The following are the market sales statistics for Winter Park, Seminole and Orange Counties, Florida for November 2008. Winter Park is made up of the zip codes of 32789 & 32792. 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.
23 homes sold during the month of November.
The average sales price is $310,452 with 105 days on the market.
The median sales price is $159,000.
The sales to list price ratio is 97%.
The most expensive home sold for $3M in Cady and appears to have been a pocket listing in that it was listed and under contract the same day.
The least expensive home sold for $70,000 in Magnolia Gardens after 129 days on the market.
The average sales price for the same period a year earlier was $664,939 with 337 days on the market and a sales to list price ratio of 92% on 33 sales, a decrease of 30%.
The month to month changes show an increase in the average sales price of 11% and a decrease in the median sales price of 16.7%. There was also an increase in sales volume of 15% with a 3% increase in the sales to list price ratio.
Condos, Townhomes & Villas
9 homes sold
The average sales price was $263,533 with 174 days on the market.
The median sales price was $93,000.
The sales to list price ratio is 86%.
The most expensive sold for $1.2M in Residences Condo and was on the market 496 days.
The least expensive condo sold for $63,500 in Lake Killarney after 113 days on the market.
The average sales price a year earlier was $441,780 (2 condos sold for almost $2M) with 140 days on the market and a sales to list price ratio of 94% on 14 sales, an increase of 50%.
The month to month changes show an increase in the average sales price of 35% and a decrease in the median sales price of 32.4%. Yet, there was a decrease in sales volume of 25% with an 8% decrease in the sales to list price ratio.
For information on Winter Park and Seminole and Orange County real estate and Winter Park and Seminole and Orange County homes for sale in addition to Winter Park and Seminole and Orange County relocation contact Marc Grossman, your Winter Park and Seminole 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
Marc donates 10% of his net proceeds to Hospice of the Comforter.