Orlando Home Sales Continue to Decline

Posted by Jeffrey G. Funk P.A. on Thursday, August 30th, 2007 at 9:50pm.

Homes prices in the Orlando area are continuing to be lowered. During the second quarter, Orlando experienced a forty percent drop in sales on single-family homes. The number of home sales dropped from 8,189 last year to 4,933 for the same time period this year. The average sale price has also dropped from $265,500 in the second quarter of 2006 to $253,800 for the same time this year.

Condo sales for Orlando have also dropped by sixty-one percent. During the second quarter of 2006 the figure was 1,456, compared to 572 for the same period of time this year. Average sale prices for these condos have also dropped from $163,500 in the second quarter of 2006 to $155,700 this year.

The entire state has experienced a decrease in single-family homes. During the second quarter of 2006 sales totaled 53,723. That number was down this year to 37,709. For existing homes the average sale price has also fallen from $250,400 in the second quarter of 2006 to $239,200 this year.

Condo sales in the State of Florida have also suffered with a twenty-five percent decline. This number went from 16,566 in the second quarter of 2006 to 12,415 for the same time this year. The average sale price of a condo has changed very little although that too has decreased. This figure dropped slightly from $211,200 in the second quarter of 2006 to $208,400 this year.

Jeffrey G. Funk, P.A.
Realty Executives Central Florida
7932 West Sand Lake Road • Suite 302
Orlando, FL 32819
Office: 407-438-4028
Fax: 407-536-4328
Email: jeff@realtyinorlando.com

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