In a recent article by M. Anthony Carr, he discussed the present status of the condo market in Florida. He believes this is the year to buy in Florida. “As condo inventory has soared over the last 20 months and about 35,000 units were recently completed or about to be completed this year, according to Florida Trend Magazine. The median price of a condo in Florida stands at about $187,000 according the Florida Association of Realtors, down 9 percent from last year at the same reporting period. Meanwhile, the number of units sold compared to the same time last year is down 29 percent. Nevertheless, investors are moving in to grab good deals while they can in this buyers market. The demand for condos should continue upward as the state brings in more than 300,000 new residents per year, second only to the state of Texas. Keeping in mind that all the bad news for sellers means a land of opportunity for savvy buyers, real estate speculators are counting on softening prices and plenty of seller and builder contributions to sweeten the deals to be had in Florida’s condo market. The economy continues to plug along, albeit at a slower pace, according to the University of Central Florida’s Institute for Economic Competitiveness. All in all, the economy is taking a breather and that means opportunity for buyers.”
I currently have great deals on two Orlando area condos. Neither are in a short sale situation, and they also also not conversions. They are well established condos just minutes from downtown Orlando. You will find information on the one bedroom unit here, or the two bedroom unit here. Please contact Taylor at 407-898-9090 if you have any other questions.
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