The continuing price declines for existing-home sales in Metro Orlando are similar to declines elsewhere in the state, according to a monthly report released Wednesday by the Florida Association of Realtors. Prices in the four-county metro area fell by 34 percent in April from a year earlier, compared with a statewide decrease of 31 percent. Not only did local resale prices continue their year-long decline, dropping to $141,800 in April from $215,700 a year earlier, they also slid further from March, when the median price was $151,500. Those historically low prices helped drive the area's continuing uptick in sales, with a 38 percent increase last month compared with April 2008.
The Orlando-area condominium market continued to be one of the hardest hit in the state this spring, with resale prices down 56 percent from April 2008, compared with a statewide price decline of 40 percent. The median condo price in Metro Orlando was $52,700 last month -- less than half the statewide median of $106,900. In comparison, a year ago, condo prices in the Orlando area were $120,800, or about two-thirds the statewide average at the time. complete story
Source: OrlandoSentinel.com - Mary Shanklin
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