2nd Quarter 2018 Summary
Windermere Market Report
Welcome to the only place on the web that beaks down Windermere Florida, zip code 34786, real estate market to this level each and every quarter for well over the last decade. All the data is directly obtained from ORRA MLS and is analyzed by long time Windermere resident, Ron the Realtor. Ron is currently the #1 Remax Realtor in the Entire STATE OF FLORIDA, ranked number 3 in closed volume in ALL ORANGE COUNTY year to date and is SW ORLANDO Realtor of the Year.
Increase Median Sale Price
3% Increase In Sale Price
73 Day Average Day On Market
In the next 10 minutes, you will have more information and grasp of the Windermere real estate market than most full-time Realtors in the area. Well unless they read this market report, which many do… Like my idol Nikola Tesla, I give information and knowledge for free. The more everyone knows, the better the market becomes.
Let’s get on with it…
Here is a break down of the 2nd quarter Windermere real estate market, this first table is EVERY UNIT sold and closed in the 2nd quarter… ADOM is average days on market, CDOM is continuous days on market, everything else should be self-explanatory..
2nd Quarter 2018… Windermere, Florida 34786
While the entire market is important, it is equally important to look at single family residences separately in my opinion.. this level of breakdown is crucial for predicting market trends and is why Ron is always way ahead of the curve on predictions and is so accurate for last 2 decades that many ask where he hides his crystal ball…
2nd Quarter 2018… single family homes Windermere, Florida 34786
For ease of comparison, here is a break down of 2018 1st Quarter, both tables..
1st Quarter 2018…Windermere, Florida 34786
1st Quarter 2018 single family homes… Windermere, Florida 34786
From 1st Quarter to 2nd Quarter:
Windermere Average closed sale price INCREASED… it, in fact, rose 3% from the 1st Quarter!
The average closed $/ft Down 1.7%
Windermere Median closed sale price INCREASED 17% from the 1st Quarter!
73 Day Average Day On Market 27% Improvement
As predicted numbers jumped from 1st to 2nd quarter, which was an easy prediction… the 2nd quarter is a hotter real estate quarter with almost 30% higher closed volume. What was amazing to see was the MASSIVE SPIKE in MEDIAN SALE PRICE up 17% and days on market at 27 %, which in the real world equated to $69,000 jump in median sale price and 27 day sold improvement… these are massive. The average sale price also jumped up 3% which is amazing for just 3 month period.
Average and median $/ft slid almost 2%. This is due to larger homes being sold in the 2nd quarter, the larger the home, less the $/ft typically. Nothing to be alarmed about.
What needs to be highlighted is that homes are selling in Windermere. It is a very high demand area, always has been. Offering established communities, many oversized lots and gated communities. Let’s not forget the Butler Chain of Lakes and the most prestigious manned gated communities in Central Florida, like Isleworth and Lake Butler Sound.
Homes are selling almost an entire MONTH faster than just last quarter and selling at higher prices.
In 2nd quarter 3 homes sold over $5,000,000 including the highest sale, 5536 Isleworth Country club, that was on market an astounding 875 days ! the data still showed a 27 days improvement with this elephant on the books, Priced at $15,000,000, the seller closed at $7,189,333.
Look below at the 2017 data tables, at close comparison the market is flat from 2017 to 2nd quarter of 2018 with less than 2% increase in average sale price and median sale price even slimmer. The average days on market is what really sticks out with 25% increase.
2017 single family homes
RTR MARKET PREDICTION
Windermere is always in high demand, the Butler Chain of Lakes, Downtown area with no HOA and all the gated communities are what higher end buyers always look for. The renovating of the older dated homes is evident on many streets with dumpsters in the driveway. This only further helps the future values as many of the dated homes which are selling low today will be back on at significantly higher prices in the future.
Windermere has been losing many 400-600k buyers to the neighbor to the west Winter Garden, which anyone who reads these reports ..knows is en Fuego with construction and demand. The one thing that Winter Garden new construction cannot deliver is gated communities, oversized lots and the mature landscaping of the established neighborhoods.
The jump in interest rates over the last 6 months has also impacted the luxury market in the area, Rates are hovering at 5% when a year ago they were at 4%ish. This is a big impact on the monthly payment, and in Windermere, the average single-family sale price is approaching $700,000!
By years end we will be seeing a nice increase in average sale price from 2017. 4-5% should be expected but would not be shocked to see5.5% or even 6% by end of 4th quarter. The days on market will remain improved, we will not see another 27% improvement but I can see that days on market get shaved another 3-4 days in the 3rd quarter break down.
Windermere is and has been a place to call home. Ron’s family does as well. If you are considering Windermere for your next move call and let’s discuss all the options in your price range. If looking to sell and cash out on this hot market, no one delivers higher sale prices and faster closing times than RTR… proven year after year.
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407 592 SOLD
Thank you for taking the time to read my blog. If you have any specific questions or want to buy/sell … my phone and email are always the best way to reach me day or night.
Have a great day.
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