29 Month Supply of Condos in Orlando is Nothing Compared to Miami

Posted on August 31, 2007

55 West Condo Orlando FL

The Orlando Sentinel recently reported there is a 29 month supply of condos available with 4,400 condos for sale in the Orlando area. I was not surprised when I read the Orlando Sentinel article this past weekend as downtown is exploding with condo towers that appear empty at night. Then reading that Miami has over 48,000 condos coming availablevery soon with over 40,000 more approved I was shocked. That is a ton of construction with much higher price tags than in Orlando that was fueled largely on speculation and amateur investors. Most entry level condos in Orlando were in the $200,000 to $300,ooo price range while in Miami $500,000 to $600,000 was more the norm. Would you close on the condo or just eat your deposit in this situation?

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