Coldwell Banker recently did a survey to compare the prices of homes in Florida to the prices elsewhere, and it turns out, we’re not so bad.
The most affordable homes in Florida are located in Ormond Beach at $201,233, while the most expensive homes can be found in Key West, where an average price is $818,239.
The study was part of a comparison index which looks at the cost of a 2,200-square foot, four-bedroom, two-and-a-half bath home in 315 markets across the United States as well as Puerto Rico and Canada. They looked at these values, and the effects they may have with this years election, so if you’re wondering, Florida has an average price overall of $357,596, behind Colorado ($402,497), New Hampshire ($401,697) and New Mexico ($478,343) among so-called swing states that could help decide the upcoming presidential election.
So does that mean Orlando’s real estate market has improved? Nope. Just means we’re not the most expensive. I will say that the news of the government bailing out Fannie Mae and Freddie Mac should have a nice impact on our market, but probably not one you’ll see until our inventory is reduced.