The following are the market sales statistics for Windermere, Orange County, Florida for November 2008. Windermere is made up of the zip code 34786. For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.
A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.
The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.
The sales to list price ratio is just that, you’re dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.
There needs to be a disclaimer here. These stats are only as good as telling us what it being purchased and happening at a certain period in time. Also, it needs to be fully understood that not only is real estate local, but it is hyper-local. What this means is that the trends that we hear about are overall. Let's put it this way, what's happening in one neighborhood, may not be realized in the neighborhood next door.
Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.
Single-Family Homes
30 homes sold during the month of November.
The average sales price is $648,121 with 163 days on the market.
The median sales price is $403,450.
The sales to list price ratio is 91%.
The most expensive home sold for $3.1M in Isleworth and was on the market 346 days
The least expensive home sold for $200,900 in Lakes of Windermere after 114 days on the market.
The average sales price for the same period a year earlier was $693,479 with 197 days on the market and a sales to list price ratio of 94% on 24 sales, an increase of 25%.
The month to month changes show an increase in the average sales price of 56.8% and an increase in the median sales price of 7.6%. Yet, there was a decrease in sales volume of 6.3% with a 3% decrease in the sales to list price ratio. The sales price changes can be attributed to the fact that the there were 6 properties which sold for more than $1M topping at $3.1M this month as compared to the previous month.
Condos, Townhomes & Villas
3 homes sold
The average sales price was $154,000 with 90 days on the market.
The median sales price was $151,000.
The sales to list price ratio is 93%.
The most expensive villa sold for $161,000 in Summerport and was on the market 132 days.
The least expensive condo sold for $150,000 in Lakeside at Lakes of Windermere and was new construction.
The average sales price for the same period a year earlier was $214,045 with 96 days on the market and a sales to list price ratio of 97% on 5 sales, a decrease of 40%.
The month to month changes show a decrease in the average sales price of 55.5% and a decrease in the median sales price of 6.1%. Yet, there was also a decrease in sales volume of 67% with a 1% decrease in the sales to list price ratio. The decrease in these figures represents a somewhat similar increase in the previous months gains in that a villa had sold for $1.8M.
For information on Windermere and Orange County real estate and Windermere and Orange County homes for sale in addition to Windermere and Orange County relocation contact Marc Grossman, your Windermere and Orange County Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.
To learn more about Marc and the services he has to offer, visit his website.
Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034
You can read Marc’s other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker
Marc donates 10% of his net proceeds to Hospice of the Comforter.
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