2016 is over and Winter Garden experienced above National Average Increases in Property values yet again !!!
I have been saying this one for over 15 years…. Winter Garden is gold.
With this said, Ron the Realtor is yet again the top selling Realtor in the COUNTRY in closed sales for Winter Garden zip code 34787 over the last 10 years…. and it is number one by over 20 million in closed sales !
When it comes time to buy or sell, why would you call anyone else?
Winter Garden is also experiencing some of the greatest growth in the Nation, with what seems to be a new community springing up every month. There have never been more choices for home buyers in the area, EVER.
The much needed Windermere High School opens its doors in the Fall, adding yet another jewel to this crown. A much-needed addition to the exploding area, I do not agree with it’s location but have to play the cards we are dealt in life, there are worse things to worry about for sure.
Winter Garden also broke the 2 Million dollar mark !!! With an amazing Estate selling on the shores of Johns Lake in the Deer Island Community for just over 2 million in 2016… this is pretty big news.
Let us get to the actual facts, the actual numbers derived directly from the Orlando Regional Realtor Association…. then as you have come to expect, Ron will break down the numbers for real world application. You will not see this type of break down anywhere else on the internet, and it is crucial to break them down like this to really decipher the actual market and where it is heading.
Lets go back to 2015 to see how 2016 ended up in comparison
The first tablet is every property sold in Winter Garden 34787 in 2015….using a Realtor.
Just over 1400 closed units, average sale price of $295,215 and average $117.27/ ft
| Status: Sold (1419) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 1 | 1 | $14,000 | $15.02 | $14,000 | $15.02 | -318 | -25 | .66 | ||||
| Max | 67 | 8 | 10,907 | $1,449,000 | $305.63 | $1,600,000 | $337.48 | 860 | 922 | 794 | 1,094 | 1.83 | |
| Avg | 4 | 3 | 2,482 | $302,861 | $120.29 | $295,215 | $117.27 | 71 | 114 | 67 | 74 | .98 | |
| Median | 4 | 3 | 2,340 | $289,000 | $119.75 | $280,000 | $116.47 | 42 | 91 | 42 | 44 | .98 | |
When you deduct the multifamily units and just focus on single family homes…
Winter Garden had almost 1200 closed single family homes, the average price jumps over 10% to $322,000 and $120.11/ ft
| Status: Sold (1187) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 2 | 1 | $23,000 | $24.15 | $23,000 | $24.64 | -318 | -25 | .66 | ||||
| Max | 67 | 8 | 10,907 | $1,449,000 | $305.63 | $1,600,000 | $337.48 | 860 | 922 | 794 | 794 | 1.83 | |
| Avg | 4 | 3 | 2,676 | $330,113 | $123.04 | $322,016 | $120.11 | 74 | 116 | 70 | 78 | .98 | |
| Median | 4 | 3 | 2,562 | $309,590 | $121.67 | $300,000 | $118.61 | 45 | 93 | 45 | 47 | .98 | |
Let’s compare the above charts with 2016 closed sales for Winter Garden Zip Code 34787
1583 closed units, almost 200 unit increase year over year (approx. 15% jump !) Average closed sale was $318,000 and $126.57 / ft…
Crushing the national averages across the board in all categories for percentages of increase. Quite remarkable.
| Status: Sold (1583) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 1 | 1 | 227 | $15,000 | $11.40 | $18,501 | $14.06 | -273 | -132 | .66 | |||
| Max | 8 | 10 | 7,573 | $2,490,000 | $1,383.22 | $2,050,000 | $1,374.41 | 1,326 | 1,023 | 1,325 | 1,412 | 1.57 | |
| Avg | 4 | 3 | 2,510 | $326,694 | $130.01 | $317,892 | $126.57 | 68 | 117 | 68 | 76 | .97 | |
| Median | 4 | 3 | 2,385 | $300,000 | $127.13 | $296,980 | $123.82 | 36 | 89 | 36 | 39 | .98 | |
When we focus on single family homes sold in 2016 in Winter Garden zip code 34787
We had 1300 homes sold with an average price of $344,000 and $128.63 / ft which equated to approx. 7% increase in values year over year. and 10% in increased units sold.
| Status: Sold (1326) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 2 | 1 | 227 | $15,000 | $11.40 | $18,501 | $14.06 | -273 | -132 | .71 | |||
| Max | 8 | 10 | 7,573 | $2,490,000 | $1,383.22 | $2,050,000 | $1,374.41 | 1,326 | 1,023 | 1,325 | 1,412 | 1.57 | |
| Avg | 4 | 3 | 2,701 | $353,598 | $131.97 | $344,219 | $128.63 | 70 | 119 | 71 | 80 | .98 | |
| Median | 4 | 3 | 2,590 | $323,074 | $127.77 | $318,750 | $124.70 | 36 | 90 | 37 | 41 | .98 | |
What does this mean?
Well, you do not need to be Nikola Tesla to figure it out…. Winter Garden is Red Hot… all the indicators are there, all the future projections are there and now the much needed infrastructure is rapidly being constructed and , you guessed it… will be there.
If you have not been in the Horizons West area in the last six months , you will not recognize it. With much more to come it is an exciting time for the area.
Consumer confidence is at an over 15 year high according to numerous national polls and even with the recent uptick in interest rates, they are still at historical lows. 2016’s average of 3.725% was the lowest annual average since the Fed started tracking interest rates in 1971!
With the rental rates continuing to climb and stock market at record levels… many are pulling out their profits and investing in SW Orlando real estate, offering hands on investments with monthly returns…
2017 is going to be one for the record books, even with all the new building in the area, there is a national shortage of housing inventory and with the rest of the nation experiencing tundra-like conditions, many are looking at Central Florida as the smart place to call home. No state income tax, well below national home values, homestead exemption and protection and of course NO SNOW.
The northeast saw a 5.7% increase in pending sales in the 4th quarter of 2016… the baby boomers are cashing out and coming to the sunshine state.
If interested in buying or selling Ron the Realtor is the local expert with 2 decades of experience and hundreds of millions in closed sales. No such thing as after hours, phone is always on 407 592 SOLD (7653)
