By comparison, the National Association of Realtors recently reported the preliminary national median sales price for existing single-family homes for all of 2013 was
$197, 100, up 11. 5 percent from 2012 — and the strongest annual price gain since 2005.
That means Florida real estate still has room to grow. That’s one reason foreign
investors keep flooding the market, reflected in data from the National Association of
Realtors recent “Profile of International Home Buyers” that shows 23 percent of all the
U.S. sales last year by foreign buyers occurred in Florida.
Of course, one of the Florida’s hottest real estate markets is Orlando, where a projected North American record 59 million tourists visited in 2013. Many of them are
moving into Orlando for good, or placing second-home roots, explaining why the median sales price of a home in the fourth quarter 2013 increased 21. 1 percent from the
prior year to $172,000. Only the Deltona-Daytona Beach-Ormond Beach MSA corridor
had a higher percentage gain ( 22.9% to $129,000).
One development doing well is the Fountains at ChampionsGate, which is part of
the 36-hole master-planned luxury golf resort and residential community just minutes
from Walt Disney World. Featuring gourmet kitchens, outdoor terraces, and a resort-style pool and a clubhouse within walking distance, these upscale villas offer the precise
standards many overseas buyers are seeking, according to Brookes & Co. managing
director Philip Button.
“Orlando has everything — a fantastic climate, world-class theme and water parks
and some of the best golf courses in Florida,” said Button, whose property investment
firm is marketing The Fountains with longtime local developer Feltrim. “We’ve seen
The supply of
are noted in
Despite the ongoing property value increases, prices in
the Orlando area remain well below their median peak
of $264,000 in 2007, leaving investors excited about
how much further prices may be expected to rise.