These are great numbers to see...and interest rates are still at 40 year lows.
Winter Park, Colorado (PRWEB) August 04, 2012
The latest Annual Market Report released by Real Estate of Winter Park presents a promising but mixed picture of the current status of Winter Park Real estate in the first half of 2012, compared to the same period in 2011. Positive single family home figures were hampered by less than stellar data from the condominium sector.
The brightest news in the report is from the single family homes sector, where some strong data were presented. The first half of 2012 showed homes in Winter Park increasing their average sales price 12%, and the number sold is up 60% over last year. “These are great numbers to see. We are largely a second home market, and interest rates are still at 40 year lows,” explained Lisa Leclair Waldorf, Broker/Owner at Real Estate of Winter Park. Related highlights were an increase of 41% in the number of homes under contract, and a decrease of 13% in the number of homes on the market.
The same trends among single family homes were seen in the other two markets as well. Granby reported a 41% increase in units sold, with a 71% jump in units under contract. The Lake Granby to Grand Lake area saw a more modest increase of 5% in the number of solds, and a 24% increase in units under contract.
Less impressive was the condominium market data. Average sales price for a Winter Park condo (including the nearby towns of Frasier and Tabernash) dropped 33% against first half last year. Waldorf commented “This is a little troubling since real estate markets typically rebound from the entry level homes first, which are condos in our market.” This price drop, however, helped spur a 16% increase in condos sold during the first half. “We speculate that as we get closer to ski season, the condo market will improve. We are confident we’ll have a better snow winter than last season.”
The nearby town of Granby, and the area north from Lake Granby to Grand Lake, also provided mixed data. Granby reported a drop in the number of sold units, but average sales price was up 23%. The Lake Granby to Grand Lake area showed an increase of 20% in units sold, with a drop of 3% in average sales price.
The Winter Park area, just 90 minutes from Denver, remains a popular year round destination, offering some of Colorado’s best mountain biking and skiing. There are good investment opportunities for the keen buyer, both in the single family home market, as well as the condominium market.
Real Estate of Winter Park is a team that boasts a combined 130+ years of experience and success in the industry. Their unique broker/owner approach eliminates inter-office competition and puts the needs of their clients first. Their agents are consistently the top producers in the area. With deep roots within the area, Real Estate of Winter Park contributes extensively to the community and is active as sponsors and members in many local organizations.