Apopka Real Estate
The real estate market and economy in Apopka, Florida is fairly stable, judging by the number of new jobs and new construction in the area. The city consists of 38,202 residents and the annual median household income is $43,651.
There is a nice mix of blue-collar and white-collar people in the neighborhood. Professionals, managers, sales and office workers and administrative support people all live in the area. In fact, 22% of the people in Apopka have bachelor’s degrees.
The city is relatively quiet and the neighborhoods are not overly populated. Most residents state that the place is relatively peaceful place to live. However, the communities are not very walkable. Most communities do have sidewalks. However, most people commute an average of 30 minutes to work daily. A car is necessary, because there is no public transportation available.
Since both wealthy and poor people reside in Apopka, Florida, you will find a mix of real estate for sale. Affordable three and four bedroom homes starting in the low $100,000s and homes that exceed $2 million are available. Over 70% of the homes in Apopka are single family detached homes.
Over 80% of the homes in Apopka are between $69,000 and $276,000 in price. The median home price is $160,338. Nearly 55% of the homes are three bedroom homes. The homes are affordable for most families.
What are the Average Sales of Apopka Florida?
Currently, the average sales prices of the homes appear to be hovering around the $122,000, according to Trulia. This amount represents a decline in price of 7.4% from last year’s average sales. This equates to $9,800 in cost. Sales prices in Apopka have depreciated in the last five years. This is good news for investors and first time home buyers, but bad news for current home owners that have lost equity in their homes.
The majority of the recently sold homes have been $100,000 or less. An isolated incidence of an $8.3 million home also sold in the Apopka area. The average median price of homes for sale, according to Trulia, was $190,548. This information was gathered in August. Experts are concerned that homes in the area are on a downward trend after the prices slipped another 2.5%. However, the average price per square foot has increased 135.3% from last year.
What Are the Vacancy Rates in Apopka Florida?
The vacancy rates vary largely based on the neighborhood. For instance, the Zellwood and Tangerine neighborhood has a vacancy rate of 11.4%, according to Neighborhood Scout. This rate is 65.5% higher than most of the neighborhoods in the United States. This could indicate that there is low demand in the neighborhood or that the housing seasonally occupied.
By contrast, the Balmy Beach Drive and Holliday Avenue area has a current vacancy rate of 2.9%. This rate is lower than 90.6% of all neighborhoods in the United States. Therefore, near this area, the housing supply is minimal and in high demand.
Other areas such as City Center have average vacancy rates of 5%. This rate is 73.7% lower than all neighborhoods in the United States. Yet again, if you search South Apopka, you will find high vacancy rates of 12.1%, which is 68% higher than other United States neighborhoods.
The vacancy rates near Rock Springs Road and Kelly Park Road are 7.4%. This rate is lower than 55.5% of the neighborhoods in the United States. While the vacancy rates in Paradise Heights is 16.2%, which is 80.3% higher than other neighborhoods in the United States.
Lockhart also has a relatively low vacancy rate of 6%. This rate is 65.6% lower than most neighborhoods in the United States. If you are considering a home near Wekiwa Springs Road or Semoran Blvd. you can expect a vacancy rate of 4.1%, which is lower than 80.7% of all the neighborhoods in the United States.
What are the Best Neighborhoods?
Balmy Beach/Holliday Drive – The average real estate prices in Balmy Beach are $185,086. Compared to other neighborhoods in the area this price is 68.7% more expensive than other homes in Florida neighborhoods and 56.6% higher than other home in the United States. The neighborhood has numerous wealthy people.
Overall, the neighborhood is fairly stable. According to Neighborhood Scout, it is 97.2% more family friendly than any other neighborhood in Florida. The vacancy rates are some of the lowest in Apopka and in fact, the United States. Most of the homes are owner-occupied and residential.
The neighborhood has a low crime rate. Apopka, as a whole, has a higher crime rate than most of the United States. The public schools in the area are ranked fairly well compared to the national average. Over 37% of the residents of this area work in executive, management or professional occupations.
Wekiwa Springs/Semoran Blvd. – The average home price near Wekiwa Springs Road and Semoran Blvd. is $218.874. This price is more expensive than 77% of the neighborhoods in Florida and 64.9% more expensive than other neighborhoods in the United States. The vacancy rates are relatively low in this area.
Homes near Wekiwa Springs and Semoran Blvd. are primarily three or four bedroom homes. However, there are numerous four, five and more bedroom single family homes available. Most residential real estate in the area is owner occupied. Most of the homes near the area were built between 1970 and 1994. Some homes were also built after 1995.
The neighbors near Wekiwa Springs are wealthy. In fact, this neighborhood is among the 15% of highest income neighborhoods in the United States. The neighborhood is also more family friendly than 97.8% of the neighborhoods in the United States. They focus on the community in this area. People that are highly educated executives, college students or sophisticated urbanites will fit in well in this community.
Read more about some of the best Apopka neighborhoods….
Lockhart is located in the suburbs of Orlando, Florida. The median real estate prices are $168,192, which is 62.2% more expensive than other neighborhoods in Florida and 51.3% more expensive that other neighborhoods in the United States. Most of the neighbors of Lockhart are upper-middle income. This neighborhood has a higher income than 70.8% of the neighborhoods in the United States.
The real estate in Lockhart primarily consists of three and four bedrooms single family homes. However, some homes have five or more bedrooms. Most of the homes were built between 1970 and 1994. Some residences, however, were built between 1940 and 1969.
In Lockhart, the residents are primarily employed in executive, management and professional occupations. In fact, 26% of the residents are working in these types of positions. Another 25% of the residents are employed in clerical, tech support and assistant positions.
What Types of Homes are Selling?
Since Apopka, Florida has more single family detached homes for sale than any other type, these homes are selling the fastest. The homes that are selling the fastest are those homes $122,000 or less in price. Many of the homes for sale are four bedroom homes of various price ranges. Some of the four bedroom homes are as low as $130,000, and others are around $279,000. Some three bedroom homes are also selling as well.
Since many of the homes in the best neighborhoods are owner-occupied, this would mean that most people purchasing in this area are not investors. Though some of the properties may be purchased for investment and rented out to people that are visiting the area for tourism.
Most homes are selling below market value by as much as 10%. However, some homes are in high demand areas and have sold 10% over the market value of homes listed in the area. A good deal can be obtained with proper research.