As I mentioned last week, in 2012 there were over 2000 single home sales that took place within 5 miles of Downtown Orlando. The median sales price of these homes increased from 2011 – 2012 and it seems the trend is continuing into the new year. Each week for the next few weeks I’m going to show you how the median price is on the rise in some of our favorite Downtown Orlando neighborhoods!
This week I’m going to show you how Lake Eola Heights has increased from 2011 to 2012. There were actually more homes that sold in 2012 in this neighborhood than in 2011 – almost double. This increase in activity and demand has brought the values up quite a bit.
The median price increased in 2012 by over 20% to $275,000. If the trend continues it will be on the rise in 2013 as well. The median listing price for active and pending homes in this neighborhood is currently about $319,000. That’s a huge increase over the last two years for this area.
The downside is that as the home values increased the average time on the market did as well. This is mainly because there are less home buyers searching at these higher price points and therefore it takes a little longer to sell.
What does all this mean?
You may finally have equity in your Lake Eola Heights home! Don’t miss your chance to sell. Contact us today to sell your Eola Heights property.
407-494-2820 direct*This information is based on personal data I have gathered from the local MyFloridaRegional MLS system. It is deemed reliable but not guaranteed. Image: Personal of flowers near Downtown Orlando