Condos, Townhomes, Duplexes & Villas: Aug 2008

The sales of condos in the Orlando area decreased by 31.33 percent in August: A total of 114 condos changed hands in August 2008 compared to 166 in August 2007. In a month-to-month comparison, August 2008 condo sales (114) decreased by 14.93 percent from July 2008 (134). Year to date, condo sales are down 43.71 percent, with 939 condos sold so far in 2008 compared to 1,668 sold through the same time in 2007.

In August, the most (20) condos that changed hands were in the $100,000 – $120,000 price category, while an additional 14 sold condos fell in the $140,000 – $160,000 range. The former price category has seen the most condo-sales activity for the last five months.

Orlando home buyers purchased 95 duplexes, town homes, and villas in August 2008, which is a 29.10 percent decrease from August 2007 when 134 of these alternative housing types were purchased. Year-to-date, duplex, town home, and villa sales are down 19.36 percent. The majority (23) of duplexes, town homes, and villas sold in August 2008 fell into the $160,000 – $180,000 price category, while another 15 sold for between $200,000 and $250,000.

For single family home stats see the Orlando Real Estate Pros blog.

1 Comment

  1. First off, let me say that I really appreciate the blog updates. Though I do not comment often, I am a pretty darn faithful reader and have garnered much information from it.

    Now, on to business…..I say those numbers you noted would actually be up dramatically (and perhaps a good deal of the current economic drama averted?) if banks would dedicate any resources at all to managing their REO portfolios.

    Every Realtor I have spoken with over the past three months has the same story to tell…..they have buyers…these buyers have found properties they like…offers have been made….and WEEKS go by without a peep from the lender who has taken possession of the property…no counteroffer, nothing. So many deals have never materialized because of this disconnect…

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