Condo Craze Hits Florida

According to the U.S. Condo Exchange, over $1.5 billion of Orlando and Tampa Bay condominiums have been added to its online condo marketplace. This increase marks the second phase of the company’s national rollout.

The exchange was launched this past summer with an initial focus on South Florida. Over 5,000 listings in those regions can now be purchased via the site. Richard Swerdlow, the company’s CEO, explained the reason behind this location decision in a recent statement.

“The Orlando and Tampa Bay areas are seeing skyrocketing growth, with the condo market surging to meet the demand,” he said. “We wanted to establish a presence in these important markets very quickly, where we will provide a level of efficiency and information to condo buying in the Orlando and Tampa Bay regions that has never before existed.”

Potential buyers can put in a bid of up to $3.2 million for a “penthouse in the sky” on downtown Church St. in Orlando. It would be complete with media room and gym; or a two-level penthouse in the city with views of theme park fireworks for $1.2 million. More economical choices include a $224,900 two-bedroom condo near Disney World and an outlet mall, or a $159,900-condo near Universal Studios and International Drive.

The site is quite extensive. It offers a satellite tour of the region that includes street names, malls, parks, marinas. You can also view satellite maps that give an aerial perspective of surroundings.

If you’re looking for fixed-rate loans or anything else related to the condo market in Florida, this should be at least one of your destinations.