Orlando Condo Sales Through The Roof

Orlando had nearly four times more condo sales in August compared to a year ago, from 142 unit sales in 2008 to 541 this year.

Of course, the median condo sales price in metro Orlando fell 55 percent, from $111,200 in August 2008 to $49,900 in 2009.

Florida wide, condo sales were up 45 percent, from 3,222 unit sales in August 2008 to 4,674 this year. The median price of a Florida condo was $107,500 last month, a 32 percent drop from August 2008’s $158,100.

Bank continue to be the providers of most of the Orlando condo action, with most of these foreclosure sales taking place in the under $60K bracket. And 9 out of 10 sales in this bracket are all-cash deals. Outside of the condo conversion suburbs like MetroWest, sales are a little slower but downtown Orlando condos are still selling with some regularity and prices on the high end units are in general less depressed than many buyers would like.

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