Sales activity for Orlando’s existing homes rose in August, even as condo sales plunged, according to the latest housing data released Wednesday by Florida Realtors. The median sale prices for homes were unchanged from a year ago, while median sale prices for condominimums increased in August.
Existing home sales increased by 6 percent last month with a total of 2,418 homes sold in Orlando compared to 2,289 homes sold in August 2010, according to Florida Realtors. The median sale price for homes last month was $127,800, virtually unchanged from the year-ago figure of $128,000.
Condominium sales dropped by a whopping 39 percent in August, with 520 sold in Orlando compared to 859 a year ago. The median sale price for existing condos was $59,000, an increase of 20 percent from the year-ago figure of $49,300.
Statewide, sales activity and median prices for existing home and existing condos rose in August, from one year ago. Existing home sales increased 15 percent last month, with a total of 16,206 homes sold. For condos, 7,098 were sold, an increase of 17 percent compared to the year-ago figure of 6,041.
Meanwhile, median sales prices for homes rose 2 percent to $137,500 compared to $134,900, one year ago. The median sale prices for condominiums also increased by 12 percent to $91,000, up from $81,500 in August 2010.
“Over the past few months, it appears that home prices have been stabilizing in many local markets across the state,” said 2011 Florida Realtors President Patricia Fitzgerald,
Fifteen of Florida’s 19 metropolitan statistical areas (MSAs) reported higher existing home sales in August; 15 MSAs also had higher existing condo sales.
