Winter Park Real Estate Blog

Winter Park Real Estate Sales Show Mixed Results for July

Paul Lewis — Wed, 25 Aug 2010 17:46:30 +0000

For the month of July, the Number of Properties Sold was down 36% but the Total Dollar Volume was up 1% compared to same month in 2009, causing the Average Sale Price to be up 59%. This was the result of a higher number of sales in Residential (at higher prices) and a lower number of sales in Condominiums and vacant land (at lower prices). However, both the Number of Properties Sold and the Total Dollar Volume were a significant drop from last month.

In the Residential sector Number of Properties Sold was up 31% for the month while the Dollar Volume was up 41%, allowing the Average Price to go up 50%.

Condominium number of sales for July were down 57% from last year and the Dollar Volume was down 53% so the Average Price was actually up 11%.

The Vacant Land Number of Properties Sold this year was 0 whereas there were 2 sales last year.

July’s results are mixed but show that we are not out of the woods yet and any expectations for the rest of the year must be cautious. We are still a healthy amount ahead of last year, but it is unlikely we will achieve the level of sales that we had as long ago as 2004.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate Sales Up For 1st Half of the year

Paul Lewis — Thu, 29 Jul 2010 16:00:49 +0000

For the 1st half of 2010, the Number of Properties Sold was up 62% and the Total Dollar Volume was up 46% compared to same period in 2009, while the Average Price was down 10%. As an historical perspective, this is the second worst performance (after last year) since 2002 and less than one-third of the volume for the first 6 months in 2008.

June was the best month of the year so far. For the month, the Number of Properties Sold was 34 this year compared to 13 last year and the Total Dollar Volume was $11,493,440 compared to $5,470,800. Average Price for all properties was $338,042 against $420,831 last year.

In the Residential sector Number of Properties Sold was up 86% for the month while the Dollar Volume was up 88%, although the Average Price was up 1%

Condominium sales for June were double from last year and the Dollar Volume was up 89% so the Average Price was down 5%.

Vacant Land Number of Properties Sold was 9 where there were no sales last year, so for this month this sector showed the greatest improvement. This sector is still far behind historical sales and it is important to remember that it only makes up 8.5% of the total volume.

June’s results certainly are encouraging but the big summer months still lie ahead. It does look like this year will be an improvement over last year, but there is still a long way to go to measure up to historical sales.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate Sales Up With Slight Decrease In Prices for May

Paul Lewis — Wed, 30 Jun 2010 21:31:05 +0000

Number of Properties Sold was up 25% and the Total Dollar Volume was up 23% in May this year compared to last year, while the Average Price was only down 1%. The Number of Properties Sold was 20 this year compared to 16 last year and the Total Dollar Volume was $6,562,900 compared to $5,322,312. Average Price for all properties was $328,145 in May against $332,645 last year.

In the Residential sector Number of Properties Sold was up 20% for the month while the Dollar Volume was only up 8% causing the Average Price to be down 10%

Condominium sales for May were up 33% and the Dollar Volume was up 38% so the Average Price was up 4%, only the second time this year we have seen an increase here.

Vacant Land Number of Properties Sold was the same this year last year but the Dollar Volume was up 36%, resulting in an increase in Average Price of $74,000 or 36%.

Every month is interesting in its own right and this May was no exception as the Average Price rose in two of the three sectors, Condominiums and Vacant Land. Still the overall trend for the year so far continues to be a steady increase in Number of Properties Sold and a smaller increase in Dollar Volume of Sold Properties resulting in a small decrease in the Average Prices. None of this appears to be a surprise as the volume was so low last year it was unlikely to do anything but go up. Demand for properties still remains low and Buyers continue to shop for bargains and lower priced properties and this has an effect on the average prices.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate in April Shows Increase in Volume But Lower Prices

Paul Lewis — Thu, 20 May 2010 18:56:06 +0000

Number of Properties Sold was up 80% and the Total Dollar Volume was up 34 percent in April this year compared to last year, but the Average Price was down 25%. The Number of Properties Sold was 27 this year compared to 15 last year and the Total Dollar Volume was $9,702,475 compared to $7,226,302. Average Price for all properties was $359,351 against $481,753 last year.

Residential sales showed an increase of 33% in Properties Sold following last month’s sharp decrease. However, the average price was up 17%, or $100,969.

Condominium sales for April tripled from last year with a total of 12 closed sales. The average price was down $48,233 for the month and $57,259 for the year to date.

Vacant Land sales were up 50% for the month – 3 this year compared to 2 last year. The average price for the month was down 16% but is still up for the year.

The trend through four months is about the same as it was last month. Although prices have slipped a little, the Number of Sales & the Total Dollars of Sales continue to gradually and steadily go up.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate Shows Steady Climb on Low Volume Through First Quarter of 2010

Paul Lewis — Thu, 15 Apr 2010 16:18:30 +0000

Sales were up 33% for the first quarter of this year compared to last year for both Number of Properties Sold and the Total Dollar Volume. This is on 44 properties sold this year compared to 33 last year and $14,385,600 compared to $10,806,700.

Residential sales showed an decrease of 29% in Properties Sold after last month’s sharp increase. However, the average price was up 12% to 545,380.

Condominium sales for March more than doubled from last year with a total of 14 closed sales. The average price was down $130,957 for the month and $68,500 for the quarter.

Vacant Land sales were down for the first time this year. The average price for the quarter is up $72,647.

We continue to see a general trend upward although if one looks at results in any one month they are somewhat mixed. Generally the Number of Sales & the Total Dollars of Sales are going up while the Average Prices have gone down slightly.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate Has Big Jump over 2009 in February

Paul Lewis — Mon, 29 Mar 2010 18:52:27 +0000

The Winter Park Real Estate market was sharply up for February compared to 2009 with total Dollar Volume up 115% to $6,353,600. The Number of Sold Listings also increased 45%.

In contrast to last month, almost all of the increases were in the Residential sector. There were 10 homes sales this year compared to 3 last year and the Dollar volume was up over 300%. The average price was up $115,470.

Condominium sales decreased from 7 last year to 4 this year resulting in Dollar Volume being down 56%. The average price decreased 23% to #171,000.

Vacant Land sales were up for the second month this year with two sales compared to one last year. The average price is up also, although with so little volume so far this year, it is too early to draw any conclusions.

So far we are seeing increases over last year. In total they are modest but still create a favorable trend. It will be interesting to see what March and the end of the first quarter show.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

Winter Park Real Estate Starts 2010 with a Modest Gain

Paul Lewis — Sun, 28 Feb 2010 17:19:04 +0000

The Winter Park Real Estate market was slightly up for January. In what has always been a slow month, there were 8 properties sold compared to 7 last year. The mix was interesting, however, as Residential (Houses & Townhomes) was down, Condominiums and Vacant Land showed increases over last year.

The Residential Sector only had 1 sale vs. 5 sales last year. The good news is that the property that sold was for over $1,000,000. Condominium sales were 5 units closed this year compared to 2 last year. The Dollar Volume was also higher, so the average price actually increased 10%. For Vacant Land, there were 2 sales this year compared to none last year.

It is too early to tell how the year will go, but we still see some decreases in listing prices and new listings coming on the market at lower asking prices as Sellers get more realistic about what it takes to attract Buyers.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate Ends 2009 on an Upswing

Paul Lewis — Sat, 30 Jan 2010 19:23:33 +0000

The Winter Park Real Estate market showed solid gains for December and a strong upward trend for the second half of the year. Almost 2 ½ times as many properties sold in the second half of 2009; that compares to 2008 where less than a third of the properties sold in the second half. Not all of the news is good, however, as comparing all sales in 2009 to all sales in 2008, Average Prices were down about 20% for the year. The drop in Average Prices probably was not this drastic as some of this is affected by the fact that a large number of new properties were sold in 2008.

December was the best month of the year in Number of Sold Listings with 36 sold properties. That compares to 17 sold in December 2008 for an increase of 112%. The Dollar volume was up 43%. Sales were up across the board in every sector for the first time in the year, with Residential sales up 50%, Condominium sales up 150% and Vacant Land (yes, Vacant Land) sales up 300%. The Average Price was down 32%, however.

For a yearly comparison, the following charts help illustrate the differences between the two years. The first graph shows a significant drop in Units Sold in 2008. 2009 shows a steady increase in Units Sold, but starting from a much lower base.

The next graph shows much the same trends, with Dollar Volume dropping off sharply in 2008 and increasing in 2009, again from a much lower base. Also note that the amount of increase in 2009 is not as great as Units Sold in the first chart.

The third chart shows the Average Price. It jumps around quite a bit as it is affected by the mix of property types (Residential, Condominium, Vacant Land) sold and other factors, such as whether a larger number of new or older dwellings were sold in any particular month. So it is important not to focus on one month. It does clearly show that the Average Price is measurably down in 2009, which is overall around 20% less.

So what does all that mean for 2010? My expectation, unless there are major national impacts which are beyond the scope of this report to predict, is that we will continue to see a very similar pattern to 2009, with slow but steady growth in the Number of Sales and slower but also steady growth in the average prices. What this means for Sellers is that holding out until prices get significantly better could mean waiting for a long, long, time. Accurate pricing in line with what is really happening in the market will be critical to getting a property sold. What this means for Buyers is that the entire market is a bargain compared to a couple of years ago. There will also be some great buys as individual owners find themselves in situations where they need to sell quickly. But it is likely that there will not be as many of these as last year and the properties may not be as desirable.

As the old Chinese proverb says “May you live in interesting times”

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate Sales Continue Steady Slow Climb

Paul Lewis — Sun, 20 Dec 2009 18:18:04 +0000

Winter Park Real Estate Sales in November have continued to climb compared to 2008 and are ahead of last year for the last few months, but not the whole year. Still this is very encouraging as the pace rises where last year at this time it was falling off.

The Number of Total Properties Sold was up 170% in November compared to last year and the Dollar Volume of Sold Listings was up 171%. but the value of those properties was down 48%. This is the most solid performance o the year so far.

In Residential Sales (houses & townhomes) the Number of Properties Sold was up 225% with 13 homes selling compared to 4 last November. The Dollar Volume of Sold Listings was up 209%.

The Number of Properties Sold in the Condominium segment was up 133% compared to last November and the Dollar Volume of Sold Listings was also up, by 117%.

There were no land sales in November, which is the same as last November.

Maybe it’s too early to say that the recession is over in Winter Park. But all of the indications are that the market is improving. Prices have come down and while Buyers still seek out individual bargains, there has definitely been an upsurge in sales. It will be interesting to see what the new year brings.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Breaking News: Winter Park Real Estate Unit Sales Up for 3rd Quarter

Paul Lewis — Fri, 09 Oct 2009 18:55:59 +0000

With strong sales in September, Winter Park Real Estate Sales in September reversed a long standing downward trend and actually increased the Number of Total Properties Sold for the 3rd quarter, with 84 properties sold this year compared to 79 last year. The Dollar Volume of Sold Listings was still significantly off, down 18% as Buyers continued to opt for less expensive properties.

In Residential Sales (houses & townhomes) the Number of Properties Sold saw a substantial increase in September from 5 to 16 or 220%. The Dollar Volume of Sold Listings was also up sharply, 210% from last September. For the third quarter the Number of Properties Sold was up 28% while the Dollar Volume of Sold Listings was down 11%.

In the Condominium segment the Number of Properties Sold was also up for the 3rd quarter. Although not as dramatic as Residential Sales, it was up a solid 8%. The Dollar Volume of Sold Listings did not fare as well, however, down 11% The Number of Properties Sold was even for September with dollar volume down 5%.

Land sales was even for the month but continued behind for the quarter, with the Number of Properties Sold down 60% and the Dollar Volume of Sold Listings down 80%.

Although the prices could be higher, the third quarter was by far the best quarter in a long time. To begin any recovery, the number of sales has to increase and we have finally seen that happen. Hopefully it will continue, although there are certainly no guarantees in this shaky economy. But we have seen steady year over year improvement almost all year long so this is not an isolated event.

A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.