Top Gyms in Oviedo and Winter Springs

Top Gyms in Oviedo and Winter Springs

Working out can feel like a burden if it’s been a while. Many people will wait to make it their new year’s resolution before they set foot in a gym for all of 3 weeks. But really, 80% of people who joined a gym in the beginning of the year quit within 5 months. Why wait for the new year? The best time to start is actually NOW

I love working out, if it’s the right workout. So I decided to test out different gyms all around Oviedo and some in Winter Springs and bring you my favorites, the pros and cons and then rate them on cleanliness, class offerings, hours open, customer service, caloric burn (intensity), and amenities.  

Before I start with my top choices for gyms in Oviedo/Winter Springs, let me begin with a few caveats to keep in mind as you hear my assessment of the gyms I’ve chosen from my experience:

Competitive

I’m competitive by nature and love aggressive, intense workouts with high intensity and training 

Bore Easily

I get bored easily and not a fan of monotony, especially in a workout. 

Disciplined

I program my schedule and discipline myself to go to the gym every workday and sometimes Saturday as well

Need Motivation

I have zero motivation in big box gyms and can do a great job staring at weights not knowing what workout to do and then when I do, just sandbag it and walk out with little satisfaction. 

Experienced

I’ve tried every workout you can imagine over the last two decades (from hot yoga, to rock climbing, contact boxing to Zumba) so finding something engaging and motivating can be a challenge for me. As a result, I have high expectations in a gym and workout. 

Looking for Change

This list is for the Oviedo/Winter Springs resident that is looking for a change, possibly has plateaued or just wants to know what’s out there that’s different from the same ol’ thing. 

Now, research has shown that when a gym is more than 15 minutes away, the consistency of attendance declines. Already as it is, consistency in a gym is low among members. To see good results at any of these gyms, please commit to at least 6 months. It takes time to develop strength and burn fat so be patient. That’s why it’s important to find a gym you connect with that motivates you and helps you reach your fitness goals.  

 

In this list you’ll note that I did not include big box gyms like the Zoo, LA Fitness, Planet Fitness, and 24 Hour Fitness. Everyone pretty much knows what they offer and the cost, but if you’re like me and need motivation to see results, the gyms below are worthy of your time.  

Our Top Picks… 

#1 TeamFit 45 

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Price: $50-200 (based on packages) 

Pros: Wonderfully high-energy intense workout. Heart monitor provided to track your heart rate and monitor your calories burned throughout your workout. Fun atmosphere. Feels like a team even though you can compete against yourself and others in your station. They have filtered water station and showers. The different stations keeps it fresh and a new workout is provided every day. They offer assessments and it’s definitely results driven. Personal training is offered. They have an app with your info and to register for classes. 

Cons: Communication wasn’t always easy. Distance from Oviedo residents.

Facts: High energy workout, heart monitor provided to track pulse and calories burned throughout workout. Lots of class times that work for different schedules. 

Website: teamfit45.com

#2 Orange Theory Oviedo

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Price: $159 (Unlimited classes)  

Pros: Unlimited assessments throughout the month to track your progress. High energy cardio and strength training. High energy music and coaching that is motivating and keeps you on track where ever you are physically. Showers and filtered water. They offer water bottles for $1. Follow up email with workout results, calorie burn, and tracking your progress. Class times offered. 

Cons: Cost can be a deterrent for many.

Facts: Unlimited package is $159 per month but they have different plans available. You have to buy a heart monitor but they let you use one if you don’t have it for your first class. This is the longest I have ever been on a treadmill (which I hate) but I stayed motivated and focused. Felt great at the end.

Website: oviedo.orangetheoryfitness.com

#3 My House Fitness Oviedo

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BEST PERSONAL TRAINING GYM

Price: $100+ (b
ased on personal training packages)  

Pros: Boutique gym that’s very personalized. Small classes. Personal training focused. They customize workouts to your needs and body. They do monthly assessments to track your progress. Towels and water bottles are offered but if you bring your water bottle, they have a filtered water station. Wipes available clean down your station. 

Cons: No showers and no open gym floor time. Classes are no high energy or high impact. Plenty of strength training, but not as much cardio throughout the week. 

Facts: Focus is more on personal training than classes. 

Website: myhousefitnessoviedo.com

#4 Riverside Fitness

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Price: $34.99 (unlimited gym use and classes) 

Pros: No contracts or initiation fees. Only $35 per month for unlimited classes and open gym. Class options are Boot Camp, Amrap and yoga. Boot Camp is well organized with a timer and offers a great full body workout. The members are all really nice and welcoming. Trainer goes around to make sure you’re doing the work out correctly. The yoga class was good. Sign-up is easy online and gets you connected with their MindBody app to register for classes. 

Cons: There are not a lot of class times, but the ones that are are convenient for most people’s schedules. Drinking fountain but no filtered water station or towels. Not really easy to connect immediately with staff. Not high energy classes overall, but good workout.

Facts: The open floor gym and the classes offered are in different buildings in the same shopping center. Showers are in the main gym facility. Great prices and definitely something to consider if you’re in it you live in the east part of Oviedo. Membership includes one personal training session a week for 30 minutes where you can go over something technical, accountability, or Nutrition. No childcare but was really cool to see two young kids joining their parents through the circuit. They modified workouts but they got to do it with their parents.

Website: riversidefitness419.com

#5 Crossfit Tough As Nails

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Price: Unlimited options = $100 (Student), $125 (First responders & teachers), $145 (regular option)  

Pros: If your competitive in nature this is a great work out for you. Classes are offered several times throughout the day for the WOD (workout of the day). Trainers care about technique and form. Very encouraging environment and supportive in teamwork. Aggressive workouts but can be tailored to your strength and ability. Showers available. 

Cons: If you don’t pay attention to the trainers, you can get very injured in the workout. The goal at Crossfit is to continue lifting and beating your personal record, so if you don’t want to lift heavy, this may not be the place for you.

Facts: This CF box offers MMA and Jiu Jitsu training. They focus on competition if that’s your goal. Every year they encourage the members to sign up for the Crossfit Open which is very encouraging for new and experienced members. If you’re looking to build muscle in a competitive atmosphere this is definitely a great option. They offer teachers and first responders discounts on memberships. 

Website: tlpnails.wpengine.com

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#6 Elite Boxing Fitness Center 

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BEST TECHNICAL BOXING GYM 

Price: $99+ (based on different training packages)  

Pros: Great atmosphere and family feel. Amazing work out. The most authentic boxing experience you’re going to have in Oviedo hands-down. This is definitely not your boxing class experience that you would get at a big box gym. This is a contact boxing gym so make sure to buy mouthguard and headgear. They’ll teach you the right technique and great training. Offer kids classes. 

Cons: No showers. Website is hard to navigate to find any information so it’s best to give him a call to find out the class times. Not a workout for everyone. 

Facts: Definitely not for the faint of heart. Very aggressive and intense. Water fountain, but no filtered water. I got punched in the face and left with a bruise. Didn’t like it but loved the intensity. Dorian is the owner and main trainer at this gym and he loves what he does. Definitely a lot of passion and the members love training here. 

Website: eliteboxingfitnessstudio.com

#7 9Round Fitness 

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*When I walked in I was a little confused because there’s no exact class time.  

Price: $75+ (based on different packages)  

Pros: You come and go as you please and you jump in and do nine rounds of three minutes each with 30 second break in between with a corporal work out. Different workout every day which makes it fun but definitely kickboxing and boxing is a focus. No class times so it’s good to go with a friend if you’re able and definitely good on flexibility for your schedule.

Cons: If there’s no one in the gym it can be a little lonely and not quite as competitive or exciting, but the evening is packed. If it is packed, you have to wait for the end of the round and to jump in. Water is a dollar and there is no water fountain. No showers and no towels. 

Facts: Different pricing packages available based on month-to-month, one year year, six week challenge or six month challenge.

Website: 9round.com/oviedo
 

#8 Title Boxing

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Price: $69+ (based on different packages)  

Pros: This place had very friendly staff, good hype-up music, showers, High-intensity cardio workout. Good central location in Oviedo off of Alafaya. They offer a section of free weights to do on your own. 

Cons: Insufficient classes in the early AM. One year contractual commitment and then month-to-month thereafter.Doing boxing and kickboxing over time may become redundant if you want more of a variety. 

Facts: This is a boxing/kickboxing gym. Need to buy gloves and wristbands. They have a water fountain but make sure to bring your own water bottle or you may be waiting in line after every round to catch a sip.

Website: titleboxingclub.com/oviedo

#9 Breakthrough Fitness

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Price: $100+ (based on different training packages)  

Pros: They offer some classes and you can take it with or without the class trainer. Really great customer service from the staff. Delicious shakes are made on the spot and sold at the gym. Staff really cares about your fitness journey. 

Cons: If you didn’t care for the workouts on the first three days, your motivation for returning to do the same workout later that week may wane. No showers or filtered water. 

Facts: Monday, Tuesday, Wednesday schedule is the same as Thursday, Friday, Saturday. AMRAP (As many reps as possible) workouts and high interval intensity training is the norm. Drinking fountain is provided. Intensity was not as high in the workouts as I would have liked. 

Website: breakthroughfitnessfl.com

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Honorable Mentions 

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YMCA Oviedo 

Beautiful facility with pool, childcare area, open gym, and classes. Great for the whole family with affordable prices. But again, if you are looking for results and need guidance and motivation this probably isn’t the best fit. 

Website: 
YMCA Oviedo

Anytime Fitness

Good alternative to big box gyms. It’s a more intimate feel but still has all the machines and weights needed. There are not a good amount of class offerings but they do have a nightly boot camp with packages. They offer group training and personal one on one training. Competitive rates and great for those disciplined to work out on their own. They even offer Hydro massage for an additional $10 a month. They are open 24 hours. One of the biggest differences between big box gyms and this anytime fitness in Oviedo is that it is family owned and very involved in the community.

 

I personally have not seen good results and big box gyms because of my need for motivation, but if you do this could be a really good alternative. 

 

Price: $30+ (depending on package)

Website: Anytime Fitness Oviedo

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To prove my point, I had a free 7-day pass and never made it out there because the 3 classes they offered clashed with my schedule and I personally have no drive or desire to workout on my own. 

Let’s Wrap This Up…

I’ve broken up these reviews based on my assessment. Some of the things that matter to me may not necessarily matter to you which is why I want to give you all the options. Whichever gym you choose, just make sure you love the style and feel of the gym so that you maintain consistency. 

 

Remember that beyond 15 minutes from your house you are less likely to commit to a gym and I want to make sure consistency is there. Don’t try a gym for a month and give up. Whichever one you choose make a commitment to be there for at least six months to a year in order to really see a difference. I recommend changing up the gym after a year and a half or when you start plateauing.

 

I’ve chosen my way to workout and stay in shape, what’s yours? Find a way to stay in shape and feel great this year!

Holiday Events in Central Florida 2018

HOLIDAY EVENTS IN CENTRAL FLORIDA
Christmas time is our favorite time of year. It’s a great time to be able to enjoy the lights and festivities with family and friends. Here are some of the local events happening in Central Florida that you don’t want to miss. Continue reading “Holiday Events in Central Florida 2018”

City of Oviedo’s 12 Days of Christmas

Oviedo 12 Days of Christmas

Celebrate the 12 Days of Christmas with the City of Oviedo through a little song with your iHeart Realty hosts, Jenelle Ferrer and Hilda Hernandez for the second year.

The 12 Days of Christmas is an Oviedo tradition with great events throughout the holiday season:

  1. November 29: Food Truck Thursday at Center Lake Part from 6-9pm. Tree lighting, food trucks and Santa
  2. November 30: The Nutcracker Performance by University Performing Arts Center – 6-8pm at Center Lake Park – FREE
  3. December 2: Build a Bear with Oviedo Medical Center for Nemours Children Hospital – 1-4pm
  4. December 5: Santa Paws at Dog Park in Center Lake Park from 6-8pm. FREE event.
  5. December 6: Dueling Pianos and Ugly Sweater Party 6-10pm– First 50 tickets $5, $10 until sell out. Availble on eventbrite.com
  6. December 7: Holiday Bingo at 7pm
  7. December 8: Snow Mountain revamped! Introducing Winterfest and OWS Chamber Holiday Parade. Parade starts at 3:30pm, Winterfest: 2-4pm VIP, 4-8pm General Public at Center Lake Park. Tickets on sale now.
  8. December 11: Santa’s Calling from 6-8pm
  9. December 14: Movie in the Park at Center Lake Park at 6:30pm. FREE event.
  10. December 15: Breakfast with Santa at Cultural Arts Center Lake Park from 9am-12pm. $10 adult, $6 child.
  11. December 16: Jingle Bell Run 5k at 8am
  12. December 21: Bonkerz Comedy Productions with Mike Charette. Cocktails 6-7:30pm, Comedian 7:30-9pm. Tickets available on eventbrite.com

For more information and locations visit www.CityofOviedo.net or call 407.971.5590

iHeart Realty by Waypointe Realty is a fun, engaging show that brings you real estate news through authentic, clear messaging, giving you what you need to know about today’s real estate market and events happening around town.

When working with real estate professionals, it’s important to choose someone who knows the area and is an expert in the market. At Waypointe Realty, we strive to stay educated about our market and understand our sellers and buyers, their needs and how we can best serve them in one of the most important decisions they’ll make.

We help clients all over Florida sell and buy their homes with ease. Our customers are the main reason that we have been successful as professional real estate agents in Central Florida. While we help clients all over Florida, we primarily work in the Orlando area with our office in Oviedo, Florida.

WE GUARANTEE TO SELL YOUR HOME OR WE’LL BUY IT!

So how do you get started with either selling or buying a home? Contact us for more information.

 

Orlando Housing Market Snapshot- October 2018

orlando housing market snapshot

Orlando home prices, sales rise as inventory continues to slip in September

One year after Hurricane Irma threw a wrench into the Orlando housing market, data from the Orlando Regional REALTOR® Association shows positive September-to-September comparisons for both sales and median price. Inventory, however, stayed on its year-over-year downward slide.

“The good news,” points out ORRA President Lou Nimkoff, “is that in September the actual number of homes available for purchase reached its highest point this year. The month-to-month increase in inventory, combined with the traditional autumn lull in sales, is an opportunity for those buyers who struggled with competition during the summer. In addition, fall home shoppers can also enjoy a bit more attention from REALTORS®, lenders, and other service providers who typically do not have quite as many clients to attend.”

Median Price

The overall median price of Orlando homes (all types combined) sold in September is $233,000, which is 3.6 percent above the September 2017 median price of $225,000 and 1.3 percent above the August 2018 median price of $230,000.

The median price for single-family homes that changed hands in September increased 3.8 percent over September 2017 and is now $254,250. The median price for condos increased 6.4 percent to $125,500.

Sales and Inventory

Sales of single-family homes (2,096) in September 2018 increased by 7.6 percent compared to September 2017, while condo sales (390) increased 23.4 percent year over year.

Sales of distressed homes (foreclosures and short sales) reached 124 in September and are 3.1 percent less than the 128 distressed sales in September 2017. Distressed sales made up just 4.5 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in September (8,092) represents a decrease of 6.4 percent when compared to September 2017, and a 3.6 percent increase compared to last month. There were 5.6 percent fewer single-family homes and 2.6 more condos, year over year.

Current inventory combined with the current pace of sales created a 2.9-month supply of homes in Orlando for September. There was a 2.3-month supply in August 2018 and a 3.4-month supply in September 2017.

The average interest rate paid by Orlando homebuyers in September was 4.66, up from 4.57 percent the month prior.

Homes that closed in September took an average of 48 days to move from listing to pending and took an average of 84 days from listing to closing.

Buyers

This is a great time where we see buyers coming out of hiding because inventory and pricing has stabilized. At Waypointe, you have access to properties not listed publicly as well as get properties before they come on the market. Buyers need the assistance of REALTORS® to help them compete against other buyers, for example by crafting attractive offers that take into consideration current appraisal issues and advising on contingencies, in addition to assistance through the many traditional functions that a buyers’ agent performs. Ready to start the homebuying process? We can help! Contact us today.

Sellers

Inventory and pricing has stabilized. If you’re looking to sell, we can help you get the MOST money from the sale of your home. Looking to relocate, move up to a larger home, purchase your first home or sell your rental? We can help. Contact us today!

Orlando Housing Market Snapshot- September 2018

Orlando housing market september

Orlando median home price continues to gain amid sales slowdown

The year-over-year median price for Orlando homes sold during the month of August continued on its years-long upward trajectory, albeit at a slower pace as dwindling inventory takes its toll on sales.

“Like across much of the country, sales are sliding in Orlando as would-be buyers are either priced out of the market or are deciding to postpone their search until more homes come on the market,” explains ORRA President Lou Nimkoff.

“Fortunately for us, our housing market is bolstered by a healthy economy, prices that compare favorably to other major cities, and a quality of life that attracts an influx of new residents by the thousands each year. In addition, our market benefits from international homebuyers who look to Orlando for investment and vacation properties.”

The overall median price of Orlando homes (all types combined) sold in August is $231,000, which is 2.7 percent above the August 2017 median price of $225,000 and 1.7 percent below the July 2018 median price of $235,000.

Year-over-year increases in median price have been recorded for the past 86 consecutive months; as of August 2018, the overall median price is 100.0 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in August increased 4.9 percent over August 2017 and is now $255,000. The median price for condos increased 12.0 percent to $125,975.

Sales and Inventory

Sales of single-family homes (2,583) in August 2018 decreased by 6.7 percent compared to August 2017, while condo sales (440) increased 3.3 percent year over year.

Sales of distressed homes (foreclosures and short sales) reached 121 in August and are 40.7 percent less than the 204 distressed sales in August 2017. Distressed sales made up just 3.6 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in August (7,808) represents a decrease of 11.6 percent when compared to August 2017, and a 3.8 percent increase compared to last month. There were 10.2 percent fewer single-family homes and 8.5 percent fewer condos.

Current inventory combined with the current pace of sales created a 2.3-month supply of homes in Orlando for August. There was a 2.2-month supply in July 2018 and a 2.5-month supply in August 2017.

The average interest rate paid by Orlando homebuyers in August was 4.57, down from 4.59 percent the month prior.

Homes that closed in August took an average of 49 days to move from listing to pending, and took an average of 85 days from listing to closing.

Pending sales in August are down 21.4 percent compared to August of last year and are down 6.1 percent compared to last month.

Buyers

This continues to be a challenging time for buyers in a market where prices are high and options are low. At Waypointe, you have access to properties not listed publicly as well as get properties before they come on the market. Buyers need the assistance of REALTORS® to help them compete against other buyers, for example by crafting attractive offers that take into consideration current appraisal issues and advising on contingencies, in addition to assistance through the many traditional functions that a buyers’ agent performs. Ready to start the home buying process? We can help! Contact us today.

Sellers

Inventory continues to drop and prices are steady– it’s a great time to sell, while being realistic with the value of your property! However, sellers should be aware that while selling their home is likely to be quick (particularly in the lower price categories) securing a new residence could be a challenge and requires the assistance of a REALTOR®. Those seeking to move up into larger, more expensive homes will have more choices and less competition than those seeking to downsize. If you would like to know the value of your home, we would love to help. Contact us today!

Oviedo, Florida Spotlight: iHeart Realty

Oviedo, Florida is a city located in NE Seminole County (Greater Orlando Area).

Oviedo on the Park is considered Oviedo’s newest downtown area. Oviedo was established in 1925 with a population of 800 residents. It is 16 square miles in Seminole County. Early settlers grew crops of celery and citrus and traveled to Orlando and Sanford to distribute the produce.

Fast forward to 2018, celery and citrus are no longer grown here in large farms as they were in 1925 and Oviedo has seen growth in different ways.

Stats in Oviedo:

  • Median Age: 34
  • Median Household Income: $79,786
  • Average Home Value: $292,612
  • Expected Population in 2022: 40,408
  • Current Population: 37,128

 

Many may consider Oviedo a sleeper community, but more and more industries are coming into this city. Restaurants, stores and boutiques are on the rise. School systems are among the top rated in the state drawing people from all over. New mixed use developments, commercial properties, residential single family homes, townhouses and apartments are available.

 

For more information to buy or sell in Oviedo, Florida contact us at 407.801.9914 or complete this form.

Subscribe to our channel and check out our other episodes like: https://www.youtube.com/watch?v=Nrmb3…

 

 

What to Ask When Choosing A Lender

When looking at purchasing a home and acquiring a loan, you’ll be doing some research on lenders. Here are a few questions to ask when choosing a lender to choose the one that best meets your needs:

1. What are the most popular mortgages you offer? Why are they so popular?

2. What fees are included in the loan; and what fees will be due at closing?

3. Are your rates, terms, fees and closing costs negotiable?

4. Do you offer discounts for inspections, homeownership classes or setting up automatic payments?

5. Will I have to buy private mortgage insurance (PMI)? If so, how much will it be and how long will it be required?

6. What are your escrow requirements?

7. What bill-pay options do you offer?

8. What would be included in my mortgage payment (homeowner’s insurance, property taxes, etc.)?

9. Which type of mortgage plan would you recommend for my situation?

10. Who will service this loan – your bank or another company?

11. How long will the rate on this loan be locked-in? Will I be able to obtain a lower rate if the market rate drops during the lock-in period?

12. How long will the loan approval process take?

13. How long will it take to close the loan?

14. Are there any charges or penalties for prepaying this loan?

15. How much in total will I be paying over the life of this loan?

16. Can you tell me how much my monthly payment would be for what I qualify for?

These questions can help prompt an educational discussion with potential lenders that keep you informed and aware of your options and the loan process when purchasing a home.

Ready to start? Contact us for a list of the lenders we trust and work with. Once you have your pre-approval, we’re ready to start the home search process.

 

Orlando Housing Market Snapshot- August 2018

Decline in Orlando’s sales, inventory help stabilize home-price growth

Prospective homebuyers will be excited to learn that the rocketing rise in prices Orlando has seen over the past years stabilized this summer in the healthy single-digits. For the last three months, the year-over-year median price has increased between 6 and 7 percent.

The deceleration will help maintain a healthy housing market and protect Orlando’s affordability, especially as it compares to other cities around the country where prices are rising beyond the reach of buyers, explains ORRA President Lou Nimkoff:

“In addition, while prices have been rising steadily over the past seven years they have not yet reached pre-recession peak prices. Orlando homes purchased now still have room for normal appreciation, which makes a house a good investment.”

The overall median price of Orlando homes (all types combined) sold July is $235,000, which is 6.8 percent above the July 2017 median price of $220,000 and 1.3 percent below the June 2018 median price of $238,000.

The median price for single-family homes that changed hands in July increased 6.3 percent over July 2017 and is now $255,000.

The first-time homebuyers affordability index increased to 90.28 percent, from 88.80 percent last month.

Sales and Inventory

Members of ORRA participated in 3,383 sales of all home types combined in July, which is 0.1 percent more than the 3,381 sales in July 2017 and 2.3 percent less than the 3,461 sales in June 2018.

Sales of single-family homes (2,653) in July 2018 decreased by 0.2 percent compared to July 2017, while condo sales (398) increased 2.6 percent year over year.

Sales of distressed homes (foreclosures and short sales) reached 121 in July and are 42.1 percent less than the 209 distressed sales in July 2017. Distressed sales made up just 3.6 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in July (7,525) represents a decrease of 16.9 percent when compared to July 2017, and a 0.4 percent decrease compared to last month. There were 15.3 percent fewer single-family homes and 14.8 percent fewer condos.

Current inventory combined with the current pace of sales created a 2.2-month supply of homes in Orlando for July. There was a 2.2-month supply in June 2018 and a 2.7-month supply in July 2017.

The average interest rate paid by Orlando homebuyers in July was 4.59, down from 4.61 percent the month prior.

Buyers

This continues to be a challenging time for buyers in a market where prices are high and options are low. At Waypointe, you have access to properties not listed publicly as well as get properties before they come on the market. Buyers need the assistance of REALTORS® to help them compete against other buyers, for example by crafting attractive offers that take into consideration current appraisal issues and advising on contingencies, in addition to assistance through the many traditional functions that a buyers’ agent performs. Ready to start the homebuying process? We can help! Contact us today.

Sellers

Inventory continues to drop and prices are steady– it’s a great time to sell, while being realistic with the value of your property! However, sellers should be aware that while selling their home is likely to be quick (particularly in the lower price categories) securing a new residence could be a challenge and requires the assistance of a REALTOR®. Those seeking to move up into larger, more expensive homes will have more choices and less competition than those seeking to downsize. If you would like to know the value of your home, we would love to help. Contact us today!

Orlando Housing Market Snapshot- July 2018

Orlando’s meager inventory continues to stifle sales, drive up prices

The inventory of homes available for purchase in the Orlando area displayed its greatest percentage of decrease yet in 2018, contributing to a second consecutive month of slower sales. However, buyer demand is continuing to boost the area’s median price.

The overall median price of Orlando homes (all types combined) sold June is $239,180, which is 6.8 percent above the June 2017 median price of $223,950 and 2.7 percent above the May 2018 median price of $233,000.

The median price for single-family homes that changed hands in June increased 6.8 percent over June 2017 and is now $260,000. The median price for condos increased 13.6 percent to $125,000.

The first-time homebuyers affordability index decreased to 88.37 percent, from 90.31 percent last month.

Sales and Inventory

“Summertime is when we traditionally see sales expand as families seek to secure new homes before the start of the new school year,” explains ORRA President Lou Nimkoff. “Incredibly low supply continues to be the primary impediment to sales in Orlando, but the combination of higher prices and mortgage rates contribute by pinching the budgets of some prospective buyers — particularly first-timers – and thwarting their efforts to buy.”

Sales of single-family homes (2,672) in June 2018 decreased by 11.8 percent compared to June 2017, while condo sales (408) decreased 11.1 percent year over year.

Sales of distressed homes (foreclosures and short sales) reached 132 in June and are 50.2 percent less than the 266 distressed sales in June 2017. Distressed sales made up just 3.8 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in June (7,558) represents a decrease of 17.3 percent when compared to June 2017, and a 1.0 percent increase compared to last month. There were 16.1 percent fewer single-family homes and 22.6 percent fewer condos.

The average interest rate paid by Orlando homebuyers in June was 4.61, down from 4.64 percent the month prior.

Pending sales in June are down 11.6 percent compared to June of last year and are down 9.9 percent compared to last month.

Buyers

This continues to be a challenging time for buyers in a market where prices are high and options are low. At Waypointe, you have access to properties not listed publicly as well as get properties before they come on the market. Buyers need the assistance of REALTORS® to help them compete against other buyers, for example by crafting attractive offers that take into consideration current appraisal issues and advising on contingencies, in addition to assistance through the many traditional functions that a buyers’ agent performs. Ready to start the homebuying process? We can help! Contact us today.

Sellers

Inventory continues to drop and prices are steady– it’s a great time to sell, while being realistic with the value of your property! However, sellers should be aware that while selling their home is likely to be quick (particularly in the lower price categories) securing a new residence could be a challenge and requires the assistance of a REALTOR®. Those seeking to move up into larger, more expensive homes will have more choices and less competition than those seeking to downsize. If you would like to know the value of your home, we would love to help. Contact us today!

Orlando Housing Market Snapshot- June 2018

Orlando home prices rise in May as sales and inventory tumble

The inventory of homes available for purchase in the Orlando area dropped to its lowest point this year in May, dampening sales at the time when buyers traditionally ramp up their efforts to secure and move into a new home in time for the start of school. That demand is continuing to squeeze prices upward.

The overall median price of Orlando homes (all types combined) sold May is $234,000, which is 7.3% above the May 2017 median price of $218,000 and 1.7 percent below the April 2018 median price of $238,000.

Year-over-year increases in median price have been recorded for the past 83 consecutive months; as of April 2018, the overall median price is 102.60 percent higher than it was back in July 2011.

The median price for single-family homes that changed hands in May increased 8.5 percent over May 2017 and is now $255,000. The median price for condos increased 6.1 percent to $125,250.

Sales and Inventory

Members of ORRA participated in 3,407 sales of all home types combined in May, which is 11.4 percent less than the 3,845 sales in May 2017 but 1.1 percent more than the 3,371 sales in April 2018.

“We are experiencing an unusual market filled with buyers who want to buy but sellers who don’t want to sell out of concern that there is no place for them to go,” expains ORRA President Lou Nimkoff, Brio Real Estate Services. “Many would-be sellers aren’t moving because they worry about finding another home to buy in such a tight-inventory environment. In addition, the median length to stay in a home by recent sellers has now swelled to 10 years (historically, it was about six to eight years), which is further reducing inventory turnover.”

Homes of all types saw sales declines in May. Sales of single-family homes (2,657) in May 2018 decreased by 12.4 percent compared to May 2017, while condo sales (410) decreased 3.1 percent year over year but actually increased 12.6 percent compared to last month.

Sales of distressed homes (foreclosures and short sales) reached 120 in May and are 70 percent less than the 282 distressed sales in May 2017. Distressed sales made up just 3.5 percent of all Orlando-area transactions last month.

The overall inventory of homes that were available for purchase in May (7,486) represents a decrease of 14.7 percent when compared to May 2017, and a 3.3 percent decrease compared to last month. There were 10.5 percent fewer single-family homes and 25.4 percent fewer condos.

Current inventory combined with the current pace of sales created a 2.2-month supply of homes in Orlando for May. There was a 2.8-month supply in May 2017 and a 2.3-month supply last month.

The average interest rate paid by Orlando homebuyers in May was 4.64%, up from 4.51% the month prior.

Pending sales in May are down 11.4 percent compared to May of last year and are down 7.4 percent compared to last month.

Buyers

This continues to be a challenging time for buyers in a market where prices are high and options are low. Buyers need the assistance of REALTORS® to help them compete against other buyers, for example by crafting attractive offers that take into consideration current appraisal issues and advising on contingencies, in addition to assistance through the many traditional functions that a buyers’ agent performs. Ready to start the homebuying process? We can help! Contact us today.

Sellers

Inventory continues to lower and prices are up and steady– it’s a great time to sell, while being realistic with the value of your property! However, sellers should be aware that while selling their home is likely to be quick (particularly in the lower price categories) securing a new residence could be a challenge and requires the assistance of a REALTOR®. Those seeking to move up into larger, more expensive homes will have more choices and less competition than those seeking to downsize. If you would like to know the value of your home, we would love to help. Contact us today!