Winter Park Real Estate continued to perform poorly in the second quarter of 2015. The Number of Sold Listings was down 9% for the quarter (-12% for the first half of the year) and the Dollar Volume of Sold Listings was down 14% for the quarter (-17% for the first half of the year).
Particularly weak was the Residential Sector (Single Family Homes, Duplexes & Townhomes) where the Number of Sold Listings was down 25% from the first half of last year and the Dollar Volume of Sold Listings was down 21%. The only good news here is that the Average Sales Price is up 5%.
The Condominium Sector fared better. While the Number of Sold Listings was down 7% for the year to date, the Dollar Volume of Sold Listings was even with last year, thus producing an Average Sales Price increase of 8%.
Vacant Land Number of Sold Listings was up 25% from the first half of last year while the Dollar Volume of Sold Listings was down 35%. This meant a whole lot of cheaper lots sold with the effect that the Average Sales Price is down a staggering 48%.
So far this year there is a clear trend that less expensive properties are selling and more expensive ones are not. Whether this is a major shift in the market or not should become clearer in the third quarter, which is traditionally the busiest period of the 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.WinterParkRealEstate.NET