Orlando Real Estate Condo resales up, prices down in July

Orlando-area existing condominiums sold like hotcakes in July at still-falling prices, according to a new report from the Florida Association of Realtors.

Association members brokered 475 condo resales in the Orlando metropolitan statistical area last month, more than triple the 151 unit resales recorded in July 2008. But the median sales price fell to $49,800, 59 percent down from the $121,900 price reported in July 2008.

A total of 2,343 single-family homes sold in July in the Orlando area, a 41 percent increase from the 1,656 sales posted the same month a year prior. Median home values fell 29 percent, from $209,100 in July 2008 to $148,400 in July 2009. complete story

Source: BizJournals.com