Existing home sales in Orlando rose marginally and condo sales plunged in the third quarter of 2011, compared to the same period a year earlier, according to the latest housing statistics released from Florida Realtors Wednesday.
Existing home sale rose 1 percent in 3Q 2011 with a total of 6,846 homes sold in Orlando. During the same period the year before, a total of 6,750 homes changed hands according to Florida Realtors. In Orlando sales of existing condos in the third quarter plummeted 36 percent compared to the year-ago sales figure.
Orlando’s median sales price on existing homes also dropped by 2 percent to $127,800 in the third quarter. In 3Q 2010, it was $130,300.
In the year-to-year quarterly comparison for existing condo sales 1,486 units sold in Orlando in the third quarter compared to 2,333 units in 3Q 2010 for a 36 percent decrease. The Orlando existing-condo median sales price was $59,000 in the third quarter; a year earlier, it was $49,900 for an 18 percent increase.
Statewide, existing home and existing condo sales showed gains in the third quarter and rose by 12 percent and 13 percent respectively. Florida’s median sales price of existing homes remained flat in 3Q, while existing condo sales prices rose by 7 percent compared to a year earlier.
