STATS SHOTS
Orlando lauded as country’s best city for job growth
The Orlando region is number 1 in the nation for job growth for the fourth consecutive year. According to the Bureau of Labor Statistics, the Orlando
Kissimmee-Sanford metropolitan statistical area (MSA) continued its trajectory as the fastest growing job market in the country for 2018.
The strongest growth in Orlando occurred within the professional and business services category, which accounted for combined 30 percent
growth. Construction followed close behind with 22 percent of the total growth, while leisure and hospitality contributed 20 percent.
Condos lead in inventory rise
As of February of 2019, Orlando’s overall
inventory of homes available for purchase
had seen four consecutive months
of year-over-year increases, ranging from
a low of 2 percent in November to a high
of 8 percent in January.
Condo inventory, however, had been on
the rise for six consecutive months and
posted increases in the double-digits.
Change
September 2018 +3%
October 2018 +7%
November 2018 +12%
December 2018 +17%
January 2019 +26%
February 2019 +29%
Flips slip 3 percent
Home flipping — defined as a
purchasing then selling a property
within 12-months — dropped 3
percent in Orange County in 2018
and stayed about the same in
Seminole County. In both counties,
investors saw smaller ROIs compared to 2017.
ORANGE COUNTY FLIPPING FACTS
Percentage of home sales 8%
Number 1,723
Change to 2017 -3%
Change to 2013 -6%
Purchased with cash 78%
Median purchase price $150,000
Median flipped price $207,000
ROI 2018 38%
ROI 2017 49%
SEMINOLE COUNTY FLIPPING FACTS
Percentage of home sales 7%
Number 574
Change to 2017 +0.10
Change to 2013 -5%
Purchased with cash 79%
Median purchase price $158,500
Median flipped price $217,450
ROI 2018 37%
ROI 2017 54%
Source: ATTOM Data Solutions
Orlando turnover zips along
Homeowners in Orlando stayed in their homes an average of 6.59 years, the
fourth shortest time nationwide according to a study that looked at the years
between 2014 and 2017.
• The cities with the shortest tenures — Las Vegas, Phoenix, Austin, and
Orlando — are all in warm-weather areas.
• Cities with shorter housing tenure have greater price appreciation. The
10 cities with the shortest tenure have an average three-year home price
appreciation of 30 percent compared with just 12 percent for the 10 cities
with the longest tenure.
ORLANDO FACTOIDS
Average housing tenure 6.59 years
Median home value, 2017 $219,000
Three-year home price appreciation, 2014 – 2017 35%
Source: Lending Tree
CONDO INVENTORY UPSWING
YEAR-OVER-YEAR COMPARISON
orlandorealtors.org 5
/orlandorealtors.org