Published February 15, 2024
February Newsletter
February Newsletter
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LOCAL EVENTS
Strawberry Festival
February 17-25, 2024 | 10:00 AM - 5:00 PM | Amber Brooke Farms
Strawberry Season is in full swing, and there's no better place to celebrate the strawberry season than Amber Brooke Farms. With U-Pick Fields, Live Music, pie-eating contests, & more, it's a family celebration you don't wanna miss.
Kids Night at the Museum
February 24, 2024 | 5:30 PM - 10:00 PM | Orlando Science Center
Youth ages 5 to 12 years old are invited to explore exhibits, experience enhanced programming, and enjoy a pizza dinner in age-appropriate groups. They will also participate in hands-on activities, and see an interactive Live Science Show or film. Caregivers can enjoy a stress and child-free evening on the town while children have an entertaining experience of their own exploring the wonders of everything the Science Center has to offer.
Annual Winter Park St. Patrick’s Day Parade
March 5, 2024 | 2:00 PM | Downtown Winter Park
Gather your family and friends and wear some green to enjoy the only St. Patrick’s Day Parade in central Florida. The parade will begin at Swoope Avenue and proceed south down Park Avenue to Lyman Avenue with Meredith McDonough of WESH 2 News serving as this year’s Grand Marshal. After the parade, the celebration will continue with Irish music and step-dancers on the Central Park Main Stage. This is one event you don’t want to miss!
WHAT'S NEW?
New Listing | 5253 Goldenwood Drive
Introducing your next home, perfectly located on a picturesque tree-lined street in East Orlando. Step inside to discover a thoughtfully designed split bedroom plan, offering both privacy and spaciousness. Residents of Sheffield Forest enjoy a close proximity to UCF, downtown Orlando, great shopping and dining and the expressways. Schedule your showing today!
(407) 234-5074 | lisa@teamsbk.com
Just Closed | Team SBK
Welcome to the neighborhood Kyle! Thank you for trusting us with your real estate adventures, we wish you the best. Welcome to the Team SBK Family!
The Purcell Team | Housing Outlook for 2024
In 2023, home appreciation nationwide was 7% and we are forecasting 4.5-5.0% appreciation nationwide in 2024. The Central Florida market could see even stronger home appreciation. Cumulative appreciation in Central Florida over the next 5 years is projected to be 25%.
We will also see 15 to 20% more transactions and should see an increase in inventory. As rates continue to decrease, sellers will list their homes creating more inventory. Although we will see more inventory, we do believe that inventory will still be a challenge. This will be due to an influx of buyers and sellers that have been sitting on the sidelines waiting for rates to drop. There are simply not enough homes to meet the demand, which is the main reason home values will remain strong and continue appreciating.
Interest rates hit a 23-year high at the end of October, topping out at 8%, but have improved dramatically in the last 2 months. Rates are approaching 6.5% and should continue to trend lower.
The Federal Reserve stated they will cut short term interest rates before inflation reaches their inflation target of 2% and the markets are predicting the first Fed rate cut will be March 20th with additional rate cuts to follow. This is all positive news for the economy, housing, and the interest rate environment
ORLANDO STATE OF THE MARKET | JANUARY 2024
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