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The midpoint for Orlando condominium prices last month remained below $50,000 and was 40 percent below the statewide median price, according to a report released Monday by Florida Realtors.
Condo prices in Central Florida have been depressed for more than a year, with the metro area's median price in September down 5 percent to $49,900 compared with a year earlier. Across the state, the median condominium price in September was $83,400, down 18 percent from a year ago.
Among Florida metropolitan areas, only Lakeland had condos cheaper than Orlando's last month, with a median price of $40,000.
Nationwide, the median resale price for a condo was $174,000 in August, according to the National Association of Realtors.
The continued affordability of condos, which these days are primarily all-cash deals, have boosted sales in Metro Orlando and across the state. September closings were up 23 percent in Orlando from a year ago, to 720 units, and 10 percent statewide.
For single-family homes, resales prices were down 11 percent last month in the four-county metro area compared with September 2009 but down only 6 percent during that time for the state as a whole. The median price of last month's existing-home sales was $128,400 in Orlando and $133,400 for the entire state.
Info provided by http://www.orlandosentinel.com/business/os-florida-home-sales-sept.-20101025,0,4547303.story
Blooming for home buyers.
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