Downtown Orlando home prices outperform Florida’s

Downtown Orlando home prices outperform Florida’s

Orlando single-family home prices outperformed those in most other parts of the state during Aprilalthough the metro area’s recovery still lags behind southwest Florida cities.

Orlando single-family home prices outperformed those in most other parts of the state during April, although the metro area’s recovery still lags behind southwest Florida cities.

Prices for the four-county area hit a median of $161,000 during April, which was a 20.1 percent increase from a year earlier. The midpoint price for Florida’s 20 largest metropolitan areas was $165,000, which is a 17.4 percent increase during the year-long period.

Orlando’s condominium and townhouse prices similarly rose more during the last year than prices of those products throughout the state. In Orlando, the multi-family units sold for a mid-range price of $89,900, an increase of 19.9 percent from April 2012. Throughout the state, condo and townhome prices increased 16.4 percent during that period and hit a median of $128,000 in April.

Florida metro areas that rebounded the most during the last year were Naples/Marco Island, where median single-family prices reached $350,000, and Cape Coral/Fort Myers, where home prices were $182,000. Both of those areas experienced home-price gains of about 29 percent during the previous 12 months.

Nearby Orlando, Brevard home prices were at a median of $126,000 in April, marking an increase of 11.3 percent. Volusia, meanwhile, show some of the most modest gains in the state. It’s mid-point price for home sales was $114,900, which was an increase of only 4.5 percent from April 2012.

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