KISSIMMEE, Fla. â€” CLICK HERE TO WATCH WFTV, Channel 9 News Video
People moving to Kissimmee will probably have to pay more to buy a new home.
In the past year, Kissimmee had the biggest increase in home prices in all of central Florida, rising 32 percent from last year.
The increase in Osceola, Orange, Seminole and Lake counties combined was around 20 percent.
Homebuyer Takara Pate knows she has to act fast if she sees a home she likes.
"We want to buy as soon as possible, because we see the prices rise," Pate said.
Buyers will have to pay more while sellers look to make more.
One of the biggest reasons behind the jump is not enough available homes.
At the height of the housing collapse, Kissimmee had enough homes to sell over three years.
Now, sellers only have a three-month supply.
"The challenge that I face is trying to find the right home, in the right community, at the right price for the right buyer that I'm working with," said Tim Weisheyer of Dreams Builder Realty.
Realtors hope the upward trend in prices is just the beginning of a result from the city pouring $25 million into its waterfront property over the last two years.
Even so, Kissimmee's housing market still isn't on solid ground.
"How long will this jump last?" asked Channel 9's Racquel Asa.
"I think what we are seeing now is a pattern of steady growth," said Carol Platt of Osceola County.
Pate hopes that doesn't limit her chances to find a new home soon.
Just this week, the Wall Street Journal ranked Kissimmee as the third best place to buy a vacation home in the country based on prices and location.
We would love to show you around and help you with your Osceola County Real Estate.Â Â We have been residents of the area for over 20 years and have sold hundreds of homes in Osceola County!Â Contact us today!
Carrie Courtney, Accredited Buyer Representative
Changing Latitudes Real Estate & Property Management
407-922-9767 Â CarrieCLPM@gmail.comÂ Â www.CLREflorida.comÂ
ORLANDO, Fla. â€“ June 24, 2013Â -- Both national employment and home sales improved year-over-year in May 2013. The positive though slow trends in the economy demonstrate progress over the past few years. It comes as no surprise that the Sunshine State has had these same bright developments â€“ which keep occurring month after month.
Florida closed sales improved 18.7% for single family homes and 11.5% for condos and townhomes in May 2013. The Florida Department of Economic Opportunity also released positive economic news. Floridaâ€™s non-seasonally adjusted employment was up 2.4%. The combination of economic growth and investor activity in Florida is driving an increase in sales.
Sales arenâ€™t the only Florida real estate statistic rising. Median price, which rose every month since January 2012, is nearly 16% higher for single-family homes. Improving for the 23rd consecutive month, the townhouse/condo median price increased 13% year-over-year. Months supply is now at 5 months for single-family homes and 5.4 months for condos and townhomes. The low level of inventory is turning Florida from a balanced market into a sellerâ€™s market.
-- Erica Cross, research analyst, Florida Realtor
Wondering how the Kissimmee real estate market is doing? Â CLICK HERE