The Orlando housing market continues to outstrip the rest of the state, for single family homes as well as condominiums and townhomes. Through the month of September, Orlando’s median townhome and condo prices reached more than twice their median amount from 2009, a growth trend that is mostly unmatched across the nation. Median price went as high as $110,000, a massive increase from 2009’s $50,000 median. Furthermore, there were nearly 700 condo units sold during the month, a ten percent sales increase as compared to last year. In comparison, statewide condo sales volume only increased 2 percent year over year.

Market analysts believe this trend denotes that most of the distressed properties in the area have been sold and are no longer bringing down median sales prices. Additionally, many new projects in the area are being built as condominiums rather than apartments. What’s more, many existing apartment complexes are being converted to luxury condominium and townhouse-type communities.

Such growth is truly astounding for the Orlando area, since 2009 saw Orlando’s condo prices declining more than any other metropolitan area across the country. At its lowest point in the 3rd quarter, median prices had fallen by $64,000, just over the course of a single year. Major investors, both domestic and foreign, have purchased a number of the Orlando area’s condominium projects, bringing the steady cash flow Orlando needed to return to a healthy housing market.

At Real Estate Closing Solutions, we offer our clients a number of professional services designed to exceed their title insurance and closing needs, including:

  • A 24/7 Rate Quoter
  • Thorough communication with all involved parties
  • Comprehensive review of the property’s history and title
  • Trusted Central Florida closing agents with years of experience
  • Continuing education opportunities

And much more.

Real Estate Closing Solutions is an independent Orlando title insurance and closing agency that focuses on unbiased and equal servicing expertise to all parties in the real estate transaction. To stay up to date on Orlando real estate news, contact the top Central Florida closing agents today at 407-615-8550, read our website or stop by our office.