Winter Park real estate sales have shown a sizable growth in the number of sales but a decline in the dollars of sales through June of this year compared to 2012. This has resulted in a decline in the average sales price.
The total Number of Sales for all property segments (Residential, Condominiums & Vacant Land) is up 14%, but the Dollar Volume of Sales is down 3%. Thus the Average Sale Price is down 16% or $56,000.
This is primarily due to a decline in the highest segment of the market, Residential. The Number of Sales here is down 16%, while the Dollar Volume is down 22%. So not only has the Number of Sales slipped significantly but the Dollars are even worse as it has resulted in an Average Price setback of -8% equal to $40,163
This has been somewhat offset by a very strong Condominium sector. Here the Number of Sales has increased 33% and the Dollar Volume of Sales is up an astounding 50% driving the average price up 13% or $23,749
Vacant Land has also improved dramatically with the Number of Sales up 73% while the Dollar Volume of Sales is up 46%. Although this does mean a dip in the Average Price of 15%, it is still nice to see some greater activity in this sector.
We have seen a dramatic change in sales so far this year with Condominiums & Vacant Land strong and Residential faltering. This is just the opposite of what we experienced last year. While this swing would seem to be getting back to a more historical mix, both the Number of Sales and the Dollar Volume need to see a significant increase before we can call Winter Park a healthy real estate market.