HILLMA N HOMES | W I N T E R P A R K
Market Pulse
I
t's hard to believe we're already halfway through 2016. It's been a busy time of economic
growth despite the fluctuations in the global financial market, and the existing housing
market in Orange and Seminole counties continue to show resiliency and upward
momentum. As we look ahead, I wanted to analyze some key figures over the same period a
year ago and found both higher prices and the number of homes sold in our area.
In the 3rd quarter of 2016, Single Family Homes in Orange and Seminole counties both experienced
sizable increases in Median Sales Price of 10.9% and 13.6%, respectively, compared to the same
quarter of last year. Although the housing market has continued to consistently strengthen over the
past 5 years, prices are still roughly 12% lower than pre-recession highs, on average. Housing also
remains affordable for first-time buyers, especially Millennials. According to the affordability index,
Metro Orlando is 4.8 on a 10-point scale. Cash continue to be the trend, accounting for nearly a
third of all sales.
While New Listings in
Winter Park appear to
be declining, Median
Single Family Home
prices have continued
to increase, reaching
pre-recession levels.
Closed Unit Sales
remained relatively flat,
while the higher home
prices in the area are
reflected in a substantial
increase in Total Closed
Dollar Volume.
By Scott Hillman
Winter Park (32789) Single Family Home
11-Year Trending Third Quarter Market Activity
Winter Park (32789) Single Family Home
Third Quarter Closed Unit Sales & Closed Dollar Volume
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