The town of Winter Garden, zip code 34787, has seen marked improvements in their housing market over the past year.
There’s only 5.3 months worth of inventory and the number of homes for sale has dropped from 443 in January 2010 to 369 in December 201o resulting in a drop of 16%. The absorption rate based on closed sales is 19%.
The good news is that low inventory has been a trend for 2010 with inventory ranging from 4 to 6 months for 2010.
Surprisingly, the median sales price has remained steady. It was $167,000 in January 2010 and $162,000 in December 2010.
The average sales price has actually gone up from $159,000 in January 2010 to $199,000 in December 2010.
The average price per square foot currently stands at $89/ft and has ranged in the $80 to $90 range for much of 2010.
The average days on market has remained around 90 days for much of 2010 and seller received somewhere between 85% to 90% of their asking price.