2017 Windermere Year Summary
Thank you for taking the time to read 2017 Windermere Year in Review, you will not find data like this broken down like this anywhere on the internet. I am a firm believer that knowledge is power and you get knowledge from accurate information. This is why Ron the Realtor’s clients are the most informed in the marketplace.
Windermere is where Ron’s family calls home and Ron has been currently ranked in the 25 in closed sales for the Windermere zipcode 34786.
Let’s dive right into it… these charts reflect all closed sales for a particular year derived directly from the Orlando Regional Realtor Associations Mid Florida MLS. Every year has 2 different charts, one for ALL units sold in Windermere Florida 34786 and one breaking down just single family homes sold.
This is done to show the overall state of the market for the zip code and then to examine the single family market on its own merit. This type of extra layer is crucial to understanding any local market, yet rarely do people take it down this far.
WHAT HAPPENED IN 2017...
The Windermere market was red hot in 2017 as RTR predicted in his 2016 year in review forecast. 2017 experienced a 10% jump in closed sales, a 6.4% increase in average closed sale price and a 2.6% jump in MEDIAN closed sale price… homes sold 6.6% faster than in 2016 too!
Read on to get more in-depth analysis…
2017 Windermere Closed sales
Ron the Realtor ALWAYS breaks down the numbers a step further because while in the same area townhomes and single-family homes are worlds apart in the real estate market and need to be addressed separately. You see all major news organizations and press releases will always go off the entire market as a whole. It makes sense they can not dive into it like this for every zip code in the country it would be overwhelming. THIS IS WHY WHEN RELYING ON A REALTOR YOU NEED A LOCAL EXPERT. One that knows what is truly going on and where the market is heading.
When you break down the Windermere single-family market you really understand why RTR is such an advocate of going the extra mile. You will also understand why he not only posts the AVERAGE but also the MEDIAN of each time period. Both represent 2 totally different aspects of the same market.
Let’s take a look at the numbers for 2017 in the single-family home market of Windermere…
2017 Windermere Single Family closed sales
When you break out and eliminate the lower end multifamily you can see the numbers improve drastically. The average sale price jumped 9.7 % and $/ft 5% in one year! That would be a great headline for anyone other than Ron the Realtor…
You ready…This is why you read these ramblings…. here are the boots on the ground analysis of the numbers… the numbers have shot up because in the last year 30 homes sold and closed over 2 million and 12 of those were over 3m and 2 of those were over 5 MILLION!
RTR went back … in 2016 18 homes closed over 2 M and none broke the 5 M line…
What does this mean? Means exactly what it looks like… the ultra high-end market is back and rolling strong. The record stock market and the constant quarter after quarter increases in GDP and manufacturing reports are providing the mechanism to create more wealth and in turn, boost the luxury real estate market across the nation.
THIS IS WHY I ALSO BREAK DOWN MEDIAN SALE PRICES! You have 2-5 M for your new home? (if so call RTR today…), the answer for most of the readers of this publication is an astounding NO. This is why the median is crucial to grasp what is really going on… In 2017 the median single-family home for Windermere was an even $450,000, way different than the skewed average sale price of $682,169! When you break down the median you are breaking down a more accurate depiction of the market.
As you can recall from the 2016 Windermere year in review the Windermere market was relatively flat on the MLS, mainly due to the lack of new construction in the zip code. This year has seen a very strong boost in appreciation and $/ft increase.
Here are the charts for 2016 and 2015 for your reference…
2016 Windermere Closed Sales
2016 Windermere Single Family Closed Sales
2015 Windermere Closed Sales
2015 Windermere Single Family Closed Sales
RTR’s preamble to the forecast…
Windermere will always be a sought after to call home for anyone in Central Florida. The lack of available land has driven the small developments that are selling new homes well above 800k in sale price. The Winter Garden area directly to the west is completely opposite with massive swaths of land being developed at an unprecedented pace. The Winter Garden area has definitely lured many would be Windermere buyers “out west” for newer and more energy efficient home built to suit with as little as 5% down.
As the urban sprawl continues and traffic starts to impact the commute of many the Windermere area will have a lot of focus on it in the years to come. You really have to understand what all these numbers and charts above really represent, unless it is a brand new home from dirt each sale not only represents a buyer but a family that is moving as well. Many that live in Windermere are not leaving Windermere and as you can see the prices have shot up significantly over last 12 months. As time continues to move forward many of these Windermere owners will sell when they do they will be selling at higher numbers than even today.
Many of the older homes on the larger lots with majestic trees are also seeing major renovations in the Windermere area. This only further proves that the future looks very good for property values in the Windermere.
Plus we have not even discussed the famed Butler Chain of Lakes, they are not building anymore lakefront land in the area…and this is some of the most coveted dirt in Central Florida. This amazing natural resource of 11 freshwater lakes is what has made Windermere so desirable from day one. It is also the solid foundation of all property values in the zip code.
After all that here it is, what everyone wants to know. What does the #1 REMAX Realtor in Florida predict for the zip code he calls home.
Another 8-10% jump in average sale price… reasoning, the economy is still a rocket ship, President Trump is growing consumer confidence with every deregulation and policy change he has implemented. The luxury market will see massive growth and would not be surprised if for the 2018 year in review we are counting 60-75 over 2M homes closed in one year. I also believe we will break the 6M barrier in 2018 on one if not 2 of the amazing homes on the Butler Chain.
The Median sale price will also continue to rise, RTR predicts 4.5% increase in Median sale price for 2017.
There is a significant shortage of available inventory in the Windermere area, this will not be eased in 2018.
This will directly cause the average days on market to drop by at least 7 days, could easily be 10.
So nothing but blue skies for the immediate future. If you are considering Windermere to call your home call Ron the Realtor anytime to get a list of available houses and more importantly solid advice from one of the top Realtors in the country.
Curious what your home is worth? Call or email Ron today for an accurate assessment.
Thank you for taking the time to gain the knowledge.
Ron’s phone is always on if you need anything.
God Bless our troops overseas and the family they have left behind. I for one will never forget that FREEDOM IS NEVER FREE and my family thanks you for your service and sacrifice.