Florida Real Estate: Florida Condo Prices Down 37% Year Over Year

Great news for Florida condo buyers!  According to the Florida Association of Realtor’s recent reports, the price of a condo dropped 37 percent from February 2008 to February 2009.  The statewide existing condo median sales price last month was $109,300 while in February 2008 it was $173,900.  NAR reported the national median existing condo price was $174,400 in January 2009.  Although these numbers are depressing for sellers, and are greatly impacted by REO sales, it means there great deals out there for buyers, especially those with cash.

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