2013 was a record year for price increases in the Orlando real estate market, according to experts.  In December, year-over-year average home prices in Orlando rose by nearly a third, bringing them up to the highest level they have been in years.  A number of other cities across the nation also posted significant gains, including Tampa, Atlanta, Phoenix, Minneapolis, and Sacramento.

 

One of the things that all of these cities have in common is the heavy influx of investor interest during the past year.  Indeed, the Orlando real estate market saw a number of foreign investors purchase land and begin plans for both residential and commercial centers.  Furthermore, these cities each reported lower rates of foreclosure, meaning that more of their sales were nondistressed.

 

For the nation as a whole, listings fell by about 6.2%, leaving them a mere 1% above the low levels of 2012.  Still, median asking prices were raised by 8%, and only two major metropolitan areas posted declines.

 

Experts believe that this trend will continue to increase as the Orlando real estate market continues to improve and investor interest remains steady.  For more information and real estate updates, contact Real Estate Closing Solutions of Florida.

 

About Real Estate Closing Solutions of Florida

Real Estate Closing Solutions of Florida is an independent Orlando title insurance and closing agency that focuses on unbiased and equal servicing expertise to all parties in the Orlando real estate transaction.  To learn more about what RECS can do for you, contact us today at 407-615-8550, read our website or stop by our office.