2022 is looking good for the real estate market in Lake Nona, Florida. So, if you’re planning to move here or planning to sell your Lake Nona, Florida property, now is the best time to act!
However, if you’re still not convinced about moving into Lake Nona or selling your Lake Nona home, reading about the latest real estate news in Florida might convince you. Get the latest information on market conditions, price range, real estate trends, and more. Read on to find out the most recent real estate news and trends in Florida this 2022.
Lake Nona Real Estate Trends
According to Realtor, Lake Nona is a popular neighborhood to live in if you can afford to buy homes in the $400,000 range. Surprisingly, even in light of the pandemic, demand for real estate is on the rise, but inventory of properties for sale is low. And it’s this combination of high demand and low inventory that’s driving prices up.
When it comes to rent prices, Florida in its entirety saw some of the highest rent increases in the country last year. Rent.com’s latest data showed Orlando’s average one-bedroom downtown apartment increased 38% year-over-year, far above the 20% national rate and 5% typical year increase. As for Lake Nona, there are currently 13 rentals listed on Realtor, with a range of $1,800 to $3,100 per month.
Experts say that national rent prices are expected to increase up to 7% in 2022 — more than house values will appreciate, though Florida may easily reach above the average. However, it will deepen the wedge in wealth between those who rent and the people who invest in a property.
Real Estate Trends in Lake Nona, FL
Aside from statistics, it is also important to look at some real estate trends you should expect in 2022 before making your big move.
Interest rates will continue to increase
In January 2020, mortgage rates were around 3.7 percent. And then the pandemic happened, and the Federal Reserve Bank lowered the federal funds rate to between 0 and 0.25 percent, causing mortgage interest rates to drop below 3 percent. As expected, this won’t last long. As pandemic restrictions ease and businesses recover, interest rates may easily climb back up to 3.5 percent in 2022.
iBuyers are catching up with the tides
After reading all of these real estate market news and trends, are you ready to sell your old home to us and speed up the process of moving?
Sell to a Professional Home Buyer!
If you’re looking for quick ways to sell your home fast for cash, you should consider selling to a professional home buyer in Lake Nona, Florida. Who has the time to sell your property the old-fashioned way when you’re looking to make a quick buck? We understand the urgency, and we’re here to help.
Here at Kindred Homes, we are trusted cash home buyers in Lake Nona, FL. We can provide you with the best price for your home while still ensuring a quick close so you can sell your home for cash, ASAP. If you don’t want to worry about the hassle of listing your home and working with a real estate agent, going through the motions of a regular sale, just sell your home to us! We’ll take care of the rest.
Our home-buying process does not involve getting pre-qualified by a mortgage bank in order to obtain a home loan or listing the property on the MLS or any other listing platform. The reason our team at Kindred Homes is able to purchase properties very quickly is because we use our own money, meaning we can close faster than traditional buyers. Give us a call at (407) 705-3779 and learn more about the home buying process today!