This is a quick summary of how the Winter Park Real Estate market and markets in the Granby and Grand Lake areas look for the period of January 1, 2014 through September 30, 2014 as compared to the same time period for 2013.
In general, our markets are definitely recovering. Slowly but surely, we’re seeing most categories of property experiencing a higher volume of sales. We are also seeing a slight increase in average sales price, depending upon the area.
Looking at the category of single family homes, this has been the busiest market for the Winter Park Real Estate market. Not quite as busy in Granby and Grand Lake. In Winter Park, the number of sales for this time frame was 100, which is a 69% increase over 2013. The sales volume for single family homes in Winter Park increased 78% and the average sales price went from $491,780 in 2013 to $518,375 in 2014, which is a 5% increase. For Granby and Grand Lake, the numbers sold were down by 9% and 23% respectively, along with volume being down by 7% and 16% respectively. The good news is that the average sales price in Granby went from $361,448 in 2013 to $368,413 in 2014 which is a 1% increase. In Grand Lake, the average sales price went from $293,183 in 2013 to $321,300 in 2014, which is a 9% increase.
In the category of condominiums, Winter Park also experienced very good sales so far this year. Keep in mind that Winter Park has quite a lot of condominium product, while Granby and Grand Lake do not have the same volume in general. That said, the number of sales year to date in Winter Park was 146, which is a 21% increase over 2013. The sales volume was up by 28% and the average sales price in 2014 was $205,219 which represents a 5% increase over 2013. In Granby and Grand Lake, the number sold and the sales volume were down substantially but this is not bad news, as they do not have as many sales in general in this category. The average sales price in 2014 for Granby was $131,063 which is an 18% decrease since 2013. In Grand Lake, the average sales price was $147,786 which is a 1% decrease over 2013.
Vacant land sales have been increasing slightly. In the Winter Park area, the number of sales decreased by 1% from 2013 but the volume increased by 40%. The average sales price in 2013 was $126,922 and was $187,781 in 2014, which is a 48% increase. The number of land sales in Granby in 2014 was 28 over 20 in 2013, a 40% increase. The volume increased by 134% and the average sales price by 67%. This is due mainly to so few sales that one big sale can skew the market statistics. In Grand Lake, the number of vacant land sales was down 45% going from 11 sales in 2013 to 6 in 2014. Sales volume was also down by 70%. The average sales price in 2013 was $112,864 while the average sales price year to date in 2014 was $61,967 which is a 45% decrease.
This should help give you an idea of what is happening in the Granby, Grand Lake and Winter Park Real Estate Markets, for the first three quarters of 2014.