By definition luxury real estate in the greater Orlando area is any home above the $500,000 price range, this is based on guidelines from the Institute of Luxury Home Marketing where I am a member of and also hold the Guild designation. Click here for the Gitta's Institute Website. Luxury real estate in Windermere includes such luxury subdivisions as:
• Alador on Lake Butler
• Balmoral
• Bellaria
• Butler Bay
• Casa Del Lago
• Chaine Du Lac
• Crescent Lake Estates
• Davis Shores
• Down Acres Estates
• Down Point
• Estates at Lake Clarice
• Gardens of Isleworth
• Gotha
• Harbor Isle
• Isleworth
• Keenes Pointe
• Lake Butler Estates
• Lake Cawood
• Lake Cypress Cove
• Lake Down Crest
• Lake Down Pointe
• Lake Down Shores
• Lakes of Windermere
• Magnolia Park at Windermere
• Marina Bay Estates
• Metcalf Park
• Oxford Moor
• Reserve at Belmere
• Reserve at Lake Butler Sound
• Reserve at Waterford Pointe
• Summerport Beach
• Sunset Bay
• Tildens Grove
• Tuscany Ridge
• Waterford Pointe
• Weatherstone
• Westover Club
• Westover Reserve
• Willows at Lake Rhea
• Windermere Downs
• Windermere Grande
• Windsor Hill
• Worthington Park
Based on the September 2010 MLS luxury home sales numbers, there is an increase in the median luxury home price from last year same 9 month period of $715,000 to this year of $750,000 an 5% increase. Luxury home sales increased in the same period from 90 homes to 173 luxury homes.
The median per sqf. price showed a small decline from $179.00 in 2009 to this year of $173.00 or a 4% decline. These are bitter sweet luxury real estate news when you consider that we have 55 months of unsold inventory going into the slower months, with 339 current listings and 127 luxury home sales over the past 6 month.
Granted we have seen some great luxury real estate increases so far in 2010 in these luxury subdivisions. However, over 14% of the Windermere luxury real estate home inventory is in financial trouble, we may yet see a decline in value by the end of the year once these distressed luxury homes are sold off at distressed prices.
On the average luxury homes sold at 91% of asking price, however if you do not ask, you do not get. Here is a property which sold in Isleworth at 61% of asking price, it was listed at $1,650,000 and sold at $1,000,000, what a great deal!
For foreclosure assistance, please go to www.greaterorlandohomes.com.
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