ORLANDO, FLORIDA – Orange County Property Appraiser Rick Singh held the 2015 State of Orange County Real Estate at the Wyndham Orlando Resort announced the market value reaches $137.5 billion, a 9.5 increase over last year.
Last night panel discussion with some of the biggest leaders in the real estate, financing, and development industries in Central Florida caution industry professionals about the recent boom. Everyone needs to remember what we went through, said David Siegel, CEO of Westgate Resorts, a panelists. The time-share industry helped Orlando tourist industry stay afloat during the foreclosure crisis.
Singh shared new statistics highlighting values reported in 2014 that have a positive impact on the region’s economy:
- 79 percent more homes were built in 2014 vs. 2013
- New construction was up 45 percent last year when compared with 2013
- The average home sales price was $252,000 in 2014, up from $228,000 the year prior