Orlando Mortgage - Residential Market Update
Now that we are officially in the New Year, there is no better time to stop renting and make your dreams of becoming a homeowner come true. 2019 is officially upon us, which means housing rates are at an all-time low. Since we are still in the winter season, you could benefit from competitively low prices on your Orlando mortgage if you schedule an appointment with your lender now.
But before you begin searching for your dream home, you should be aware of what the current housing trends are for the Orlando region. So, to help you get started, your local lender with the Harper Mortgage Team has listed the most current residential market update.
Orlando Market Update
The housing trends for all property types have been fluctuating over the past three years, according to Realtor.com. In January 2016, the median price listed was $199,000 and sold for $175,500. One year later the median price listed increased by 10.5% to $219,900 and sold for $191,000. By January 2018, the price rose an additional 12.8% to $247,949 and the median price sold for $225,000.
As for January 2019, the current median listing price dropped by 1.19% to $245,000 and the median price sold for $240,000. Since the current listing price has decreased since the year prior, now is an excellent time to lock in a rate for an Orlando home loan before they get more expensive.
Housing rates for 2019 are predicted to get more expensive by the spring and summertime, therefore, do not wait to schedule a meeting with your local lender, that way you can benefit from the temporarily low prices.
Get Started Today
If you would like to learn more information about the current market trends and what they mean for 2019 or if you are interested in getting started on your home loan application, please contact your local Orlando mortgage lender with the Harper Mortgage Team at 407-614-3095.