New-home prices keep falling in Orange, Osceola, Seminole [Central Florida]
Prices for new single-family homes in the Orlando area continue to fall and will likely keep falling for months to come, according to the latest report by Charles Wayne Consulting Inc. in Maitland.
The average price paid for a new production-built home — not a custom job — fell 2.8 percent during the third quarter to $311,600 in Orange, Seminole and Osceola counties.
Since peaking in late 2006 at $388,700, the average price paid has declined about 20 percent, the real-estate consulting company said.
“Builders in this market have stepped up to the task of bringing affordability back to the Orlando new-home market,” company President Jim Lewis said. He expects the average price for a new house will continue to drop to about $290,000 next year, bringing prices back to levels more in line with historic trends.