Orlando Condo Sales Up, Home Sales Down

Condo sales have increased 158% compared to March 2005, while single family homes were down by 9%. The first quarter of 2006 sales overall were up by 9.1%. Single family homes were down by 7.8% and condos were up by 145.7%. Condos are an affordable option for home buyers and downtown condos remain solid as it is a popular place to live. Single family homes have slowed for several reasons, now there is approximately 15,000 homes on the market, which means competition amongest sellers are strong. Sellers are becoming more flexible with negotiating repairs and allow contingencies on contracts. Courtesy of Orlando Sentinel 4/20/06.