Published September 28, 2026 in Market Update

Under $200,000 Condos Had a 0% Give-Up Rate. Every Other Range Did Not.

By Marlon Persaud

Real estate, Condo Market Update CLEAN 32801

As of September 28, 2026, I had 196 condo sales in front of me, every one that closed in the 32801 market. I started sorting them the way I always do: by price range, by neighborhood, by how long they sat. What I found at the bottom of the price ladder stopped me.

I started with the one question every seller asks: did anyone get what they asked?

Across all 196 sales, the typical home sold for 91.7% of its last asking price. The typical home took 81 days to find a buyer. Neither of those numbers is alarming, but neither is exciting.

Then I cut the data by price range. I looked at which homes sold at or above what they first asked. That is the cleanest sign of real demand. A home that gets its full price did not need to negotiate. The seller held the line.

Under $200,000 was the only range where sellers consistently held that line. 14.3% of homes in that range sold at or above their asking price. Every other range was lower, and the drop was not small.

Not one home under $200,000 gave up and walked away.

I checked the give-up rate next. Sixteen homes in this market came off the market with no sale and never came back. That is 16 sellers who started, waited, and ended up with nothing to show for it. The typical home that gave up had first asked $342,500. The typical home that sold had first asked $282,495. That is a $60,005 gap. Sellers who priced too high were the ones who gave up.

But here is the number I did not expect. Of the 56 homes priced under $200,000, zero gave up. Not one. Every single home in that range either sold or is still on the market working toward a sale.

Then I looked at what is sitting on the market right now, and the picture is harder.

There are 111 condos for sale in 32801 today. At the pace of the last 90 days, 11 homes are selling each month. That means it would take 10.1 months to clear every home for sale right now. A balanced market sits around 4 to 6 months. Ten months is a buyer's market.

55.9% of homes for sale have already dropped their price. The typical drop is $20,000. The biggest single cut in the market right now is $349,000, on a unit at 530 East Central. Sellers are adjusting. Many are not adjusting fast enough.

The last condo that went into a bidding war, meaning it sold 3% or more above its asking price, went under contract on July 26 at Lucerne Oaks. In the 64 days since then, 14 more homes went under contract and none of them triggered a bidding war. That stretch tells you where buyer energy is right now.

One more cut surprised me. Homes that used a loan actually sold slightly faster than cash buyers. The typical loan sale closed in 76 days. The typical cash sale took 83 days. Cash is not always the speed advantage people assume it is in this market.

If you are selling or buying, here is what these numbers actually mean for you.

If you are selling, the single most important thing this data shows is where to price. Homes that first asked under $200,000 had a 0% give-up rate and got 94% of their asking price in 63 days. Homes that first asked $250,000 to $350,000 took 95 days and sold for 89.2% of asking. The market is not broken. It is just very sensitive to where you start. With 55.9% of active listings already cutting their price, the sellers who price right from the beginning are the ones who avoid that grind. The 30-year fixed mortgage averaged 7.03% as of September 24, 2026, according to Freddie Mac's weekly rate survey, which is 73 basis points higher than a year ago. That rate is squeezing what buyers can afford, and it is one reason the under-$200,000 range keeps drawing the most consistent demand.

If you are buying, 10.1 months of supply means you have real choices and real time to think. But the homes that are priced right are still moving. The 57 condos that sold in their first month got 96.2% of asking price. The 30 that took over six months got only 82.2%. The gap between a well-priced home and a stale one is almost 14 percentage points. Watch for homes that have already cut their price: the typical cut is $20,000, and that is often a seller who is now ready to deal. The Orlando metro added 16,200 jobs over the past year, a 1.1% gain, according to the Florida Department of Economic Opportunity, which supports continued local demand even as national existing-home sales slipped 2.0% month-over-month in August, per the National Association of Realtors.