Windermere Market Report
Welcome to the only place on the web that breaks down Windermere Florida 34786 real estate market to this level each and every quarter for well over the past decade. All the data here is derived from the ORRA MLS and deemed reliable. It has been analyzed by longtime Windermere resident Ron the Realtor. Ron is the #1 Remax Realtor in the entire State of Florida for THREE CONSECUTIVE YEARS and is currently number 4 in closed volume HISTORY for Orange County in the entire ORRA MLS.
Thank you for taking a few minutes to read the Ron the Realtor Windermere 1st quarter Market Year in Review. As RTR has been doing for the last 16 years… he provides a quarterly report and a full-blown end of the year in review report to anyone that wants to read it. No subscription, no registration of our email… anyone can read it, even competing Realtors…who does that? Ron has always believed, knowledge is power.
2020 1st Qtr comparison VS All of 2019
WOW, what the 1st quarter for our country. Even with a pandemic lockdown, Windermere managed to close 5 more units that in 2018 1st quarter, still sold a $3.8m home and experienced an 8% JUMP in MEDIAN SALE Price.
The average days on market spiked but as you can see on the tables this quarter had one property close with 1,172 CDOM, this is one of the reasons you read this quarterly report, RTR sees through the b.s. and the flaws to apply real analysis to the numbers.
Flat average sale price and $/ft numbers are something we have been seeing in the Windermere market for the past 4 quarters in 2018 to 2017 analysis. This really is not anything to worry about, it is due to the fact the 34786 is one of the top 2 highest zip codes in Central Florida, also one of the most desirable. With being at the top of the heap, you will never see massive spikes in property values, what you see is stability in the Windermere property values.
The 8% spike in the median price is a great indicator in the overall demand in the area is trending to higher-priced homes. The lower prices in the community are being much more difficult to obtain. This is why MEDIAN SALE prices rise and the main reason it is one of my key 4 factors when analyzing any real estate market.
Single-Family Homes 1st Quarter 2019 Winter Garden
In typical RTR fashion let us dive even deeper into the local market and get the data not found anywhere on the internet… let us break down the single-family home market of Windermere, which is different from the multifamily market. Including the multi-family market in the mix with the lakefront estates, manned gated communities and established tree line neighborhoods of Windermere really skews the data.
RTR MARKET PREDICTION
Most jump right here and rightfully so. What does one of the top Realtor in Windermeres storied history and the #1 Realtor for 3 years in a row in the State for largest real estate companies in the world have to say in these unprecedented times?
What is in store in the coming days, weeks, months?
- Short term, we will see the worst 2nd quarter in terms of all 4 categories we track here. We will also see the lowest units pending and closed. Sadly the third quarter will most likely see a decline as well, continuing through all the way until the election. The results of the election will determine the protection and speed of the recovery. A lot of Windermere’s success is tied to the stock market when it goes up the luxury market which comprises most of Windermere goes up ($726,000 ave sale price !).
- Long Term, Windermere will be fine but it will take some time to get back to the upward trend we have all enjoyed on property values. The Market will bounce back and demand will be even higher as those from other parts of the state with signicantly higher taxes, cost of living and housing values push many to the sunshine state. The weather will always be a draw to those young and old. For the Wealthy, no state income tax and the homestead exemption are extremely attractive.
BOOTS ON THE GROUND
- Appraisals are coming in low for the first time in over 10 years. Out of the last 4 appraisals completed 3 fell short and 2 fell short by quite a lot, never seen this in my career.
- Interest rates while low are creeping up from the lowest ever on record. More concerning is that loan criteria are drastically tightening. Higher down payments and credit scores are the new benchmark. Significantly lower debt to income ratios as well. We are seeing thousands of potential buyers that would have qualified a month ago, not even be in contention now with these new requirements.These 2 observations not reported in the news yet will have significant downward pressure on the current housing market. Those that need to sell will take less, creating new baselines for appraisals for 6 months to come.Never seen this in my 23 years, overnight the entire market has flopped from seller to buyer.
- It is an amazing time to be a buyer. Windermere is one of the greatest places in the country to call home. This will NEVER change. The only positive to all of this is that housing will almost undoubtedly become more affordable for more people.
- As a Seller, the gravy train has stopped, sadly once again (seems like every 10 years almost ). The sellers that will sell are the ones that will offer a fair price and not test the market. There will be a new wave of short sales in the coming years from the massive job loss. As in 2007, the court system will be played and basically mocked as defaulting homeowners will seek the attorneys that have mastered the craft of kicking the foreclosure date down the street. I truly hope the banks fix the short sale process, they were anything but short that is for sure.
Now more than ever the Realtor you select to represent your family will be the difference between selling and for sale. In these uncertain times, the only thing certain is that Ron the Realtor is here when you need him.
"Thank you for taking the time out of your day to gain some insight on the local Windermere market that my family personally calls home. I am so blessed to have helped so many families spanning over 2 decades in the area. Earning the #1 Remax Realtor in the entire State of Florida a third consecutive year, voted the Best of Southwest Realtor for FIVE CONSECUTIVE YEARS and named to the Orlando Magazines HOT 100 for the 14th year in a row. I just want to thank everyone in the RTR army for allowing me the honor to represent and fight for your family. Thanks to your confidence in my abilities I am able to be one of the very few that can say I love what I do every day.
God Bless our troops overseas and the families they leave behind. I will never forget that FREEDOM IS NEVER FREE. My family thanks you for your sacrifice."
THE HARDER YOU WORK, THE LUCKIER YOU GET