2020 was a rough year for the US economy. The rapid spread of COVID-19 saw massive losses across virtually every sector, as businesses closed their doors and large swathes of the population quarantined themselves to contain the spread of the pandemic.
For Florida and Orlando realtors, the impact of COVID-19 was enormous, with house sales dropping between 19% and 34% in certain sectors of the market.
With the roll-out of vaccinations and early signs of herd immunity, there’s a growing glimmer of hope that 2021 could mark a turning point in the fight against the virus, and that hope is helping to re-ignite real estate sales across the state.
In this guide, we’ll take a closer look at the Orlando and Central Florida real estate market as we move into 2021, and give you some advice for buying and selling a home whilst staying COVID-19 safe.
Let’s dive right in:
Before the pandemic, Orlando homes (and Central Florida in general) were seeing a year-on-year price growth of around 10%, with the state of Florida as a whole ranking highly on the house price index.
During the last quarter of 2020, signs were beginning to show that the market was rapidly bouncing back from COVID-19, with pandemic-panic subsiding and the public slowly getting used to the “New Normal”.
Before the pandemic, homebuyers needed to balance perfect locations with the practicalities of the office commute. With many professionals now working from home on a permanent basis, it’s looking increasingly likely that quality of life and great weather will become higher priorities in 2021, making pool homes in Orlando and Central Florida even more desirable.
As 2021 progresses, there’s a good chance that new construction homes in Central Florida will also see a surge in interest, as younger professionals begin to move back to the cities, drawn to development projects featuring high-end amenities, high-tech infrastructure and green recreational spaces.
Whilst the tourism industry took an even bigger hit than real estate in 2020, there are signs that a recovery is on the cards here as well.
Once the public becomes more comfortable using sites like Airbnb again, the sunny climate will see renewed interest in vacation pool homes in Orlando, from both investors and second home owners alike.
Staying safe should always be your number one priority. With that being said, buying or selling a home needn’t be something that causes undue stress, or puts you or your family in danger.
Here are a few things to keep in mind:
If you’re a buyer from out of state, or a homeowner concerned at the prospect of multiple strangers wandering around your property, you need to find a realtor that offers virtual tours.
A virtual tour can take many forms, but with many of us now accustomed to using platforms like WhatsApp and Zoom on a daily basis, remote viewing a property should be a straightforward and enjoyable experience that can save huge amounts of time for buyers and sellers alike.
For prospective distance-buyers in particular, a virtual tour is a fantastic way to get a feel for the layout and ambiance of a property, without having to travel hours out of state for physical viewing.
As we move into 2021, most businesses should be fully up to speed with the measures they need to put in place to maintain client safety. If you’re at all worried about your wellbeing during the buying or selling process, make sure that the following precautions are in place:
- Upon arrival at a property, the realtor should remind clients to avoid touching any surfaces or door handles unless they’re wearing a fresh set of disposable gloves.
- If that’s unavoidable, the realtor should use antibacterial spray or gel to disinfect any surfaces upon leaving.
- Masks should be worn by any individual entering a property, in order to prevent the spread of the virus from coughing or sneezing.
- Viewings shouldn’t involve large groups of people, and it’s best practice to observe social distancing.
- If you’re at all apprehensive about COVID-19 transmission, you may feel more comfortable if the property has adequate airflow. Don’t feel bad about requesting windows or doors to open ahead of time.
So there you have it: Some insights into the Orlando and Central Florida real estate market, and a few reasons to be extremely optimistic as we head into 2021.
If you’re considering buying or selling a property in Orlando or Central Florida, please don’t hesitate to get in touch!
We're here every step of the way to answer your questions and help you achieve the most profitable (and safe!) outcome possible…
Article Written by
The Giff Group
407 791 4713
Preferred Real Estate Brokers