Winter Park Real Estate Blog

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.

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.

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.

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 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.

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.

Winter Park Real Estate Sales in July have continued to climb compared to 2008 but they are still behind the pace of last year, particularly in some key areas. The Number of Total Properties Sold was down only 19% compared to last year but the value of those properties was down 48%. This is probably a factor of less expensive properties selling as well as properties selling for less than last year. Taken together, it means that the median price for all properties sold was down $80,000.

In Residential Sales (houses & townhomes) the Number of Properties Sold was down 45% while the Dollar Volume of Sold Listings was down 61% .

The Number of Properties Sold in the Condominium segment was up 40% compared to last July. This is the first time we have seen Condominium Sales up in 16 Months. The Dollar Volume of Sold Listings was also up, by 13%.

Land sales continue to lag, with the Number of Properties Sold down 67% and the Dollar Volume of Sold Listings down 91%. Land sales has been the weakest segment of the market and this continues to be true.

So there has been some improvement as the year has gone on compared to last year when you look at what was going on earlier this year. Still, sales are considerably lower than last year - down almost 70% for the 7 months so far. After August we typically see the number of sales slide off through the end of the year. In a weak selling market such as this one, that could put additional strain on the Sellers who have been reluctant to lower their asking prices. There are only a few less properties on the market than last year ( a reduction of only 3%), so reduced sales means that it is even harder to sell a property.

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.

Total Winter Park real estate sales improved in February over the previous month by 31%. The Number of Sold Listings was down dramatically from the same month the year before by 71%. The Dollar Volume of Sold Listings was $2,948,900 compared to $17,637,748 in February, 2008.

In the Residential sector, there were 3 properties that sold in February compared to 7 last year. Dollar Volume was $1,239,000 compared to $5,125,396 last year.

The Number of Condominiums Sold was 7 as opposed to 31 last year. Dollar Volume was $1,554,900 against $12,512,350 last year. In 2008 Intrawest was closing the new units at Fraser Crossing & Founders Pointe at Winter Park Ski Area so this year’s results are bound to look unfavorable.

Vacant land actually saw an increase this February with 1 sale compared to none last year. This is the first time since last April that this comparison is positive.

The market continues to struggle, with the biggest issue being the volume of sales. Add to that the fact that Intrawest sold $60 million of property in the first quarter of last year and any statistical comparison to last year is exasperating. Probably more important to look at is the trend from month to month this year. While the early signs offer some encouragement, it will take several months to see if there is true improvement.

A full copy of the Winter Park Real Estate 2009 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.

Real estate total sales for all segments in the Winter Park area ended up down 17% for 2008 with the number of properties sold down 25%. This makes 2008 the worst year for real estate sales since 2004. The average sales price was up 10% although part of this was due to a change in the mix with less vacant land sold and more residential and higher priced condominiums.

Residential (houses & townhomes) Total Sales were down 49% for the year with the number of Properties Sold down 48%. A total of 114 homes sold for $68.8 million with the median price down 5%.

Condominium Total Sales were up 62% with number of condos sold up 17%. The median price was up 45%. Most significant in these sales were the new condominium sales at the Village at Winter Park which accounted for almost 2/3 of all condominium sales

Vacant Land Sales was the worst segment last year. Total Sales were down 68% with the number of properties down 74%. A total of 28 properties sold in 2008 compare to 107 in 2007. The median price was up 22%.

With the volume of sales down so much, it is surprising that, for the most part, prices have held up. Possibly this is because Buyers are still willing to pay a good price for a desirable property while anything below that will just sit until the price is at a level where it becomes a good buy. 2009 is likely to be a turning point. If properties sales continue to languish, Sellers are likely to become more realistic about their pricing. If sales pick up, there is unlikely to be any movement to lower pricing. Most likely it will be a combination of these two as the market seeks a more balanced level.

A full copy of the Winter Park Real Estate 2008 Year End 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.

2008 has certainly been a lackluster year, but Total Sales for October are the best in 6 months. They were almost $15 million with 32 properties selling last month. This is still down 41% from last year, but is considerably ahead of the average this year. For the year-to-date comparison to 2007, Total Sales are down 8.6% with Properties Sold down 21.1%.

Residential (houses & townhomes) Total Sales were down 31% last month with the number of Properties Sold down 25%. For the year both are down 41%.

Condominium Total Sales were down 9% while the Properties Sold was down 36%. For the year-to-date Total Sales are up 71% while Properties Sold is up 23%.

Vacant Land Total Sales was down 91% last month with Properties Sold down 75%. For the yearly comparison, Vacant Land Total Sales are down 63% with Properties Sold down 71%.

Average prices are still considerably ahead of last year, although this is greatly impacted by the large number of new properties that have sold this year. Vacant Land continues to lag the furthest behind, perhaps as Buyers see this type of purchase for future use and are less likely to make this investment.

Historically there has been less activity as we head into the Holidays and the end of the year. This year is likely to be no exception so it will be at least next year before we see any improvement in the current trends.

A full copy of the Winter Park Real Estate 2008 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.