Seven years later and home prices in Orlando are still on the rise. With central Florida being a big hot spot for retirees and even the younger generation, prices don't seem like they will be slowing anytime soon.
"A 6.8% increase year-over-year pushed the midpoint sale price of a home in Central Florida to $239,180 in June, the 84th straight month of increases, according to Orlando Regional Realtor Association," according to National Mortgage News.
"June's price is more than double the June 2011 midpoint sale price of $115,500, according to statistics provided by the group. Single-family homes' midpoint has reached $260,000, up 6.6%, with condominiums at $125,000, up 13.6%."
The story is quite simple. There is a high influx of folks moving to central Florida, however, there is simply not enough inventory. Sellers tend to win in these situations where buyers are trying to outbid one another for a home.
To learn more about the high rise in Orlando home prices, click on the image above.