The 2014 1st quarter saw a significant increase compared to the same period last year. The Number of Sales is up 24% and the Dollar Volume of Sold Listings is up a significant 36%. With $33.5 million in sales, this is the best start in a number of years.the Average Sale Price was also up 10%, largely due to a substantial increase in the volume of residential sales.
The Residential sector (houses, duplexes & townhomes) saw a dramatic increase, with the Number of Properties Sold for the quarter up 79%, while the Dollar Volume rose 70% from $13 million to $22.7 million. The Average Sale price for this sector was down, however, about 5%.
Condominium sales for the quarter were a sharp contrast to residential sales. Although the Number of Sales was up 5%, the Dollar Volume was only up 3%. Not a bad showing but it did result in the Average Price dropping 2%.
The Number of Vacant Land sales this year was down 31% while the Dollars of Sales was down 27% for this struggling sector. The only bright side is that the Average price is up 6%, howbeit on very low volume.
All indications are that this will be a very good year for real estate in Winter Park. The months of inventory has decreased quite a bit since the beginning of the year and distressed properties are fewer & fewer. There are still deals out there but the number of them is shrinking. Sometime soon we may be asking buyers “Where were you last year?”
A full copy of the Winter Park Real Estate Year-to-Date Report is available by emailing me at Paul@PaulLewis.net. You can always see all the MLS listings at www.WinterPark.CO.
These statistics were compiled from data from the Grand County Board of Realtors and are deemed reliable but cannot be guaranteed.