The increase in Sales in Winter Park over the previous year was the strongest since 1997. It even beat the record years of 2003 to 2008. The Number of Sales was up 31% and the Dollar Volume of Sold Listings rose an incredible 43%. With $151 million in sales, this year was the best year for sales since 2008. The Average Sale price was up 8.9%
The Residential sector (houses, duplexes & townhomes) continued to rise, with the Number of Properties Sold for the final quarter up 7% year over year, & 34% for the total year, while the Dollar Volume rose 22% for the quarter & 42 % for the year from $68 million last year to $96 million this year. The Average Sale price for this sector recovered from the first half of the year to end up 6%.
Condominium sales for the quarter were up 58% with an almost unbelievable increase in Dollar Volume of 70%. For the full year the Number of Sales was up 32% while the Dollar Volume was up 40%, resulting in the Average Price rising 6%.
The Number of Vacant Land sales this last quarter was up 200% and the Dollars of Sales was up 286%, a record for any sector. For the total year the Number of Sales was up 18% & the Total Dollars of Sales was up 66%, while the average price has risen 41%.
2014 was a turn-around year for Winter Park Real Estate. Clearly the bottom is past and the market is poised for significant growth in the next few years. All of the signs are there – lower inventory, lack of distressed properties & anxious sellers, and greater interest on the part of buyers. So, while many of the deals that existed in the last few years are gone, it is still a great time to buy.
These statistics were compiled from data from the Grand County Board of Realtors and are deemed reliable but cannot be guaranteed.