Valbridge Property Advisors Attends CoStar State of The Market Presentation

September 5, 2023

Valbridge Property Advisors Attends CoStar State of The Market Presentation

Scott Tew, MAI, Kimberly Devitt Brown, APR, Brian Hutchingson, and Will Cole of Valbridge Property Advisors | Orlando recently attended CoStar’s “State of the Market” presentation at Dubsdread in Orlando. Key takeaways included:

Hospitality & Tourism: Orlando leads in RevPAR growth among major Florida markets and shows growth in Occupancy & ADR with demand strongest in urban destinations.

Market Trends: Normalization is underway, growth is forecasted despite recession concerns, and the final planning pipeline is expanding.

Central Florida Insights:

  • Population growth outpaces Florida’s primary metros and the US.
  • Orlando’s employment growth rate aligns with the national average.
  • Increased consumer debt and declining savings rates impact housing affordability.
  • Home values in Florida have risen over 50% since the pandemic started.
  • Central Florida sees an influx from Miami, adding pressure on housing affordability.
  • High mortgage rates expected to persist, but Florida sees swift net migration of high-earning households.

Orlando Office & Retail Scene:

  • Dominance of direct deals in leasing activity observed.
  • Rent growth in the office sector since 2017.
  • The industrial sector leans towards larger logistics buildings.
  • Retail space in high demand with a significant portion built post-2000. Rent growth surpasses the national average.

Real Estate: House prices and mortgage rates rise, affecting affordability. About 40% of Orlando apartments have been established since 2010, with renter demand returning to pre-pandemic levels.

Valbridge Property Advisors is here to keep you updated with the latest real estate market trends in Orlando and Central Florida.

About Valbridge Property Advisors | Orlando | Tampa | Jacksonville

Valbridge Property Advisors | Orlando | Tampa | Jacksonville provides commercial real estate appraisal and consultations for our core markets and beyond. Our MAI and State Certified General Real Estate Appraiser staff value properties across the entire bandwidth of asset types. Do you have questions about your commercial real estate? If so, please consider Valbridge Property Advisors for all of your commercial appraisal, valuation and consulting needs. Learn more about the services we offer here or give us a call toll free at 844-822-7825 and dial extension 1.


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