The Windermere Market might have hit its height in 2^nd qtr of 2022. Windermere market is experiencing a massive inventory issue. Closed units year to year dropped a staggering 333 in2021 to only 196 in 2022 a 41% drop ! Still year to year 34786 experienced double digit increases in all 4 major market metrics.

In  2021 76 homes closed over 1m price point, and 24 over 2m… highest closing clocking in at 5.9m. In 2022 3^rd quarter recorded 53 homes over 1m and only 15 over 2m, highest topping off at 5.6m…. yet we experienced significant increases year to year in all categories.

When You compare this 3^rd Qtr to the height of the 2^nd Qtr 2022 of $1,034,000 average and $306/ ft  3^rd  quarter numbers retracted 7% and 5% respectfully.  This is the first retraction we have experienced in many years in 34786 and could be a sign of the market surrendering to the recession, inflation, stock market and massive run up in interest rates.

The single-family market also increased on all 4 metrics from 2021 but at a lower clip of 7% on average sale price and 15% on $/ft from 2021. These numbers are getting so high that even at 7% the average home in 34786 rose over $28,000 in property value !

When you compare 3^rd Qtr to the record-breaking 2^nd  of 2022, we saw a decrease of 34% in closed units and we dropped 12% from the $1,200,000 average sale price and 8% off the average 306 $/ft. When you do an RTR deep dive , there was a $10,000,000 and a 6m closed sale in 2^nd qtr which are skewing the numbers considerably.  With this said we still are witnessing a stalling of pricing. I don’t think when we break down 4^th qtr we will see the same type of double-digit decline… truly think that was just due to the data pool of really high record setting sale prices.