The town of Windermere here in SW Orlando has seen a pretty drastic drop in average price per square foot from $211 per foot in January 2010 to $120 a foot in November 2010. I interpret this drop as indicating more lower priced homes are selling versus actually showing price declines.
The Windermere real estate stats show that average price currently stands at $323,000 with a median price of $255,000. In this area, I’d probably pay more attention to the median price since ultra luxury communities such as Lake Butler Sound and Isleworth can skew the average price.
In November 2010, 52 out of the 483 homes for sale sold with an absorption rate of 10.8%. Properties listed for sale ended up getting 90% of their asking price.
Currently there’s 9.3 months of inventory on the market which is 11% higher than a year ago.
[lme-module module=”schools” zip=”34786″]