Windermere Market Report
3rd Quarter of 2020
Thank you for taking minutes to read the Ron the Realtor Windermere Real Estate Report. Breaking down the Windermere real estate market in a way not found anywhere else on the internet. With deep analysis and boots on the ground accounts from Windermere resident, 4th in the history of closed sales in Orange County, and #1 Remax Realtor in State of Florida 3 consecutive years running.
Windermere experienced the biggest 3rd Quarter improvement on every major category since I have been doing this publication ( 19 years religiously)
Take 10 minutes and get the in depth analysis and break down from the areas top Realtor and long time resident , Ron the Realtor.
702,833
Average Sale Price
13
Increase
66
Average Days on Market
14
Increase
202.31
ave $/ft
7
Increase
482,500
Median Sale Price
9
Increase
2020 3rd Qtr comparison VS 2019
The unprecedented spike in Average Sale Price, We broke $700,000 (almost $100,000 jump in ave sp)! Windermere JUST BROKE $200 / ft !!!! Days on market were actually increased, but as always RTR knows why. It is because the supply is so low that even homes that could not sell, actually did… We had 6 homes that were on the market for over a year that closed and funded… one was approaching 3 years! These large numbers will always impact the short-term data, you just need to know find the why to understand how. No worries you are part of the RTR ARMY and a reader of this quarterly report.
As always, lets dive down deeper… to data not found anywhere else on the internet… Lets peel away the townhomes and condos and really look at the true Windermere Market…single family residences.
778,803
Average Sale Price
10
Increase
73
Average Days on Market
8
Increase
210.04
ave $/ft
6.5
Increase
545,000
Median Sale Price
8
Increase
Single family market.. fast approaching an average sale price of $800,000 and a median that experienced an 8% jump…just WOW !. Average $/ft well over $200/ft is something the area has never experienced in a quarter. Again the days on market fell victim to several dogs that couldn’t hunt eventually finding homes. A true testament to the current market and its demand. What was really fascinating was the 14 homes that closed over $2,000,000, 2 that were over $5.5M ! Never seen this much activity in the 3rd quarter in the ultra luxury area. Several more homes closed just under that 2m mark too.
RTR MARKET ANALYSIS
The 3rd quarter was like one I have not witnessed since the BOOM of 2005 & 2006. This was different though. This was not fueled by greed and the quest for fast cash through speculation, the quest for easy money and fueled by corporate greed in the form of loose financing guidelines. This was something entirely different and something I didn’t even see coming at the speed and ferocity at which it came.
The 2nd quarter experienced unprecedented events with Covid forcing the shut down of the largest economy in the country. The counties largest employer, Disney, shut its doors for first time in history and furloughed its massive work force.
As the 3rd Quarter of 2020 revved up, Americans realized that a commute wasn’t as crucial to their housing must haves anymore. They also realized that home is of more importance than ever. Small businesses across the country were forced to close due to policies set in place by their State governors. Numerous Democratic run states experienced riots in their major cities that went on for weeks and months fueling an increase in murder and violent crime .
It created the perfect storm for our local area coupled with RECORD LOW INTEREST RATES. This was not like 2005-2006… The Record jump across all the metrics I track from 3rd qtr 2019 to 3rd qtr 2020 was like one I have never witnessed. The 3rd quarter is usually a time when the market starts to wind down, Schools starts and midway through the quarter schools tarts, signaling the end of the summer buying season.
Instead buyers have come in droves to the area from other areas of the country. Areas where real estate values are far greater than they are here. Where did the majority of the calls I receive ask to concentrate their families home search? Windermere. The exclusive gated communities, the famed Butler Chain of Lakes, the majestic oaks lining the quiet streets, the sought after schools and of course the amazing location to anywhere Orlando.
What came next and what is continuing to happen is a demand far outpacing supply with buyers willing to pay above appraised value for property in this area.
As we know they are not building any more land, and Windermere has so few parcels left to develop, Out of town buyers are not looking to remodel as soon as they arrive, they do not have the contacts and who wants to live in a war zone after a move like that. The result is premium prices and multiple offers on homes that are in fact “turn key” condition.
RTR PREDICTION
So many just scroll to this section, rightfully so. The demand will continue to outpace the supply. November 3rd will be the deciding factor if our Country continues to boom out of this economic time out or recoil into a recession. The FED and their control of the interest rates will be a close a second. Windermere will be affected by both as much as most parts of the country.
At the end of the day, no matter what happens regarding both of these 2 key factors, it will not change the fact that Windermere is one of the most sought after places to call home in Central Florida. If Trump is not reelected, we all know taxes will be skyrocketing… this will fuel higher net worth families to flee even faster from the Blue States to our tax safe haven of Florida.
More I think about it interest rates really play a higher impact on the Windermere market that even the biggest election of our time.
If you have been on the fence about selling and buying the home you always wanted. I cannot stress this enough… there has never been a better time in my over 2 decade career to do this that right now … Call and lets discuss what I can get for your home, costs you nothing to have me sit and discuss this with you. Who else would you want to get real estate advise and a game plan from that RTR?
"Thank you for taking the time to read this report and to be a member of the RTR ARMY, because of you... I get to live the American Dream. I do what I love to do every day life, I am truly blessed beyond words and owe it all to you the RTR ARMY.
God Bless our troops overseas and the families they leave behind. I for one will never forget that FREEDOM IS NEVER FREE. My family thanks you for your service and sacrifice."
THE HARDER YOU WORK, THE LUCKIER YOU GET
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