9.11.2009 | Home prices continue to fall in Central Florida (Source: WDBO Local News)
A large number of foreclosure and distressed home sales helped drive the median prices for existing homes down in Central Florida last month.
The Orlando Regional Realtor Association says the median price fell to $128,000 in August. That's a decline of about $5,000 from July, and 36% compared to the same time last year.
But the Realtors point out the price for a "normal" home stood at $165,000. And the number of sales increased over 65% from last year. More than 16,000 homes are on the market: that's 35% lower than August of 2008.
Year-to-date sales county-by-county:
- Orange: 71.57 percent above 2008 (9,843 homes sold to date in 2009 compared to 5,737 in 2008)
- Osceola: 111.75 percent above 2008 (3,551 homes sold to date in 2009 compared to 1,677 in 2008)
- Seminole: 17.63 percent above 2008 (2,702 sold to date in 2009 compared to 2,297 in 2008)
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