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.