Winter Park & Orlando Florida Real Estate - Homes, Townhomes & Condos
Winter Park Florida Real Estate
Market Update - November, 2007
Specializing in Winter Park Real Estate, Orlando Real Estate,
Orange County Real Estate and Seminole County Real Estate in Florida
The current real estate market in Winter Park, just like the rest of Central Florida, is favoring buyers. Inventory is at all time highs and the number of sales each month is way down. Prices have adjusted, time on market is up and sellers & home builders alike are offering great incentives to buy their homes. Distressed properties, such as short-sales and foreclosures are becoming very common. If you're currently in the market for a new home or investment property, now is the perfect time.
We're seeing many investors and first time buyers alike wanting to take advantage of the many great deals out there. Due to the lack of sales, most buyers are making low-ball offers in order to get the best deal possible. Who can blame them? Everyone loves a deal! Just make sure you're working with a real estate agent who is knowledgeable and can help you avoid offending the seller, thus maximizing your chances of getting that deal.
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Here is the brief synopsis of the entire Central Florida market:
Average Days on Market (DOM): 115
This is UP from 74 DOM in November 2006
Sales Closed: 963
This is DOWN 47% from 1840 in November 2006
Current Listing Inventory: 26,172
This is UP from 21,122 in November 2006
Winter Park
Winter Park is a unique community and has not been as heavily impacted as the rest of the Central Florida real estate market. Yes prices have adjusted and sales are down. But rest assured, Winter Park real estate is as highly sought after as ever.
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When selling your Winter Park home, you have to make sure you hire a competent real estate agent that will market your home aggressively and advise you on pricing your home effectively from the start. For example, over 90% of all home buyers are shopping online. This is where your real estate agent's efforts should be focused. Your home should also be featured with a virtual tour and multiple photos, as most buyers won't even consider your home without knowing what the interior looks like. We're not going to give away all our secrets here, so give us a call and we'll be happy to prepare a customized marketing plan for your home.
As you can see from the below data, the list price to sold price ratio remains fairly strong. This is important to note, as most homebuyers are savvy and won't even consider overpriced listings. The properties that are selling quickly are those that are marketed aggressively by competent real estate agent and are priced right from the start. Those that are priced high will stay on the market until the price is brought in line with today's actual market value.
Here are some important Winter Park statistics to keep you in the loop!
Single Family Homes
602 Active Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 7 | 8 | 9,829 | $8,500,000 |
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Low | 1 | 1 | 599 | $119,900 |
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Average | 3 | 2 | 2,320 | $712,297 |
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40 Pending Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 5 | 4 | 4,669 | $1,875,000 |
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Low | 2 | 1 | 750 | $189,900 |
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Average | 3 | 2 | 2,010 | $493,049 |
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33 Sold Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 5 | 6 | 6,542 | $3,995,000 | $3,600,000 | 329 |
Low | 3 | 2 | 1,179 | $199,900 | $195,500 | 32 |
Average | 3 | 2 | 2,453 | $739,309 | $664,939 | 147 |
Townhomes
84 Active Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 4 | 3 | 3,344 | $1,168025 |
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Low | 1 | 1 | 763 | $120,000 |
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Average | 2 | 2 | 1,753 | $361,875 |
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8 Pending Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 3 | 3 | 3,327 | $1,495,000 |
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Low | 2 | 2 | 1,090 | $104,900 |
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Average | 2 | 2 | 2,435 | $854,225 |
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5 Sold Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 3 | 2 | 1,652 | $299,500 | $290,000 | 346 |
Low | 2 | 2 | 1,513 | $189,990 | $180,000 | 56 |
Average | 2 | 2 | 1,574 | $218,498 | $210,780 | 169 |
Condos
209 Active Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 4 | 5 | 5,430 | $3,295,000 |
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Low | 0 | 1 | 513 | $67,000 |
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Average | 2 | 1 | 1,301 | $380,578 |
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14 Pending Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 3 | 3 | 3,839 | $1,724,000 |
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Low | 2 | 2 | 858 | $170,000 |
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Average | 2 | 2 | 2,295 | $740,571 |
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9 Sold Listings |
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| Beds | Baths | SqFt | LP | SP | DOM |
High | 3 | 5 | 4,090 | $2,500,000 | $2,050,000 | 475 |
Low | 2 | 1 | 1,003 | $109,000 | $100,000 | 0 |
Average | 2 | 2 | 1,708 | $629,913 | $570,113 | 168 |
Contact us today for information or statistics on homes or the general real estate market in Winter Park, Orlando or the surrounding Central Florida area. We're always available to answer questions.
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