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2023 Winter Garden Year Summary

Welcome to a report a year in the making. Excited to share all the data surrounding the Winter Garden housing market with you

Thank you for taking the time to read this report every year and being a part of the RTR ARMY.

After reading this you will have more information than most local Realtors.  Here is the year-end market data derived from ORRA MFRMLS along with an in-depth analysis and breakdown from Ron the Realtor…. who has sold more homes in 34787 than any Realtor on the planet, proven fact.

Let’s get right into it….

WINTER GARDEN 2023 REAL ESTATE HIGHLIGHTS

639,896

Average Sale Price

5% Increase

278.43

ave $/ft

10% Increase

36

Average Days on Market

42%

570,000

Median Sale Price

3% Increase

Let’s start by rolling back to what RTR predicted in Jan 2023… compared to what really happened.

How did we fair from the RTR beginning of the year predictions?

RTR 2023 Winter Garden Real Estate Market Predictions

Predictions:

Forecast               Reality

Average Sale Price          $650,000             $639,896

Average $/ft                      $260                    $278.43

Median Sale Price            $600,000           $570,000

RTR NAILED IT AGAIN

Wow, that is pretty close and quite impressive for all the outside factors that affected real estate this year. Experience and understanding of the metric data matters and why you spend your time reading these reports.

 

Letes focus on the single-family market on its own…. this is the true market for the majority of the RTR ARMY and why I devote so much time scraping down to this layer for you.

WINTER GARDEN 2023 SINGLE FAMILY REAL ESTATE HIGHLIGHTS

705,616

Average Sale Price

3% Increase

265.27

ave $/ft

4% Increase

37

Average Days on Market

46% increase

632,990

Median Sale Price

$254.87 Increase

2023 RTR Recap

Winter Garden continues to hold its own in spite of high interest rates and record inflation numbers.   Winter Garden broke past the 700k average sale price for the first time in recorded history !  Even more impressive is the all-time high of $265.27 $/ft.
What is even more impressive is that in a year of historically low inventory 34787 experienced 1,505 single family closings, just a hair off the “bustling” 2022 1544 units.
I would be remised if I did not point out the hundreds of homes that closed in the new construction arena not even posted on the ORRA MLS. If they were these numbers would all be much higher, the reality is that many new homes closed and funded, they sell for higher $/ft that resales of same size… it is an easy fact to agree on.  This fact cannot be ignored when quantifying the 34787 real estate market and its future projections.
Let’s discuss the activity in 2023… Winter Garden experienced not 1 but 3 closed sales over $4,000,000.. one is a first let alone 3 !!! 10 homes closed over 2m and 147 homes closed over the 1m barrier. In 2022 2 homes closed over 3m, which was a record until 2023 and the highest was just over 3m at 3.2.
The Winter Garden market has been a little spoiled since 2020 with B2B2B DOUBLE % appreciation compounding, double digits like 18% not 10%.  So while the 3% uptick in 2023 seems a little lack luster of a headline,  Winter Garden continued its upward trajectory and that 3% equals an acreage jump of over 20k and a new metric of $705,000 average closed sale price in 34787. I for one will take this with in relation to what is going on in the rest of the country. Plus remember these numbers are not the whole 34787 market , new home construction is only fractionally represented on these charts.

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What is in store for Winter Garden in 2024…. click the link below to find out.

CLICK THE IMAGE BELOW TO SEE MY 2024 PREDICTIONS

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