2024 Winter Garden Year Summary
Welcome to a report a year in the making. Excited to share all the data surrounding the Winter Garden housing market with you
Thank you for taking the time to read this report every year and being a part of the RTR ARMY.
After reading this you will have more information than most local Realtors. Here is the year-end market data derived from ORRA MFRMLS along with an in-depth analysis and breakdown from Ron the Realtor…. who has sold more homes in 34787 than any Realtor on the planet, proven fact.
Let’s get right into it….
WINTER GARDEN 2024 REAL ESTATE HIGHLIGHTS
646,528
NIL
266.85
1% Increase
47
10% Increase
575,000
NIL
Lets see if RTRs crystal ball still has “it”
It was a rare year when RTR was off.
No one could have predicted that even with the Fed cutting the rate, mortgage rates actually rose. This resulted in almost 50% fewer closed homes from 2023 to 2024. Sprinkle in a major hurricane, the biggest presidential election of our country’s history, and the largest spike in homeowners’ insurance premiums, and I am personally amazed we only remained flat year to year.
As always, let’s dive deeper than anywhere on the internet and concentrate on the Single-Family Winter Garden Market, excluding townhomes and condos.
WINTER GARDEN 2023 SINGLE FAMILY REAL ESTATE HIGHLIGHTS
$717,777
NIL
271.48
1% Increase
48
12% increase
636,450
NIL
2024 RTR Recap
Winter Garden continues to be a place thousands of families want to call home.
While we can’t tout a double-digit spike in sale price or $/ft we can take solace in the fact that all the metrics remained at these record levels without retraction in spite of all the negative factors converging on the economy in 2024. We need to keep in mind that the average closed sale price in 2020, just 4 years ago, was $433,197 and $/ft was $168.53. In 2024 it was $646,528 and $266.85…that’s 33% and 37% spikes in 4 short years and holding.
I would be remised if I did not point out the hundreds of homes that closed in the new construction arena not even posted on the ORRA MLS. If they were these numbers would all be much higher, the reality is that many new homes closed and funded, they sell for higher $/ft that resales of same size… it is an easy fact to agree on. This fact cannot be ignored when quantifying the 34787 real estate market and its future projections.
Let’s discuss the 2024 market activity in depth. What is most glaring is the 50% less units sold and closed from 2023. What will not be known unless I bring it up, in 2023 there were 3 closings over 4m and 1 over 3m. In 2024 the highest closed sale in 34787 was $2,700,000. 2024 had 21 homes sell over 2m to 2023’s 10.
This is important to dissect because 2024 finished “even” year to year with the lack of those 4 big, closed sales and 50% less closed volume. I personally think this is incredible news considering what other markets nationwide are reporting. To sound like a broken record, the 34787 mls data is not 100% encompassing, the new home sales are at record pace currently in the Horizons West area. New homes sell higher than resale homes PLUS new home purchases cost the buyer significantly more in closing costs due to the title insurance and documentary stamp responsibility that is actually a seller expense in the resale arena. No idea how the builders as a whole pulled this off decades ago, put that is a whole different topic.
RTR FINAL THOUGHTS
Winter Garden is an incredible market, one where I devoted more than half my life to selling. In fact, I have sold and closed more homes in the history of Winter Garden than any Realtor on the planet… Next closest in ranking is over $100,000,000 in closed volume behind me. I say this not to brag but to solidify I know the Winter Garden real estate market.
Winter Garden will remain a highly desirable place to call home. New infrastructure is continuously slated and being implemented. The school system is new and state of the art. Neighboring the largest employer in the state is always a positive as well.
The fact that Winter Garden “held its water” with an onslaught of negative outside factors speaks volumes. Speaking of volume, closing 50% less units in 2024 tells me loud and clear there is serious pent-up demand for the area. There will be a surge of active listings this spring and if interest rates can ease even slightly , we will see more buyers entering the market. I predict many of these buyers to actually be local move up byers, creating even more affordable opportunities as they list their existing smaller homes they have outgrown, but “stuck” ion because of their 3% interest rates.
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