Orlando real estate is booming.
Orlando is a hotbed for homebuyers and investors.
The city is a popular destination for business and entertainment.
But what about real estate?
Is it real?
Orlando realty experts say yes, according to a survey released by the National Association of Realtors.
And they say the answer isn’t as clear as it might seem.
Real estate experts say there are a number of factors that go into determining whether an individual property is real or not.
They include what is considered “real” property in the state of Florida, the character of the property and whether the property has been converted into condominiums.
The survey was released Wednesday.
It was conducted by the Association of National Realtor Associations, an independent group that includes real estate agents and real estate brokers.
Its findings are based on information from a survey conducted last fall by real estate company Cushman & Wolf.
The poll asked 1,200 adults nationwide about their knowledge about real property.
The survey was done online and it had a margin of error of plus or minus 3 percentage points.
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Orlando realty was a big seller in the summer, and the national real estate market has been recovering.
But that may not be the case for the future.
“Realty is still the big thing in Orlando, but it’s definitely in a slow recovery,” said Michael Fassetti, who oversees real estate at Realty Central, a Florida real estate brokerage.
“I don’t know that the number of new homes and apartments are necessarily going to be higher than they were,” he said.
Fassetti added that the city has a long way to go before it becomes as popular as it once was.
“Orlando is a great place to live, but the city is still pretty small compared to many other cities,” he explained.
Facing more competition from other U.S. cities, Fassettis said he believes the city could experience some growth in real estate sales in the next couple of years.
That could include condominium sales, which are a popular segment of the market.
“If Orlando does start to see a lot more new condo sales, that would likely be the next logical step,” he added.
“Orlando has a lot of potential to see some new condo construction in the coming years.”
For more local real estate information, visit our Orlando Real Estate page.
