Orlando Housing Market: Trends & Prices

Orlando Real Estate Market Overview

(Last Updated – 11/2021)

Family fun is probably what comes to mind when you think of Orlando: Disney World, Universal Studios, SeaWorld, and other attractions. But Orlando also features historical charm, lakes, museums, and the 50-acre Leu Gardens.

While Orlando receives visitors from around the world thanks to its major vacation appeal, over 287,000 residents call Orlando home, according to 2019 census data. In fact, the Orlando region is the second-fastest-growing region among the 30 largest cities in the United States.

The boom helped Florida see major job growth for four years in a row before the pandemic. The pace is picking up again, along with a housing market that’s still seeing high demand. Housing prices in Orlando rose more than 18% since last year, and homes sometimes sell for more than list price.

The weather is hot, but the Orlando real estate market is too. So let’s take a look at the details.

Recommended: Home Ownership

Overall Orlando Market Trends

The real estate professionals at Redfin consider Orlando to be a very competitive market. They report that many homes for sale receive multiple offers and sell in around 11 days. Popular homes in Orlando can sell in just five days.

Recommended: Local Housing Market Trends by City

Orlando Housing Market Forecast

Orlando home prices were on fire over the past year but may be simmering down a bit. However, low inventory combined with high demand will likely stoke Orlando’s seller’s market for at least the next 12 months, according to real estate experts.

While the median price in Orlando jumped to $325,000 in 2021, prospective homebuyers interested in making a move to Orlando may find they have to act fast and waive contingencies if they see a home they love.

*Graph taken from Zillow as of 09/2021

Population Growth in Orlando

Orlando saw an increase in population of over 20% since 2010, according to 2019 U.S. Census Bureau data. In fact, the population growth in the Orlando region has been so significant, the area is likely going to gain a seat in Congress.

Many of the new residents are coming from elsewhere. While about 30% of the population growth between 2018 and 2019 reportedly stemmed from organic growth — meaning births outnumbered deaths — 70% was due to migration from locations outside Florida, including other countries.

You may be surprised to learn that most new Orlando residents are not snowbirds. More than 45% of newcomers are between the ages of 25 and 54, census data shows.

And the City Beautiful’s population growth shows no signs of slowing down. A 2021 report from Redfin estimates that Orlando gained 60,000 residents in 2020 alone. Except for 2016, that was the highest number of new residents since 2010.

The fourth largest city in Florida and the 32nd largest metro area in the United States, Orlando is currently growing at a rate of 0.53% annually.

Demographics of the Orlando Market

Popular Orlando Neighborhoods

U.S. News ranked Orlando the 60th best place to live in the entire country, so no matter what neighborhood you choose, it sounds like you’ll have a great experience.

Of course, you want to do your due diligence before buying a home, so check out the demographics of some of Orlando’s most popular neighborhoods.

Colonialtown South

This neighborhood was primarily constructed during the 1920s Florida land boom, so there are plenty of lovely historical homes to choose from in Colonialtown South, which also features brick roads and tree-lined streets.

Colonialtown Housing Market

College Park

College Park is considered one of Orlando’s culinary hot spots and has some great locally owned restaurants to choose from. Looking for more excitement? College Park has fun events year-round and cool boutiques for shopping.

Commuting is easy; the neighborhood is close to Interstate 4 and only 2 miles from Downtown.

College Park Housing Market

Lake Cherokee

Lake Cherokee is home to about 160 historic structures dating back to the 1870s, many of which are residences.

This primarily residential neighborhood has ample historic and modern charm and is very walkable, so enjoy the view when you take a neighborhood stroll.

Lake Cherokee Housing Market

Lake Nona

This relatively new community, opened in 2011, sprawls across 17 square miles and places a high value on sustainable design and technology.

Lake Nona is a health- and wellness-focused community that provides hiking trails, health centers, and ample outdoor space for residents to enjoy.

Lake Nona Housing Market

Clear Lake

The obvious appeal of living in the Clear Lake neighborhood is access to Clear Lake. Playgrounds, trails for biking and jogging, fitness stations, walking paths, and picnic tables provide ample opportunity for families to get fresh air and exercise.

Clear Lake Housing Market