3RD QTR 2022
You will not find this type of analysis of the Winter Garden real estate market anywhere else on the planet !
3rd Quarter 2022 Winter Garden Highlights
3rd Quarter 2021 Winter Garden 34787
Winter Garden continues its upward trajectory at a neck snapping pace when analyzing all major metrics from 3rd qtr 2021 except one… UNITS SOLD. Year to year we have seen a significant drop of over 30% from 701 units sold to only 485 units in 2022. This sharp decline in inventory skyrocketed average sale price and dollar per foot … but the average days on market went from 14 in 2021s covid migration rush to a still amazing 19 days on market in 2022, during the midst of a national recession and interest rates doubling.
Lets take it a step further and break the Winter Garden single family market down:
1st Quarter 2022 Winter Garden Single-Family housing market
3rd Quarter 2021 Winter Garden Single Family Only
Market Forcast RTR Insights
This will most likely go down as the height of the Winter Garden market. A self-induced recession due to the massive printing of money and horrendous domestic and foreign policies of the current administration has taken its toll. The interest rates are almost double what they were a year ago and prices in Winter Garden have climbed almost 25% in same time period, Something has to give and it doesn’t appear to be interest rates anytime soon.
Doing an even deeper dive and looking at the 2nd qtr 2022 o 3rd Qtr 2022, we are seeing the first retraction of Average Sale Price and $/ ft in many years… Quarter to Quarter. It is not a significant change … $631,000 in 2nd qtr to $625,000 3rd qtr (1% drop) , but we have been achieving 2% increases compounded Qtr after Qtr for last 12 months. One interesting point to highlight is the $/ft still Rose 2% Qtr to Qtr going from $254 / ft to $262/ft
Investors are not able to purchase units, giving owner-occupants a shot for the first time at affordable housing in the area. This is great but they are few and far between.
The move-up buyers are electing to keep the existing home as a rental knowing they will never duplicate their 2-3% Interest rates they refinanced into. Rents are at all-time high and the profit margins are amazing. This is causing a perfect storm and even further hurting the active inventory.
Prices in Winter Garden are not going to go down significantly… this past week has proven once again how amazing of an area geographically Winter Garden is in the avoidance of major hurricanes. I have lived here for 26 years and have not once lost power or had any Significant damage to speak of.
Cost of construction continues to rise, the infrastructure in the area is improving with even more shopping and restaurant choices by the month and new schools are opening every calendar year.
Winter Garden had 40 homes sell over $1,000,000 and 6 over 2m in just this Qtr ! * There are 6 currently pending on mls over 2m .. 4 of which are close or over 3m price tag set to close in 4th quarter too.
Winter Garden will continue to outpace the National and even Local markets as it has since I started selling and living there 26 years ago.
People still need to buy and sell homes regardless of interest rates. Winter Garden is now on the map of desired places to live in the State of Florida.
Call me to discuss amazing loan programs to combat the higher rates and keep more money in your pocket every month. The RTR ARMY always wins.
God Bless our troops serving overseas and the families they leave behind. I will never forget that FREEDOM IS NEVER FREE. Thank you for your sacrifices.