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Winter Park Real Estate Market Sales Graphs

The following graphs show the recent market conditions. Although the graphs are for all of Grand County, Winter Park is the major component of that market.

This first graph shows sales (Sold Listings) for the past 24 months. There is definitely a trend toward less listings being sold.

The second graph shows that the number of listings has increased and gone over 2000 for the first time ever.

The third graph shows the months of inventory on the market. While this graph (as well as the others) varies seasonally, there is a disturbing trend toward more months of inventory available.

Winter Park Real Estate Sales Continue to Lag Behind Last Year

Winter Park real estate sales continue to fall behind last year through July. For the month, total sales were 41% lower than last year. While total sales for the year are still ahead of last year, that lead has declined substantially since the Intrawest Village at Winter Park completed the bulk of its sales in April. Total Sales are off almost $20 million, or 38% for the last three months.

Residential (which includes homes & Townhomes) Total Sales is down 50% for the month and 33% for the year. The Number of Sold Listings is down 34% for the year while the Median Sales Price is down 5% for the same period comparison.

Condominium Total Sales is down 41% for the month of July but it is still ahead of last year by 125%. Significantly, Total Sales for the last three months are down 51% and the Number of Sold Listings are down 45%.

Vacant Land Total Sales were actually ahead for July by 5%, driven by a couple of big sales. Number of Sold Listings was down 77% and is down 66% for the year.

With nothing to change the current trend, and the National Forecast weak, it is likely that real estate sales in the Winter Park area will continue to languish for the foreseeable future. Prices are holding up but the number of sales is decreasing. We have seen a number of price decreases on individual listings recently and while this is common at the end of the summer, it would seem that there are more than usual. It will be interesting to see if this has any effect on the market.
A full copy of the Winter Park Real Estate 2008 Year-to-Date Report is available by emailing me at WinterParkRealEstate.net. You can always see all the MLS listings at PaulLewis.net.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Total Sales Still Ahead for the Year to Date although May sales are down 25%

Total Sales through the first 5 months of the year are up 59.3% compared to the same period last year with number of properties sold up 32%. The median price was up significantly, from $299,900 to $395,500. Condominiums continue to be the strongest segment with sales up 241.8% while Residential is down 32.3% and Vacant Land is down 26%. The median sale price is up for Condominiums (+44.6%) and Vacant Land (+21.5%) while it is down for Residential (-4.6%).

The month of May itself shows number of sales down in all segments. There were no Vacant Land Sales this year compared to 5 last year. Total Sales for Condominiums was actually up as the Median Sales Price increased 63% whereas Residential was lower by $55,000 or 11%.

May is one of the less significant months for Sales so it is hard to make any predictions based on this month’s activity. For the year, we continue to see significantly less sales in Residential and Vacant Land, as each has had 4 months with lower sales and only one month with higher sales. Condominium sales have been consistently ahead of last year in all 5 months. The summer selling season is about to start and it is still a question mark whether interest in the Winter Park market can overcome the counteractions of the national real estate situation and the economy.

A full copy of the Winter Park Real Estate 2008 Year-to-Date Report is available by emailing me at Paul@PaulLewis.net. You can always see all the MLS listings at http://www.paullewis.net/.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate Sales Remain Strong through 1st Four Months of 2008

At the end of April, total real estate sales in the Winter Park area year-to-date were 80% higher than for the same period in 2007. This strong showing is in no small part due to the new condominium sales at the Village at Winter Park by Intrawest. The total number of properties sold is up 44% and the median price is up 32%.

Of the three segments that make up the total, Condominiums continues to lead with a fourth straight month of increased comparable sales for a year-to-date increase of 283% compared to 2007. April saw a much lower volume than March and 2/3 of sales were by Intrawest, meaning that other condominium sales were actually down compared to April 2007. Sales prices remain high with a median price of $377,000, a 45% increase over a year ago. The actual number of units sold decreased by 20% for the month.

Residential (houses & townhomes) sales continue to be weak, down $11,177,780 or 32% through April, with number of properties sold down 45% and the median price off $24,635 or almost 5%. April itself was not a good month with the number of sales less than ½ of last year, although the median price did rise 24%.

Vacant Land sales for the month were ahead of last year for the first time this year, with the number of sales double last year. This was on very small volume ($1,367,750 on 6 sales) but it was also the busiest month of the year so far. Year-to-date sales are still down 26% with number of sales down 40% and the median price up 22%. Note that last year’s Vacant Land sales for April had included one sale for $15,000,000 which has since been reclassified as a commercial sale and is not included in these statistics.

It will be interesting going into the summer. So far, even without the Intrawest sales, prices continue to be relatively strong while the number of sales continues to be weak. This is a market condition that is unlikely to continue - if the number of sales does not increase, there will be increasing pressure on prices.

A full copy of the Winter Park Real Estate 2008 Year-to-Date Report is available by emailing me at Paul@PaulLewis.net. You can always see all the MLS listings at http://www.paullewis.net/.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

First Quarter Sales Skyrocket Thanks to Intrawest’s Village at Winter Park Project.

Sales for the first quarter of 2008 were up over 112% compared to the same period last year. A little over $90 million was closed this year, up from $47 million last year. 2/3 of the sales this year were from Intrawest’s 2 new buildings, Fraser Crossing and Founders Pointe, where 133 units have closed for over $60 million. This has increased Condominium sales to five times what they were for the first quarter last year. The other Segments, Residential and Vacant Land, were not as fortunate, with decreases in sales of 31% and 51% respectively for the first quarter.

For the month of March, Total Sales were up 200% compared to the same month last year. The Condominium segment (including Intrawest sales) saw closings of 85 units this year compared to only 12 last year. Residential sales slipped from 18 last year to 5 this year and Vacant Land dropped from 8 last year to 3 this year.

The upcoming second quarter is traditionally the lightest quarter of the year. It will be interesting to see the results as the bulk of the Village at Winter Park sales have now closed and there should not be any effect on the second quarter sales.

A full copy of the Winter Park Real Estate 2008 Year-to-Date Report is available by emailing me at Paul@PaulLewis.net. You can always see all the MLS listings at http://www.paullewis.net/.

These statistics were compiled from data from the Grand County Board of Realtors and is deemed reliable but cannot be guaranteed.

Winter Park Real Estate Sales Ahead of Last Year With Intrawest’s Help

For the first two months of 2008, Winter Park real estate sales are up 169%, mostly due to the sales at Founders Pointe & Fraser Crossing in Intrawest’s new Village at Winter Park. Total sales of Residential, Condominiums and Vacant Land went from $29,618,787 in 2007 to $51,106,959 in 2008. There were large increases in the number of units sold, which grew by 44% and the median price, which went up 31.9%
In the individual segments, only Condominiums saw any increase and this was only because of the Intrawest sales that totaled almost $30 million for the two months. Total Condominium sales were $36,062,200 compared to $10,971,773 in 2007, an increase of 337%.
Residential Sales were down 15.2% from the previous year, $14,061,259 compared to $16,581,358 in 2007. Also significant is that the median sales price was down $24,635 or 4.6%.
Vacant Land sales also continued it’s slide from last year with Dollar Volume down 52.4% from $2,065,656 to $983,500. While the number of lots sold decreased significantly, the median price rose $41,500 or 21.5%.
While it is certainly good to see the Intrawest sales, the data clearly shows a weak re-sale market. There is usually an increase in activity following the holidays but this year that is taking longer to happen.
The next few months will continue the strong overall trend as Intrawest still has over half of their completed units to close during this time period. Local Realtors are also reporting an increase in traffic in the last couple of weeks.
More information on Winter Park and current listings for the Grand County MLS can be found on http://www.paullewis.net/. If you would like a full copy of the data for this report, please email Paul Lewis at Paul@PaulLewis.net.

Statistics are from the Grand County MLS and are deemed reliable but not verified.