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The Orlando housing market saw an improvement in July sales when compared with the previous year, according to the latest report from the Florida Association of Realtors.

Orlando real estate figures

  • Existing single-family home sales in the Orlando area were up 11.6% in July, from 1,484 in July 2007 to 1,656 last month. The median sales price of an existing home fell 19%, from $258,000 in July of last year to $209,100 last month.
  • Condominium resales fell 15.6%, from 179 last July to 151 in July 2008. The median price of an existing condo also dropped to $121,900, a 17.5% decline from July 2007’s $147,700.

Daytona Beach real estate figures

  • Daytona Beach area saw a 3.5% increase in July existing home sales, from 575 in July 2007 to 595 last month. The existing sales price on a Daytona market home fell to $171,100, a 16% decline from last July’s $204,600.
  • Condo resales totaled 103 in the Daytona Beach MSA last month, a 13% improvement from the 91 resales posted in July 2007. The median price of $265,600 for a Daytona Beach area condo showed a 17% decline from July 2007’s $320,600.

Statewide, a total of 11,498 existing single-family homes sold last month, a nearly 1 percent improvement over the 11,492 homes sold in July 2007. Florida’s median sales price for existing homes last month was $193,600, 19 percent less than the $238,900 reported in the same month a year prior.

Condo resales in Florida totaled 3,375, a 7 percent drop when compared with the 3,641 sold in July 2007. The statewide median sales price fell 13 percent, from $194,100 in July 2007 to $168,500 last month.

Source: BizJournal