time home buyers. While there are certain restrictions, the deduction could save taxpayers who itemize as much as $300 to $350 in federal taxes.
Read Also: What is the best first step when buying a home in Seminole County?
3. Points. Also known as loan discount or mortgage origination fees, points are often paid to the lender upon purchasing a home. This cost, even when paid on your behalf by the seller, may be tax deductible as a prepayment of interest if certain basic requirements are met.
Read Also: Did You Know Your Paycheck Gets Bigger When You Buy A House?
4. Property Taxes. These are based on the assessed value of your Orlando Florida home and could be a hefty deduction each year. If you use an impound account through your lender, these costs are often shown on your mortgage interest statement. The closing statement on your new loan may also include Florida real estate taxes, which could be deductible as well.
Read Also: Must-Know Real Estate Terms For Orlando Florida's First-Time Buyers
5. Home Improvements. It's important to keep receipts for your home improvement expenses. Although these costs can't be deducted while you own your home, they could help lower your taxes when you sell it. In some states, the sales tax paid on building materials can be considered as a deduction.
Read Also: How Do You Buy The Most Home For Your Money In Orlando Florida?
6. Home Equity. Leveraging the equity in your Orlando Florida home to set up a home equity loan could mean tax benefits that would not be available through other credit sources, such as credit cards or personal loans, because the interest paid on a home equity loan is often tax deductible.
The moral of the story...owning your own home in Orlando Florida gives you a ton of benefits...from a sense of pride and freedom, to long-term investment opportunity, and at tax time every year, it can really provide some serious savings.
RISMEDIA, Feb. 18, 2008
We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.
Oviedo and Lake Mary are two great cities! Both are located in Seminole County Florida and both are only minutes to Downtown Orlando. These two cities have some of the best schools in the area, with Oviedo having what some to be the top schools in the state, which is why so many people choose these areas when buying a home. Actually, all 8 Seminole County 4-year public high schools are ranked by Newsweek Magazine in the top 3% of schools in the United States, and Money Magazine identified Seminole County Public Schools as one of the top 100 school districts in the country. Both have small town charm, yet are close to the big city atmosphere of Orlando.
Both are also only 30 minutes to Daytona Beach, Cocoa Beach and also the theme parks like Walt Disney World. You're also only about 1 hour from Tampa. There is great dining and shopping as well as many outdoor activities, as I'm sure you can see from the below links. Some of the many activities include golf, water sports, fishing, water skiing and wakeboarding, boating, canoeing and kayaking in the many river and lakes and more.
Below are many links to information on the area. If there is anything specific which you'd like more information on, or something I've left out, please don't hesitate to let me know.
Looking for specific information regarding Oviedo, Lake Mary and Orlando Florida real estate prices and communities? Get Your Free Market Snapshot.
Oviedo Florida - One Of The Hottest Real Estate Markets In Greater Orlando
Just a few of the many things to do in Oviedo
Lake Mary Florida - One Of CNN Money's Best Places To Live
Parks and Activities in Lake Mary
Details on 2005 CNN / Money Best Places to Live article for Lake Mary
Seminole County Public Schools
If you enjoy walking or biking outdoors, you'll love the trail system!
Seminole County Visitors Bureau
Seminole County Visitor Information
Orlando Homebuyer Magazine Annual Relocation Guide
Move 2 Central Florida magazine relocation guide
Education Guide (click Central Florida at the top)
Orlando CityBook Relocation Guide
You'll likely spend a lot of time in Orange County as well, so here are some links to information on Orange County and some of the popular attractions.
Great website for all info regarding Orange County.
Orange County Events, History, Parks & Recreation, Arts
Read Also: Orlando Florida Relocation Resource Guide
Read Also: Business 2.0 Magazine has named Orlando the number 1 hottest market with America's best jobs.
Read Also: Orlando Florida Facts & Resources
Read Also: Orlando Florida City - Everything You Need To Know!
Looking for specific information regarding Oviedo, Lake Mary and Orlando Florida real estate prices and communities? Get Your Free Market Snapshot.
If you are wanting to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place, while time is still on your side. Please contact us for any real estate assistance you may need.
We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.
Orlando Florida Real Estate Resource
Orlando Florida Luxury Real Estate - Winter Park, The Landmark Condos
Think of everything you love about Park Avenue in Winter Park Florida. Inspiring location, exquisite cuisine, relaxing amenities and oh so wonderful shopping. With The Landmark Condos, the experience you love can be yours to own - for a lifetime. In Orlando Florida's most sought-after destination is a luxury lifestyle reserved for a few select residents. Each spacious, exquisitely designed luxury home offers the unrivaled advantage of world class design and understated elegance, providing effortless comfort and peace of mind.
You'll love the warmth & grandeur of this architectural masterpiece. The "Landmark" is Winter Park's prestigious condo home location, nestled between the world renowned Park Avenue shopping district & historic Lake Osceola. This grand yet quaint building has only a handful of unique and distinctive residences. All are appointed with the finest finishes and breathtaking open terraces overlooking the serene "Olde World" garden courtyard. This elegant location also has secured gated entrances and underground parking for your every convenience.
The perfect location adds to The Landmark Condo's appeal, with close proximity to Park Avenue's quaint boutique shops, café dining and tranquil parks, easy access to Orlando Florida's highways, Downtown Orlando, Rollins College, the beaches, the attractions and more. Come today and immerse yourself in this idyllic lifestyle!
Click Here For The MLS Listing Information
Own a piece of Central Florida, a piece of Winter Park which is not just a home, it's a heritage.
Search All Winter Park Homes For Sale Over $500,000
Search All Orlando Homes For Sale Over $500,000
Looking for specific information regarding Oviedo, Lake Mary and Orlando Florida real estate prices and communities? Get Your Free Market Snapshot.
Read Also: Orlando Florida Relocation Resource Guide
Read Also: Business 2.0 Magazine has named Orlando the number 1 hottest market with America's best jobs.
Read Also: Orlando Florida Facts & Resources
Read Also: Orlando Florida City - Everything You Need To Know!
If you are wanting to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place, while time is still on your side. Please contact us for any real estate assistance you may need.
We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.
Orlando Florida Real Estate Resource
Lake Mary New Construction, Luxury Homes - A Rare Find!
It's quite rare these days to find new construction homes in Lake Mary Florida, ranked 4th in CNN's Top 100 Best Places to Live! The Key West inspired homes of Banyon Pointe are a rare gem in the heart of Lake Mary. Banyon Pointe is an exclusive, maintenance-free, gated community of only thirty-three luxury single family homes. But hurry...at I write this, only 15 lots remain available.
The homes in Banyan Pointe's charming community combine the charm of Key West's architecture and design with the most modern building techniques and appointments. The use of living space is maximized with their modern and extremely functional floor plans, while the exterior features authentic coastal paint schemes and trim details. And to top it all off, yard and lawn maintenance are taken care of by the HOA. This is worry free living at it's best!
Read Also: Welcome To Seminole County Florida...A Great Place To Live!
Residents will enjoy floorplans offering spectacular designs, perfect for both entertaining and relaxing. The flexible floorplans allow easy customization, featuring media rooms, game rooms, fireplaces and more! Many of their standard features are what other builders consider to be upgrades and options. View many of their standard features below.
Read Also: Lake Mary Florida in Seminole County, Central Florida, Near Orlando
With only 33 homes in the community, resale homes will be a rare find. Click here for a complete list of Banyon Pointe's home's currently on the market. If there are none available now, we'd be happy to notify you as soon as a Banyon Pointe home becomes available. Simply contact us to let us know.
Read Also: Lake Mary Florida City Overview
Banyan Pointe Homes Standard Features |
Classic Exteriors: |
Read Also: Orlando Florida City - Everything You Need To Know!
Looking for specific information regarding Heathrow Florida real estate prices and communities? Get Your Free Market Snapshot.
If you are wanting to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place, while time is still on your side. Please contact us for any real estate assistance you may need.
We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.
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Designated as International Real Estate Specialists and as members of the International Luxury Society, we can assist you with your real estate needs, large or small, in the US or Internationally!
The Team
It's Like Having a REALTOR® with 16 Legs, 16 Arms, and the Brainpower of 8 Sharp and Dedicated Business Professionals... A Strategic Advantage Other REALTORS® Can't Provide!
The Power of a Team Approach
Not long ago, a real estate transaction was a relatively simple process. A one or two page contract, very basic. Now, real estate transactions are becoming more and more complex, with hundreds of loopholes and minute details that need to be attended to. Contracts are multi-paged labyrinths that will make the untrained professional's head spin.
The Concept
A missed detail or step can derail your transaction. That's why Chris Myers and Sandra Lyons are pioneering a new trend in real estate: the multi-person real estate team. The concept is simple. You wouldn't want the surgeon operating on you to have to monitor your anesthesia, find his own surgical tools, or regulate your breathing machine while he or she is performing a delicate maneuver.
Ramifications Are Real
While a real estate transaction is not as life threatening nor complex as surgery, there are very real ramifications to your financial well being that could negatively affect you for years to come if something were to go wrong. With Chris & Sandra's team on your side, you can be sure you're in good hands.
The Team
In business the words team and success are synonymous. That's why The Orlando Property Group has assembled an elite team of its own to make sure that nothing falls through the cracks; that no detail is missed in your very important transaction. Each member has a specific specialty and that's all they perform. They are highly trained in their respective field and you can be assured that your transaction will flow smoothly. And, as we hold the designation of International Real Estate Specialists and are members of the International Luxury Society, we can assist you with your real estate needs around the globe!
So relax! With Chris & Sandra coordinating this extremely well trained team of specialists, you will be assured of a smooth and enjoyable transaction.
Welcome to the beautiful city of Orlando, Florida. Sprawling over the central peninsula of Florida, Orlando and its surrounding cities are some of the most attractive places to live, work, and play in the country. The natural landscape is sprinkled with pristine lakes and provides an enormous amount of outdoor recreational activities from water sports to hiking to relaxing in any of the numerous parks. Orlando and the surrounding cities in central Florida, enjoy a warm subtropical climate with plenty of sunshine and low rainfall. To either side sit the astounding beaches of the Atlantic Coast and the Gulf of Mexico. One visit here and you will not want to leave.
If you are searching for an amazing paradise that you'll never want to leave, then look no further than Orlando and the cities of Seminole County. The Orlando Property Group is your best bet for finding the home of your dreams in this tropical oasis. Whether you are looking for a new home here or selling your current one, The Orlando Property Group can painlessly lead you through the real estate process and provide you with everything you may need.
Seminole County is a nature lover's paradise and is known as "Florida's Natural Choice" because it is home to the state's original amusement park, the native Florida landscape. This beautiful area situated in the central part of the state hosts many sparkling rivers and crystal-blue lakes, and with more than 2,000 of these freshwater spots, water activities are almost limitless. Seminole County is also filled with nature preserves, parks, and wild areas with great opportunities to fish, hike, canoe, and see the local wildlife. Seminole County is blessed with a perfect central location. This provides short drives to nearby beaches and coastal towns, like Daytona and Cocoa Beach, on either side of the peninsula.
Make this your number one resource for real estate information on the Orlando area and the surrounding communities. The Orlando Property Group is very experienced, and they have the ability and professional knowledge to guide you through the home buying or selling process and fulfill your expectations. Use this website to search for available property listings and learn about the various cities, as well as utilize other helpful resources.
Buying a luxury home property can be a very rewarding indulgence and also another avenue of investing your wealth. Making this type of investment is a serious decision, so of course you want to work with a real estate agent who is competent, dependable, and experienced in the luxury home market. We at the Orlando Property Group are experts who specialize in the luxury real estate market in Central Florida, the United States, and internationally. We are very committed to helping create your luxury lifestyle.
If you are selling a luxury property, the professionals at the Orlando Property Group are the best-suited to helping you market your property locally and around the world. We keep a strict watch on real estate market conditions and provide expert guidance and professional knowledge that will help you get the most from your luxury home. We can also show you the most inviting and marketable ways to prepare your home for presentations. The Orlando Property Group is very experienced in the luxury and international real estate markets and is also well adept at working with foreign nationals. 
Please feel free to contact us for information regarding your specific international and luxury home needs by clicking here.
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