Kissimmee FL Real Estate Market Report January 2021With its proximity to Orlando attractions such as Walt Disney World Resorts and Universal Orlando Resorts, Kissimmee has always been a favorite vacation destination. But in recent years we are seeing a marked uptick in the residential housing market in the area. For anyone currently living, or thinking about moving to Kissimmee, it's important to know what the real estate market is doing and where it is trending moving forward.

Kissimmee FL Estate Market Trends For January 2021

While there are a wide range of housing options within the city of Kissimmee, an average home features two bedrooms, two bathrooms, and measures roughly 1,300 square feet.

With an average sales price of $252,000, homes for sale in Kissimmee are gaining value of roughly 7% year over year. This level of appreciation is higher than the national average of 4% per year, which means that Kissimmee is an area on the rise, both in popularity and home values. Whenever an area is seeing high levels of price increases, it suggests the market is becoming a more sought after area with lots of interest from potential buyers. This is great for current homeowners who are enjoying increased equity in their home, but can make the buying process more difficult for first-time home buyers looking to move to the area.

This trend is supported by the average days on the market of homes for sale dropping by almost 17% to an average of 30 days. With more buyers in the market, homes are selling more quickly and in many cases receiving multiple offers, some above list price. 15% of homes are selling above list price, a 16% increase from last year, and the average home is selling at 98% of original asking price. What is most impressive is the number of homes resorting to price reductions has dropped 17% to a very low number of just 10%.

The consistency with which home values have been increasing over the last three years show no signs of the market slowing down any time soon. While the price and appreciation numbers may dip slightly in the coming months, they are likely to remain well above the national average due to high demand in the area.

Kissimmee FL Distressed Property Report

According to RealtyTrac, foreclosure rates in Kissimmee have been on a slight rise recently, but are in line with the surrounding areas. Factors noted for this increase are closely linked to the COVID-19 pandemic and distressed property numbers are in line with expert projections. While these numbers are not at a concerning level for the Kissimmee real estate market as a whole, this is an important statistical category to keep an eye on when evaluating the area. 

Kissimmee FL Crime Statistics

Crime rates in Kissimmee are consistent with that of the rest of the nation and are slightly lower than the Florida state average when adjusted for population. These numbers have been on the decline recently, indicating an area that is becoming safer with time and more inviting to new residents. A diminishing crime rate is indicative of a developing area that will likely see continued increases in demand and property values. 

More About Kissimmee FL 

Kissimmee is the largest city in Osceola County, Florida with a population of 60,000. While the city is in such close proximity to Orlando, roughly a 30 minute drive, Kissimmee has a much different feel than its more famous neighbor. With no highrise buildings or theme parks, Kissimmee has a more small town feel, where you can find small businesses and restaurants dominating the commercial landscape. 

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