This year, The Walt Disney Company purchased 60 acres of land in Lake Nona, for the purpose of re-locating much of Walt Disney Imagineering from California to Florida by 2023. While some employees are leaving the company rather than making the move, others are already searching for their new Florida home.

Orlando Business Journal reports that local realtors are working with Disney employees looking to buy houses in Lake Nona.

“They’re starting to trickle in,” Deanna Armel, CEO of Armel Real Estate Inc., told Orlando Business Journal. “You’ve got them coming in and purchasing.”

Premier Sotheby’s International Realty agent Peter Luu said of a $6.2 million Orlando listing, “My prediction is this buyer will be a Disney transfer because they will have the financials and will want something different. This is likely a high-end executive purchase.”

Previously, Luu had stated that top executives were expected to look for homes two years in advance, while vice presidents would look one year in advance.

As we already reported, this move will disrupt the local housing market significantly, partially due to a low supply of homes amidst a high demand. According to the Orlando Regional Realtor Association, there was less than a month’s supply of homes on the market last month. Those moving from California will also have bigger budgets, given the vast difference in median home price from Los Angeles County to Florida’s Orange County.

Source: Orlando Business Journal