(Source: Orlando Sentinel)
Condo prices have fallen more in Orlando during the past year than in any other metro area in the state and, most likely, the country, according to state and national Realtor reports.
The median price for an existing unit in Orlando was $50,600 in the third quarter — a 56 percent drop from the same time a year ago, when the midpoint sales price was $114,000. Statewide, condo prices fell 34 percent during that time.
Nationally, the only city that comes even close to Orlando’s dropping prices is Las Vegas, which had a 46 percent decline in median prices for condominiums during that same period.
Read Mary Shanklin’s full article “Prices plummet, making Orlando condo market worst in U.S.” in the Orlando Sentinel (November 25, 2009).