Winter Park Real Estate Sales Update
Winter Park Real Estate is up 37% in Sales and 29 % in Units Sold for the first half of 2016 compared to 2015. Overall the Average Sales Price increased 6%. Results were up in almost all sectors and indicators. Sales were particularly strong in May and June, setting the stage for a very active summer.
In the Residential Sector (Single Family Homes, Duplexes & Townhomes) both the Number of Sold Listings and the Dollar Volume of Sold Listings was up 27% over 2015. The result of this was that the Average Price stayed the same.
The Condominium Sector showed much better activity. The Number of Sold Listings was up 46% and the Dollar Volume of Sold Listings was up an incredible 62%, thus producing an Average Sales Price increase of 11%.
Vacant Land Number of Sold Listings was actually down 10% compared to last year while the Dollar Volume of Sold Listings was up 22%. This meant a number of more expensive lots sold with the effect that the Average Sales Price is up 36%.
The first half of 2016 demonstrates that Winter Park Real Estate Sales is on its way to a full recovery. While still nowhere near the highs of the mid to late 2000’s, sales continue to grow at a stronger pace than any time since then. Already there are shortages in some segments of the market and a decrease in existing inventory overall. It is not unusual to see multiple offers for highly desirable properties. There are still opportunities for Buyers but they may quickly disappear in this competitive market.