I still hear people talking about how “bottom” hasn’t hit yet. Sure, the house market may (or may not) drop a few more points but as far as the Orlando condo market goes, there’s no question that bottom was last year. I don’t even want to argue about it any more. In 2011, inventory is low and prices are already on the rise again, albeit modestly.
The median home price on a foreclosed condo, was $59,300 in May 2011, a nearly 19 percent jump from May 2010â€™s $49,900 according to the latest report by the Florida Realtors’ association. See the full release here.
I see about a dozen offers on every foreclosure the bank releases these days, and it’s actually an aggressive seller‘s market in the under $100K, all-cash, investor price bracket – the price bracket that’s seeing the most movement of inventory. Many of these are condo conversions and other MetroWest Orlando homes for sale.
If Orlando condos are your thing, give us a call on 407-290-3408, or shoot an email to Info@CondoMetropolis.com.