Winter Park located just a few miles north of down town Orlando, it is one of the most picturesque cities in central Florida with nice walking areas, side walk cafes, parks, golf, lakes and lots of history and very pricy real estate located admits the Winter Park pristine chain of lakes. The Winter Park real estate market is still far away from normal and speculators went wild during the 2004 and 2005 and many developments and large spec homes were built to satisfy the thirst for Florida’s real estate buyers.
Currently there are 944 properties for sale in Winter Park, just 20 less compared to last month, 609 are single family homes at the average price of $611,168, and 336 are condos and or villas and townhouses at the average price of $266,655. Not much has changed in the total inventory and the average prices over the prior month. 78 properties in all sold in October which is a 3 unit increase over September, 57 of which were single family homes at the average price of $611,168 and 20 condos and or villas were sold at the average price of $266,655.
The average price of all sold properties was $255,236 compared to $256,633 of the prior month only very slight drop in price, but over the same month of the prior year it was $266,341. The average sold condo price was $68,292, and when compared to the condo listing price of $266,655 there is a huge value disparity.
On a year to date basis the average value per sqf. has dropped by 25% over prior year from $177.00 last year to $125.00 this year. Sales increased by whopping 15 % over the 10 months period. The highest priced sale for October was 331 TRISMEN TER, WINTER PARK, Fl. 32789 which was a waterfront located luxury homes located on the shores of Lake Osceola located in the OSCEOLA SHORES subdivision which was listed for $2,395,000 and sold for $2,050,000 after 87 days on the market and it sold at 85% of market value. With 12.1 months of unsold inventory remaining, this area of Orlando remains to be challenged for many years. Prices will continue to be depressed as the bank owned and pre-foreclosure properties are driving the market.
Orlando Area Real Estate Search – Click here for Winter Park
As of the end of October there are 72 bank owned properties for sale in Winter Park, an increase of 5 homes, the highest priced home is 447 Genius Dr. Winter Park, Fl. 32789 listed for $1,309,000 in the Windsong subdivision and there are 271 short sales single family homes and or condos, an increase of 20 properties, the highest priced short sale is 931 Greentree Dr. Winter Park, Fl. 32789 it is listed at $2,495,000 in the Palmer Avenue Lakeside subdivision. Over 27 % of the inventory in Winter Park is in distress.
The subdivision with the highest sales were as follows:
4 WINTER PARK VILLAGE
3 CEDAR RIDGE
3 HIDDEN OAKS
3 WINDWARD
2 AUTUMN GLEN
2 BROOKSHIRE HEIGHTS
2 WINTER PARK GARDENS
2 WINTER PARK PINES
2 WOODCREST
1 ANNEBURY
1 CARVER TOWN
1 HOWELL BRANCH WOODS
1 CASA ALOMA
If you are looking to buy in Winter Park or if you are in foreclosure and want help to stop a foreclosure and need to do a short sale go to foreclosure and if you want to buy a foreclosure, where you will find MLS access.
