Central Florida Real Estate in 2017
Real estate experts have predicted that Orlando will be among the top real estate markets nationally in 2017. It’s placed at number seven among other growing cities like Portland, Oregon, and Sacramento, California. Analysts project a price growth of approximately 5.69 percent and sales growth of 6.1 percent. This means that Orlando home values will increase nicely in 2017.
Orlando is home to numerous attractive neighborhoods that feature a wealth of desirable properties. However, we expect three of these areas to bypass the rest in terms of Orlando home values over the next year. These are: Thornton Park in Downtown Orlando, Oviedo and Winter Park. A closer look at each of these communities reveals why they are especially appealing to buyers and why they should be considered when looking at where to purchase a home in 2017.
Thornton Park (Downtown Orlando)
Beautiful Thornton Park is a “must” destination for lovers of the arts and community festivals. Construction on the new performing arts theater was completed just a few years ago, and the imminent opening of the Orlando City Soccer Stadium should make this downtown Orlando neighborhood even hotter. The expansion of I4, combined with a bustling downtown quarter, make Thornton Park attractive to a wide range of buyers. That’s because downtown Orlando hosts farmers markets, wine and art walks and numerous festivals and events?throughout the year. If you want to enjoy a spirit of community, unique shops and fine dining, then Thornton Park may be the neighborhood for you. Thornton Park real estate has experience positive growth since mid 2012 and only a 3.3% increase in 2016 compared to 2015. With a blend of historic homes and newly constructed luxury condominiums, Thornton Park has a property type for everyone. We predict that Thornton Park real estate values will increase 12% over the next year.
Several national publications consistently rank Oviedo as one of the best places in America to raise a family. This community boasts small-town charm in the midst of the metropolitan area. People who move here can expect A rated schools and quiet neighborhoods that are rarely troubled by crime. With a median closing price of $270,000, Oviedo real estate is relatively affordable considering the quality of the community. Friendly neighbors and convenient services make Oviedo a popular choice to relocate. If you are looking for a family friendly Orlando suburb that close to Downtown Orlando, this is your place. Since 2012 real estate value in Oviedo has increased steadily with 2016 home values rising 7% over the year before. We are predicting a 9% increase in Oviedo real estate values over the next year.
It’s difficult to beat Winter Park’s Park Avenue when it comes to festivals and community events. Locals really love to take advantage of the nightlife and the wealth of restaurants and shops. A thriving arts community keeps things hopping too. The median closing price on properties in Winter Park is about $248,000, making it an affordable alternative. Homes here are spacious and feature all of the modern conveniences. With the current commercial and residential renovations occurring along 17/92 (S. Orlando Ave), night life is not limited to Park Avenue anymore. Since 2011 Winter Park real estate has increased each year with 2016 having a 10% increase over the previous year. Outside of Park Avenue’s luxury area real estate, we expect to see 12% growth in Winter Park real estate values.
If you are looking to relocate speak with an experienced Waypointe Realtor about Orlando home values in these and other communities throughout the Orlando metropolitan area. With their assistance, you’ll have little trouble finding a neighborhood that’s just right for you as well as the home you’ve been dreaming of.