According to the most recent Orlando MSA statistics, the condo market is much worse here than the market for single family homes. The sale of condos dropped 63% in the past twelve months while the sale of single family homes have dropped only 43%. Don’t get me wrong they’re both bad but you can’t say condos aren’t worse off.
The condo market in Orlando is also worse than the rest of the state of Florida. Condo sales have only declined 27% in the same period for the state as a whole. Perhaps the reason for this disparity is that Orlando drew in a lot more investors during the boom years between 2003-2006.
I can definitely attest to the fact that many of the condos for sale these days are vacant and investor owned.