2017 Winter Garden Year Summary
A year in the making !
Welcome to the only place to get an accurate break down of the Winter Garden market and in-depth analysis from Winter Gardens TOP SELLING REALTOR. You will not find this much data regarding Winter Garden anywhere else. As you probably are aware, Ron the Realtor sells more homes in zip code 34787 than anyone in America… 2017 was no different, RTR sold and closed more homes than anyone ! Even beating all the major national home builders !Winter Garden remains RED HOT, with no stop in sight. Never been a better time in Winter Gardens long history.
The biggest news, non-real estate market related, has to be the opening of the New Windermere High School. The development in the Horizons West corridor is at unprecedented growth and the commercial and retail is starting to break ground starting with the new movie theatre. Publix opened its doors in Horizons West in 2017 as well.
Downtown Historical District has seen the highest property values in its history, the Saturdays Farmers Market is gaining National Recognition and the area continues to open new restaurants and shops along brick paved Plant Street. The Winter Garden and Ocoee Development committees have also solidified a plan to revitalize and develop the area of Plant street east of Dillard all the way to Ocoee… The long-term plan is amazing and will only further benefit the area residents and improve their quality of life, while continuing to bring more businesses and jobs to the local community, truly a great job.
On the real estate front, it has never been more active… with 1,891 units sold and closed in 2017 that is 16% increase from 2016’s 1588. This is the most closed sales EVER RECORDED on the Orlando MLS…
1,891
Even with this historical level of sold homes, there is actually a major inventory shortage in the area that is not keeping up with current buyer demand. Driving up the prices of the resales in the area, the builders cannot build homes fast enough.
The Average days on market Dropped 13 days from 2016 to 2017… that’s a 2-week improvement, 19% decrease. I have never seen this level in my 20 years.
The basics of economics 101 is supply and demand … and it is being proven in Winter Garden over the years.
2017 was no different than 2016 in AVERAGE SALE PRICE Appreciation… 2016 Winter Garden experienced a 7.6% increase in Average Sale Price… In 2017 7.9%
Where 2017 really kicked it up another level was in $/ft with an 8.4% jump, where the 2015-2016 jump was only 1.6% increase. Also as stated before the average days on market drastically improved 19%.
Let’s take a look at the charts from year to year…
2017 Solds Winter Garden, Fl 34787
2016 solds Winter Garden,Fl 34787
Wanted to also go back 5 years run the numbers to just 5 years ago … because it is pretty remarkable.
2012 SOLDS Winter Garden, Fl 34787
The market improvement is just amazing.
What does this all mean?
I drive the streets of Winter Garden every day and know what the market is doing well before I run any MLS data. I do these reports to provide my clients with knowledge that they can not find anywhere else. I strive on ensuring my clients have the best information at their disposal easily to make informed decisions on their largest purchase or sale.
What this data shows the demand is very high for Winter Garden, but as I always do… I need to point out that you have to take the numbers, not at face value. I have been selling the area for 2 decades and many would not be aware that until recently NEW HOME CONSTRUCTION was not in the local MLS data. Even today the majority of the “DIRT SALES” are not recorded in the MLS. So this does not reflect the entire Winter Garden market and it is not something to rely on 100%.
OVER PAST 5 YEARS
In 2005 the MLS only has 770 closed sales, even creepier … 2006 … the year before the crash… 666 total closed sales… I kid you not, what kind of numerology foreshadowing is that !!!!!! Even in 2012 the market as a whole did not have the new home growth we have today but very little was listed on the MLS.
So please understand that there are even more closed sales than the 1,891 we are working with here. Also, keep in mind that newer homes typically sell for more money than resale homes. I would assume that the price gains for 2017 far exceeded the 7.9% calculated from these charts. I personally closed and sold well over 65 New homes In Winter Garden myself in 2017 !
RTR FORECAST
As I have done every year since 2005 with my first custom website version of RontheRealtor.com, before we even knew what a blog was… I was sending out my year in review to my client database and predicting what the next year holds. This year will be no different. I put this out there with a time stamp and all of my competitors can read it 24/7 as well.
In 2018 Winter Garden will experience growth that it has never seen in its history. The commercial and retail of Horizons West will be in full swing and by years end many new restaurants and shops, as well as the movie theatre, will be open for business. The new Florida Hospital on porter and 429 is also set to break ground and we are expecting the opening of the largest community sports complex in all Orange County as well.
Downtown Winter Garden might finally see the whole enchilada open its doors? (longest restaurant remodel I have ever witnessed ..lol) 3 new restaurants next to crooked can will also be open for business and the ultra-luxury townhomes on Plant St, Park Place of Winter Garden (listed by Kari Fleck of the real estate collection) will start to take shape and transform the Historical Downtown area landscape. Numerous new communities are also slated to open for sale around the Historical Downtown District including one I am very excited about from MI HOMES, affordable luxury townhomes, minutes walk from downtown Plant St.
320,500
Winter Garden will see unprecedented growth and appreciation in 2018… with more and more new home construction sales being recorded we will see a big jump up in $/ft and sale prices in 2018. I also would expect interest rates to start to rise, actually thought we would already be in the high 4’s?
RTR prediction…
8.8% average sale price appreciation with a $375,000 ish average closed sale price
Also, expect the median to rise by 7%
$ per foot will in turn also rise (not going out on a limb with this one)… labor and building costs, as well as land acquisition costs, are all steadily rising.
WHAT RTR needs is inventory… everything Ron is listing is selling at record numbers at a record pace. If you curious what your home is currently worth call today… there is a lot of fo demand for well cared for homes in Winter Garden under 500k right this minute.
I want to thank you for taking the time to read my year in review. If you have any questions regarding real estate send me an email, text or just call… I am truly the easiest man in America to find.
God Bless our troops overseas and the family they have left behind. I for one will never forget that FREEDOM IS NEVER FREE and my family thanks you for your service and sacrifice.
