Winter Park Real Estate Up Substantially in First Quarter
Winter Park Real Estate is up 20% in Sales and 7% in Units Sold for the first quarter of 2017 compared to the previous year. Overall the Average Sales Price rose 12%. Results were up in the Residential and Vacant Land but down in the Condominium sector.
In the Residential Sector (Single Family Homes, Duplexes & Townhomes) for the year so far the Number of Sold Listings is up 2% and the Dollar Volume of Sold Listings is up 26% over 2015. The result of this is that the Average Price is significantly up by 23%.
The Condominium Sector showed much poorer activity. The Number of Sold Listings is down 9% and the Dollar Volume of Sold Listings is down an incredible 12%, thus producing an Average Sales Price decrease of 3%. It is likely this is due to less inventory on the market.
Vacant Land Number of Sold Listings is double what it was last year while the Dollar Volume of Sold Listings is up 170%. This continues the trend of more expensive lots being sold with the effect that the Average Sales Price is up 80%.
The first quarter was very strong but there are some trends to watch out for.. There are shortages in some segments of the market and a decrease in existing inventory, particularly in inexpensive properties. It is not unusual to see multiple offers for highly desirable properties. Opportunities for Buyers are decreasing as prices rise and the number of available properties fall.
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.WinterParkRealEstate.NET
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.