Wondering about buying real estate in Altamonte Springs, Florida? If so, you’re in the right place!
In this article, we’ll be looking at Altamonte Springs’ history, modern-day appeal, and real estate metrics. Keep reading for more info.
Located in Seminole County, Florida, Altamonte Springs is a northern suburb of the Orlando-Kissimmee-Sanford Metropolitan Statistical Area. While this area’s population exceeds 2 million people, Altamonte Springs’ population comes in at around 44,000.
How did this now-booming slice of suburbia get its start? The area now known as Altamonte Springs was first settled by a Dr. Washington Kilmer of Cincinnati. He christened the town Altamont, after the Altamont New York where he grew up as a child.
By 1882 Altamonte Springs had added an ‘e’ onto his name; by 1920 area residents were clamoring for incorporation. The rest, as they say, is history. Today Altamonte Springs is known for its excellent management and progressive ideas. The city has made a concerted effort to remain debt-free.
Residents love the city’s numerous amenities, which include:
- Merrill Park
- Sunshine Park
- A Petrified Forest
- Lake Lotus Nature Park
- Hermits Trail & Turnbull Ave
- Lake Brantley Sports Complex
What about Altamonte Springs’ real estate market, you may ask? It’s equally appealing.
The stats don’t lie: area markets are super competitive. The average Altamonte Springs home receives 6 offers and sells within just 10 days. The average sales price is roughly $270,000 — up 16.3% since 2021. Sales prices per square foot are up even more dramatically.
Need a few more signs that Altamonte Springs’ real estate scene is booming? Here are a few:
- A majority of homes get multiple offers (often with waived contingencies)
- Most homes sell very close to their list price
- Most homes sell within 10 days
- The hottest homes can sell for >3% over list price
- The hottest homes sell within 4 days
Altamonte Springs Real Estate: 8 Things to Know
Altamonte Springs’ status as a premier real estate destination means you should approach buying (or selling) with a hefty dose of intention. Here are 8 key things you should consider before making your first big investment:
- What are the area’s property tax laws?
- Are there lakefront/oceanfront rules and regulations?
- Is the area subject to deed restriction?
- Is homeowner insurance needed?
- What are my financing options?
- Are there any hidden closing costs?
- What is the property’s history?
- What is the seller’s motive?
As you can see, it’s a lot to think about!
Don’t let the details overwhelm you, though. At Team Icon, we have 20+ years of hands-on experience helping buyers just like you attain their real estate goals. That means we know exactly how to streamline your buying experience.
Get in touch with us today if you’re ready to add Altamonte Springs property to your investment portfolio.