Owing to its close proximity to a multitude of amusements parks, including the Walt Disney World Resort and some of the most striking beaches within an hour’s distance, Kissimmee offers a thrilling investment opportunity for those looking at houses for sale around family oriented destinations.
With a median sales price ranging $215,000-$279,999, serious buyers can peruse through a variety of homes for sale in Kissimmee, including condos, foreclosures, and bank-owned properties to choose their future investment.
Kissimmee Real Estate Market Trends for March 2019
Florida’s real estate market has experienced a 6% year-over-year increase making it one of the securest states for a real estate investment opportunity. 20.81% of Kissimmee’s real estate market is currently vacant, with 947 properties for sale, and1,115 in some stage of a foreclosure available on the site.
Median sales price for homes have seen an increase since last year in Kissimmee, with a 2% year-over-year increase, up $5,000 from January of last year, with the median list price at $234,000. Meanwhile, home values for sale are up 11.7% since last year, and this trend is likely to continue in the incoming months, with the forecasted increase for the year estimated at 5.5%.
Although the average price per square-foot and the rent in Kissimmee is lower than that of the Orlando-Kissimmee-Sanford Metro, its home values have benefited from Orlando’s real estate market’s 6% increase. Currently, prices per square-foot in Kissimmee average at about $122, a noticeable leap since last year, while rent prices remain at $1500 since January of this year.
Properties in the 1600 to 1800 square-foot range, as well as properties of 3 to 4 bedrooms currently hold the highest availability at Kissimmee.
Kissimmee Distressed Property Report
Since last year the percentage of vacant homes has reached 20.81%, with 85% of properties filing for foreclosure. This provides a wider range of inventory for sale for potential new buyers to choose from.
Bank-owned properties in the $100,000 to $200,000 range have seen a spike in availability compared to other price ranges; and those of sizes 1200-1399, 1400-1599, and 1600-1799 square-feet share the highest number of vacancies.
Kissimmee Crime Statistics
Kissimmee is a relatively safer choice for residence, as the crime score is around 15.82% lower than the national average. Much to the delight of local residents - property crime rates including, robbery and burglary have also seen a trend of gradual decline in the last 5 years.
A majority of the reported crimes have occurred around central Kissimmee, with bordering areas reporting little to no crime. Currently, the property crime rate has reduced to 29.60% per 1000 residents, and Kissimmee’s crime index rating is a B-.
The volume of overall reported incidents has generally decreased over the last few years, with a sizable dip observed in reports since last year.
Kissimmee in the news
The Orlando-Kissimmee-Sanford (MSA) area has experienced a 50% surge in population in the last 15 years; maintaining the unemployment rate at 3.3%, with Kissimmee maintaining it at 3.8%. However, with Orlando’s real estate ranking high in the list for the Top 10 best cities for first-time home buyers, and the completion of the 61.5-mile southern commuter rail transit expansion project SunRails, a lot more foot traffic is expected in the area.
With all this economic growth, countless businesses will receive the opportunity to improve their bottom lines, and that of the overall economy. Additionally, the median price of estate is rising and is expected to keep rising in the upcoming year. This upward moving trend in prices has cooled off the burnout phase seen in previous years, making this a favorable time for investment.
The expected population and job market growth adds plenty of charm and faith back into Kissimmee, making it a viable option for investors.