As we head into the new year, it’s safe to say that the booming real estate market isn’t slowing down any time soon! In addition to homes across the nation being listed at a higher median price, they’re also selling more quickly. More specifically, in October 2021, the median listing price reached 380,000 dollars — 9 percent higher than a year ago and 22 percent higher than two years ago — and sold in an average of 45 days — 8 days faster than a year ago and 21 days faster than two years ago.
Below, we take a closer look at the expectations for the Orlando real estate market in 2022 and also share how The Urban Dog Group is responding to the ever-increasing demands from home buyers and sellers.
A Look at the Orlando Real Estate Market
Beginning in summer 2020, an increase in remote work as well as a desire to live in less dense and cheaper areas brought tens of thousands of new residents to Central Florida. This population boost led to more home sales and higher prices.
It makes sense, then, that Central Florida experienced a historic seller’s market in 2021. As of last month, the area was on pace to have the most home sales in at least a decade. Plus, the median home price was at an all-time high, coming in at 325,000 dollars. Overall, Orlando had an annual listing price increase of 20 percent, making it one of at least five metro areas across the nation that saw an increase of 18 percent or higher.
Central Florida home buyers and sellers can expect even more growth in 2022. In fact, according to Realtor.com, home sales are anticipated to increase 8.8 percent year-over-year in 2022. Additionally, prices are expected to rise 5.4 percent year-over-year in 2022. This data indicates that home buyers will continue to face some major challenges, including low inventory, fast-moving sales, higher prices, and increased mortgage rates.
Meet the Newest Realtor at The Urban Dog Group
Given the growing demand for Central Florida real estate, The Urban Dog Group is excited to introduce the newest member of our team. Please welcome new realtor Ashley Grove! Ashley, who looks forward to purchasing her first home soon, is a single mom to two sons, Halden (10) and Evan (12), and their fur baby Elsa. In her free time, she enjoys volunteering at local children and animal charity events. She brings a high level of energy and care to everything that she does and can’t wait to help future clients on their real estate journeys.
As real estate experts in Central Florida, we bring a wealth of knowledge and experience when it comes to buying and selling homes in Orlando, Winter Park, Ocoee, and other nearby areas. Thanks to the global reach of Coldwell Banker Realty, we can help you buy and sell properties outside of the Sunshine State as well. Check out our Featured Listings for current and recent sales!
Let The Urban Dog Group help you with your real estate needs! Contact Christine Elias at email@example.com.