Baldwin Park emerging as hot area in Orlando
The Baldwin Park planned community in Orlando, Florida, has rebounded from a foreclosure-plagued recent history to emerge as one of the hottest markets for real estate in Orlando, according to the Orlando Sentinel.
As recently as five years ago, the development in northeast Orlando was littered with foreclosures, putting a damper on the real estate market in the area. While the number of overall foreclosures in Orlando continued to rise for the 7th consecutive month, according to Loan Safe, Baldwin Park appears to be headed in a different direction.
According to data provided by local real estate experts, the typical house sold in Baldwin Park in June was under contract within three weeks of being listed. This rate was almost two weeks faster than the average house sold that month in the rest of the Orlando market.
The demand for houses in the planned community has skyrocketed so much in recent months that local agents have more buyers than they do sellers. Rapidly ascending demand, coupled with a diminishing and limited supply, could result in home prices in Baldwin Park rising over the next few months.