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FAR: Condo Sales Up 77% Over Year

ORLANDO-All but one metro area gains in units traded, while prices fall 33% statewide.

By Carl Cronan | Updated on October 26, 2009

ORLANDO-At least 5,000 residential condominium units were sold statewide in September, 77% more than the same month last year and up 9% from August, according to the Florida Association of Realtors. For the same time frame, the median price is one-third lower at $102,500.

All but one of the state’s metropolitan areas showed a gain in condo sales, and a majority of those have posted increased sales for 15 consecutive months. At the same time, however, foreclosures and other distressed properties continue to downwardly distort the median price, the Orlando-based association reports.

Condo sales are a mixed bag from one Florida metro to the next. In Orlando, 587 units traded in September, four times as many as a year ago, yet the local median price fell by half to $52,600.

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