Source: OrangeObserver.com —
Central Florida real estate is about as hot as a typical local summer. The forces that kept the 2020 market strong, despite the COVID-19 pandemic, remained in play last year. And some industry professionals believe that will be the case in 2022 — and beyond.
The biggest challenge in the local real-estate market has been inventory. According to the Orlando Regional Realtor Association, the median home price in October was $325,000 — up from $269,950 at the same time in 2020. Inventory for the month was 3,406 homes — down from 3,880 in October 2020.
“It’s a handful of things that add up to a big decrease in availability,” said Realtor Tennille Biggers, of Keller Williams Elite Partners III. “We can’t ignore the low interest rates. They have continued to be low in 2021. They were really low last year, too, and I think that really got the fire burning.”