Market Results in Winter Garden for June 2008 and Active/Pending as of July 15th

By
Real Estate Agent with Winter Garden, Florida

The sales closed of single family homes in Winter Garden for the month of June were brisk. The average price of a home was between $200,000 and $300,000. The upper priced homes in the above $400,000 range with a pool showed much less marketing time than other price brackets. FHA loans are making an impact in the lower sectors with other assistance programs such as Ameridream pulling in some sales as well. Some homes closed very close to their respective list price, but many others showed sizeable differences actual selling price compared to list price.

Sales closed for the month of July seems to be falling behind the previous month of June with 89 homes currently under contract. To date only 8 homes have closed this month but this number is not a likely indicator of the monthly totals to come. Most sales generally close in the last part of the month due to prorations and other escrows. Homes priced between $200,000 and $350,000 seem to be dominating the current pending listings and there are some pretty good deals being indicated in the Stone Creek subdivision. Many of the pendings in that neighborhood are preforeclosure sales and should be pending for at least the remainder of this month, and likely into late next month as well.

Our Active Listings for Winter Garden is currently at 576 single family homes for sale. The marketing time for most homes appears to be shrinking, while other listings seem to be struggling to come under contract. There is a lot of inventory available with a good mix of preforeclosures compared to standard listings. The majority of the homes available are priced at about $300,000 and up. Once again Stone Creek is reflecting some great deals in the under $200,000 price range. This neighborhood has held it's charm regardless of the pricing of homes within it. 

While showing properties this month I have noticed there seems to be an abundance of under priced homes, but not too many steals. Many of the homes I viewed need a bit of TLC and maybe a dash of paint, but all in all they are in great condition. There were a few "investor specials" that I came across that would make perfect properties to rent for a few years and sell later. Anyone with around $145,000 cash available to invest should consider holding some of these properties with a little rehab. Many of the homes that were priced low did not show any intent to go any lower on their price and this may be a sign of stability within the market. All in all Winter Garden has seen a great deal of the home prices being stable with a few exeptions It seems that the market needs a few more buyers to jump in and purchase homes to reduce the inventory and we should see another uptick in list price. There are a few areas that have shown an increase, with the higher priced homes showing great promise.

Comments (0)