Orlando's average home values surpass pre-housing bust high


  • Photo via Adobe Stock
If you keep saying "it's not a bubble" to yourself, eventually it has to be true, right?

In a sign that's either troubling or amazing depending on how much property you currently own and your long-term memory, the average value of a house in Orlando just passed its previous high set in 2006.

According to the Zillow Home Value Index shared in their recent market report, the average home in the Orlando area was worth $285,049 last month. That's nearly $2,000 more than the previous high-water mark of $283,188, set in October of 2006. If you were lucky enough not to live through the aftermath of that boom time, Zillow's chart of home values is a good crash course in what happened next.


Home values tanked as the sub-prime mortgage lending crisis came to a head. The seeming magic with which banks were able to generate money for home loans turned out to be just as fake as a handkerchief trick and Orlando's housing market cratered.

To the credit of this particularly overheated housing market, it's not anywhere near as frantic as the years leading up to the market crash. As you can see in the chart above, the rise in housing prices has been much more gradual over a period of years (even if the lack of any substantial rise in area wages has made it feel more cataclysmic on the ground).

Surprisingly, given the rapid turnover of Orlando real estate and the seeming shortage of available housing stock, Orlando had one of the lowest rates of homes selling above asking price in the country. Only 13% of homes sold for more than the seller was seeking over the last year.

Stay on top of Central Florida news and views with our weekly newsletters, and consider supporting this free publication. Our small but mighty team is working tirelessly to bring you Central Florida news, and every little bit helps.

We welcome readers to submit letters regarding articles and content in Orlando Weekly. Letters should be a minimum of 150 words, refer to content that has appeared on Orlando Weekly, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at feedback@orlandoweekly.com.

Support Local Journalism.
Join the Orlando Weekly Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state. Our readers helped us continue this coverage in 2020, and we are so grateful for the support.

Help us keep this coverage going in 2021. Whether it's a one-time acknowledgement of this article or an ongoing membership pledge, your support goes to local-based reporting from our small but mighty team.

Join the Orlando Weekly Press Club for as little as $5 a month.