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Cheap Condos Sell Better in Second Quarter

ORLANDO-Unit sales rise 29% over the year, while prices are down 38%, FAR reports.

By Carl Cronan | Updated on August 12, 2009

ORLANDO-Existing condominium sales rose 29% in the second quarter from the same period last year, while prices have declined 38% in that time, the Florida Association of Realtors reports. This marks the third consecutive quarter for increased statewide sales.

In the year-to-year quarterly comparison for condo sales, 14,742 units sold statewide between April and June, compared to 11,459 during those same three months in 2008. Yet over that same time period, the statewide median sales price for existing condos fell to $111,100 from $179,800 a year earlier.

Twelve metropolitan areas showed gains in condo sales through the second quarter, Orlando-based FAR reports. Miami, a national focal point for condo sales, posted a 37% increase over the year with 1,758 units sold, though the median price fell by half over the year to $138,700.

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