Park Lake Towers Real Estate Market Update
Zip Code 32801 Condo Report
+11%
+15.4%
Avg Sale Price (32801 Condos)
Avg Rental Rate (32801 Condos)
2021 vs 2022
2021 vs 2022
Hi Neighbor, The sudden rise of interest rates and inflation fears have left many wondering whether real estate activity in Downtown Orlando will slow down. So far, the numbers have shown no cause for concern. The average sale price for condominiums has risen 11% when compared to 2021. Will this trend continue? That remains to be seen. Downtown Orlando however, remains a seller’s market for the time being. New residential development in Downtown Orlando continues to rise. Major projects like Modera Creative Village (Open Now), Society Orlando (Opening 2024) the Alexan (Opening 2023) and The Edge (Opening 2024) will bring hundreds of apartments to the area. With rental rates increasing 15.4% over the last year and vacancy rates remaining low, Downtown Orlando remains attractive for multi-family developers. Good news for condominium owners is that due to scarce inventory and no immediate condo projects on the horizon, values are likely to be protected for an extended period of time.
Evan Caulfield
Professional Real Estate Advisor
407.432.9767 Evan@stockworth.com
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