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.
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.
posted by Paul S. Lewis at 1:43 PM
