Lake Mary Real Estate Market Update:  October 31st , 2009

Real estate in Lake Mary showed a surprising increase in value over the month of September by 17%. The average property in October sold for $267,332 compared to $228,118 in September and compared to last year there was only a slight decrease of value by 8%. Lake Mary Real Estate is weathering the real estate challenges better compared to other area of Greater Orlando. Lake Mary Real Estate is offering some of the best real estate buys…

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Did You Know?

Lake Mary was named after Major William Randolph’s wife.

Voted as one of the best places to live a few years ago by CNN, Lake Mary is a great place to live and work. With lots of trees and landscaping , public tennis courts, baseball fields, walking, and biking trails, it is also known as the high tech corridor for Seminole County. Because many corporate home offices like AAA, Ruth Chris Steak House, AT&T, CMIT Solutions, CNL Bank, Convergys, EMBARQ and many other computer software companies.

Lake Mary also offers some great hotel accommodations such as the Courtyard by Marriott Lake Mary, The Marriott Orlando North Hotel, The Hyatt Place, Hampton Suite, Candlewood Suites, La Quinta Inn, Hilton Garden Inn and a brand new Westin Hotel to be opened shortly.

Lake Mary also has some great parks, libraries, quaint downtown, and sought after schools, such as Lake Mary Elementary school, Greenwood Lakes Middle school and Lake Mary High School that are all highly ranked and there are plenty of fine and family restaurants, shopping and a YMCA.

Also Lake Mary’s home prices have been relatively stable over the past year but we are now seeing an increase in real estate sales of single family homes, condos, and town homes over the same time last year of 21% but equally we have seen a decrease in values of 21% for single family homes and 30% of condos and townhomes. By far the decrease in property values is driven by the sharp decrease in condo values especially in such developments as Regency Park and Nottinghill were values have dropped by 60% plus. Currently there are 410 single family homes and 185 condos for sale or a 15 month supply of unsold homes.

Long term the Lake Mary Property values are going to be strong and will rebound faster compared to other areas in Central Florida and some of the great subdivisions in Lake Mary are Greenwood Lakes, Heathrow which offers a golf course, clubs house, tennis center soccer field and condos, single family homes and town homes. Heathrow Woods which is part of Heathrow is a separate gated area with superb upscale luxury homes and mansion situated on over sized one acre lots. Chase Groves also offers town homes and single family homes some are on the lake; Timacuan is a beautiful golf community with a club house and well maintained homes and well as newer town home.

More Lake Mary Subdivision Real Estate Areas:

Egrets Landing, Crossing, Magnolia Plantation, Banyon Point, Crystal Lakes, Carisbrooke, Colony Cove, Lake Mary Woods, East Camden, Eagle Creek, Evansdale, Hills of Lake Mary, Huntington, Island Club, Lakewood, Manderly, Tuscany at Lake Mary, Woodbridge Lakes, Hanover Woods.

Some of these developments offer a championship golf course are man gated and have club house activities, tennis and a community pool. Lake Mary is centrally located on the North East side of Orlando off I-4, 3o minute ride to Orlando and 45 minutes to the famous Daytona Beach and New Smyrna Beaches. Disney is just 45 minutes away by I-4 or the Orlando Greenway Beltway 417.

Heathrow is great area that is located inside of Lake Mary that many don’t know about but offers plenty of real estate a luxury gated golf community with about 3000 homes, town homes, condos, and luxury mansion which are separately located in Heathrow Woods. Home prices range form $250,000 to $5M. The 18-hole "Heathrow" course at the Heathrow Country Club facility in Heathrow, Florida features 6,900 yards of golf from the longest tees for a par of 72. The course rating is 73.8 and it has a slope rating of 131. There is also a community pool and a tennis court of 10 Soft courts and a competitive tennis program as well as a large fitness center and a soccer field. Heathrow real estate is surrounded by a high tech office corridor and lots of dining and shopping opportunities as well as easy access to down town Orlando and the famous Daytona Beaches.

Heathrow is divided by several villages such as Keenwicke, Devon Green, Lakeside, Cherry Ridge, Club side, Breckenridge Heights.