Downtown Orlando Condominium
2025 Market Update
Market Overview
Downtown Orlando’s condo market, like much of the real estate landscape, hit some turbulence in 2024. But even with these challenges, it has proven to be resilient. One of the biggest hurdles has been the sharp rise in association dues and insurance premiums, largely due to new structural requirements put in place after the Surfside Collapse. Some condo owners saw their association dues jump by as much as 100%, putting serious financial strain on those with fixed incomes and forcing many to sell.
This influx of listings sent inventory soaring—up 75% in 2024, the biggest jump in the last decade. Naturally, when supply outpaces demand, prices take a hit. The median sale price for downtown condos dropped from $314,725 ($327/Sqft) in 2023 to $280,000 ($314/Sqft) in 2024. While condos in downtown Orlando saw steeper declines than the broader Orange County market, the county as a whole also struggled with minimal price appreciation and rising inventory levels.
Looking Ahead: Developments & Opportunities
It wasn’t all bad news in 2024, and there’s plenty to be optimistic about moving forward. Downtown Orlando is in the midst of a transformation, with several major projects set to boost its appeal. The Creative Village Campus and Westcourt Entertainment District are two of the most exciting developments, bringing new energy to the west side of downtown. Meanwhile, landmarks like Church Street Station and Lake Eola Park are getting much-needed facelifts, enhancing the city’s charm and walkability. The City of Orlando is also making moves to improve safety, increasing police presence and tightening regulations for bars and nightclubs to create a more welcoming environment
Average Days on Market (32801)
for residents and visitors. And let’s not forget—Downtown Orlando continues to be one of Central Florida’s go-to spots for community events, hosting hundreds of festivals, markets, and family-friendly gatherings throughout the year.
What to Expect in 2025
As we step into 2025, all eyes are on sale prices, inventory levels, and interest rates. A potential drop in mortgage rates could reignite buyer demand, as many who have been sitting on the sidelines may finally feel ready to make a move. Another key factor? Whether lawmakers in Tallahassee introduce measures to ease the burden of structural integrity reserve studies—possibly through interest-free loans or extended reserve-building periods—which could slow the sharp rise in condo fees and special assessments.
Even with some uncertainty, one thing remains clear: Downtown Orlando condominiums continue to appeal to a niche market drawn to the downtown lifestyle. Whether you’re looking to invest or find a home in the heart of the city, our team is here to help you navigate the market and make the right move.
Disclaimer: All investment strategies and investments involve risk of loss. Nothing contained in this article should be construed as investment advice.
Sources: U.S. Bureau of Labor Statistics, U.S. Census Bureau, U.S. Department of Housing and Urban Development, Orlando Regional Realtor Association, Stellar MLS, Freddie Mac.
Sold Price by Sqft. (32801)
Active Number of Listings (32801)
*Based on information from the Orange Property Appraiser. This information may or may not include all properties sold in Waverly on Lake Eola during the reporting period. The accuracy of information in this report is dependent upon the aforementioned source, and is not guaranteed. If your property is presently listed with another broker, this is not a solicitation of that listing.
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