Windermere Market Update for 2016

Finally have a chance to get some data to you regarding Windermere, zip code 34786. Take a few minutes to read through this and understand the thought process I apply to raw data to apply to real world market conditions and trends. It will be insightful I promise.

Below you will see 2 break downs, one is for all the sales of single family homes in Windermere, zip code 34786, from 1/1/15 to 12/31/15…

Status: Sold (743)
Beds Baths SqFt Heated List Price LP/SqFt Close Price SP/SqFt DTC DTCL ADOM CDOM SP/LP Ratio
Min 2 1 $199,000 $87.50 $202,000 $82.14 -235 -106 .5
Max 9 11 21,515 $16,500,000 $766.91 $8,250,000 $545.45 820 849 819 1,372 1.32
Avg 4 4 3,364 $662,864 $177.86 $618,993 $169.28 101 144 99 121 .96
Median 4 4 3,036 $444,950 $152.39 $430,000 $148.21 71 116 70 81 .97

This is every single home sold in 2015 in Windermere, zip code 34786, which totaled 743,  what we are looking for is the average and the median stats….when analyzing this type of data you also need to pay attention to the data parameters,.  for 2015 the price range went from 199,000 to 16,500,000. This is a massive swing, and an incorrect one… due to my intimate knowledge of the area, the 16,500,000 is a 8,250,000 sale, I have NO IDEA why it is being extracted as a 16m sale? it was inputted correctly in the mls BUT THIS IS A PERFECT EXAMPLE of why you need to use a local expert, not Pick your Realtor because they are a friend or family member or willing to give you a rebate…A true expert of the area could save you 10-20X that little commission rebate. I will include the 8.2 m closed sale at bottom of this blog post so you can see it, plus who does not want to see what the highest sale of the year looks like, right?

Here is what the MLS has on the books 1/1/16 to 4/25/16 (today) for Windermere single family solds, zip code 34786.

Status: Sold (190)
Beds Baths SqFt Heated List Price LP/SqFt Close Price SP/SqFt DTC DTCL ADOM CDOM SP/LP Ratio
Min 3 2 1,492 $239,000 $51.38 $239,000 $68.46 -11 .78
Max 8 8 7,463 $3,650,000 $591.61 $3,350,000 $537.83 937 969 897 2,586 1.33
Avg 4 4 3,487 $644,494 $172.13 $614,339 $164.48 126 175 122 154 .96
Median 4 4 3,204 $451,320 $149.12 $438,740 $143.90 83 132 75 88 .97

As you can see..the data pool is smaller , mainly due to only 4 months of closings registered (not even including this April end of month transactions)

the price range is also smaller $239,000 to 3,650,000

The average and median sale prices are down this year but the real world market is up in 34786….the  only indicator right now is that the lowest sale of the year is 40k more than the lowest sale recorded in 2015.

This sole stat is huge and outweighs all the others. you see the current market data is not even taken into account the hottest buying time of the year while 2015 stats obviously do. Also once the summer season is over in an increasing market such as Windermere 34786, the appraisers have easier time in the fall and winter obtaining the higher values, carrying the momentum into the new year.

This is why you can not buy a home in Windermere in 2016 under 250k right now… so while the laymen approach is to say the average and median prices are trending down for 2016… the reality is based on simple math and common sense… the 2016 data does not have a 16 million dollar mistake and even with that sale the averages are not that far off of 2016.

Why? because Windermere housing market is out of control right now… while winter garden, zip code 343787 , has more new construction options that its history, Windermere available land is scarce. If you want to live in Windermere your choices are buy resale and upgrade it or pay massive premium on very small lots to own brand new.

While many are driving their attentions to the hottest city in Central Florida, Windermere’s neighbor…Winter Garden. Windermere still is the place to be, and lets not forget about the famous Butler Chain of Lakes.  The concentration of million dollar estates is not rivaled anywhere in Central Florida.

MARKET PREDICTIONS

Interest rates are not going anywhere apparently anytime soon. Even further confusing me and my understanding on economics 101… but with that said, as the rules change you must adapt.

Windermere market is going to continue to be red hot the remainder of 2016 and in to 2017. The lack of large parcels of land make competition sparse and demand high, which will continue to drive prices.

As with the previous years, numerous older estates are being purchased and renovated for a profit, revitalizing the older communities and provided much needed high end comparable for appraisals that were lacking even a few years ago.

The butler chain of lakes has and always will be the place to be , with an acre of high and dry dirt fetching well over 1 million easily. If your interested in the lake front lifestyle call Ron, he has the best priced home on the chain for sale right now at 1.76 acres with a dock and 2000 sq ft block home right on lake down for 799k!

If thinking of buying in Windermere call Ron the Realtor, Ron calls Windermere home himself. You need a true expert to avoid over paying in this real estate property value rush. There are gems out there , you need to know where to look.

If looking to sell, there has never been a better time since 2006, and right now might even be better !

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