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Money Saving Tips :: Condo Sales Florida
Condo Sales Florida: Condo Prices and Sales Trends in Florida
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If you're looking for area-specific information on condo sales, Florida sales trends and possible investment sites, keep reading for an overview of the hottest cities in Florida right now.
Fort Myers Area
With an estimated population of over 65,000 and growing at a phenomenal 25 percent, Fort Myers is one of the fastest growing cities in Florida. The median condo value for the area was just over $150,000 in 2005, but has since risen to about $200,000 and though that figure has fallen slightly after the downturn in the Florida housing market, the Fort Myers area has exhibited significant value retention when compared to other Florida regions.
Orlando and Disney World Area
With nearby tourist attractions like Disney World, SeaWorld and the Universal Orlando Resort, Orlando continues to show some of the strongest condo sales. Florida and U.S. tourists flock to the area, making it a prime investment area for vacation properties.
The median value for a standard 2 bedroom condo in the Orlando area sits between $225,000 and $250,000 depending on its proximity to nearby attractions and included amenities.
Miami Area
With over half a million residents in Miami and the surrounding area, the region has experienced enormous growth in condo sales. Florida and Miami residents have made beachfront and water-view Miami condos a prime investment with high demand.
Despite the recent downturn in the national and Florida housing markets, Miami luxury condos have retained much of their value. The median sales price for a 2 bedroom condo in the Miami area sits just below $350,000.
However, while values are holding, sales are dropping because of buyer and seller hesitancy in the current real estate market.
Palm Beach and West Palm Beach Area
Palm Beach and West Palm Beach represent the highest number of luxury condos in Florida. When it comes to condo sales, Florida may be seeing a market downturn, but the high-end market of West Palm Beach has continued to see growth and a small increase in condo values.
While the median sale price isn't at the $1.1 million high of 2007, it currently sits at just under $800,000. However, this fluctuation in values is mostly owed to the fact that the number of properties being bought and sold in the West Palm Beach area is low, making it easier for a single property to pull the median value either up or down in a single quarter.
Despite the recent statewide slump in condo sales, Florida residents can look to areas like West Palm Beach, Miami, Orlando and Fort Myers for investment retention and an increase in property values.
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HomePropertyTips.com :: Condo Sales Florida