Condo Sales Rebound

Orlando condo sales are back with condo buyers coming from every corner of the globe to snap up a piece of Orlando real estate.

 The following graph says it all.

The median price for a unit in Orlando during June 2010 was $52,800, down 3 % from 2009, according to the recently released industry report. Prices were up from $49,900 in May.

The median price for condos across Florida state was $95,000, down 16 % from June 2009.

With 889 units sold during June, Orlando condo sales remained among the strongest of any metropolitan area within the state of Florida. The pace of condo purchases in Orlando was 68 percent greater than it was a year ago.

Of course, most of these are Orlando condo foreclsosures, but that’s great news for condo associations whose coffers have been decidedly thin of late.

Remember, in this price bracket we are now in a very firm seller’s market. Surprised? It may seem odd when other sectors of the real estate market are slow, but with about a dozen buyers for each piece of condo inventory that remains, it’s not as easy as it once was to pick up a bargain.

For more info on how to acquire an Orlando condo foreclosure, contact Condo Metropolis: 407-290-3408 or email Info@CondoMetropolis.com

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