Winter Park Real Estate Posts Record Year, Best Since 2008!
Winter Park Real Estate posts record year, achieving the best year since 2008 with Total Sales of over $200 million for the first time since then and Sales Dollars up 22% over 2015 . Final figures were $205 million in Sales and 598 for the Number of Properties Sold is up 15%. Overall the Average Sales Price increased 5.5%. Results were up in all three sectors. The Residential Sector provided the biggest increase with over half of the upswing in dollars but Condominiums and Vacant Land were also strong.
In the Residential Sector (Single Family Homes, Duplexes & Townhomes) for the year the Number of Sold Listings is up 14.5% and the Dollar Volume of Sold Listings is up 20% over 2015. The result of this is that the Average Price is up by 4.5%.
The Condominium Sector also did well. The Number of Sold Listings is up 16% and the Dollar Volume of Sold Listings is up a significant 25%, thus producing an Average Sales Price increase of 7% for the year.
Vacant Land Number of Sold Listings is up 12% compared to last year while the Dollar Volume of Sold Listings is up 19%. This continues the trend of more expensive lots being sold with the effect that the Average Sales Price is up 7%.
2016 was an exciting year for Winter Park real estate. Sales increased, the number of sales increased and the average price increased. All of these show a market which is on the rise. Like most things in life, it is not across the board. However most properties that are priced correctly and attractive compared to their competition will see their share of activity. A few even have enough interest that they have multiple bids forcing their prices above what they are listed for. It is not a time for Buyers to wait for a better deal to come along. The incredibly low prices of a few years ago are long gone. The savvy Buyer will know when the right deal comes along and act quickly or lose it. Working with the right Realtor such as me goes a long way toward making that happen.
This report was created by Paul Lewis with statistics that were compiled from data from the Grand County Board of Realtors and are deemed reliable but cannot be guaranteed.