HIGH VALUE HOME PRICE TRENDS
FOR SELECTED ORLANDO SUB-MARKETS
DATA PERIOD: 2007-2015
DATE OF REPORT - JANUARY 2016
PREPARED BY
LANDMARK APPRAISAL SERVICES, INC
1540 GROVE TERRACE
WINTER PARK, FLORIDA 32789
LANDMARK APPRAISAL SERVICES, INC.
1540 GROVE TERRACE
WINTER PARK, FLORIDA 32789
Phone 407 629 1967
January 2016,
The information contained herein represents an overview of the market for two categories of
high value homes in six selected Orlando sub-markets. They are: Windermere, Winter Park,
Orlando/College Park, Celebration, Heathrow/Alaqua and Lake Nona. The Celebration
submarket was expanded to include Disney’s Golden Oak area and Orlando/College Park.
This survey focuses on single family homes from 4,000 square feet to 7,499 square feet and
for homes larger than 7,500 square feet. Individual lots are also surveyed.
The results are presented as: number of sales, average sale price and average sale price per
square foot. The data covers the years 2007 through 2015 for each sub-market area.
The source of this data is the MLS database and the geography (radius) has been selected to
include what is believed to be substantially all the high value dwellings in the respective sub-
market. Sales outside MLS are not included.
Lake Nona and Downtown Orlando saw 25% and 20% price increases respectively in 2015.
Windermere and Celebration saw 9% value increases and Winter Park had a rather staid 3%
increase over 2014. Heathrow/Alaqua eased 2% over 2014. All areas are seeing shortened
market exposure times and increased activity. Listing prices are tending to be significantly
higher than actual sales prices perhaps acknowledging that the market is improving. Inventory
is tightening in most all of the markets surveyed. The biggest homes are taking longer to sell
and require larger concessions versus list price to sell. This trend had been growing stronger
over the last three years.
The analysis presented below serves to reinforce the old axiom of “Location, Location,
Location” The highest prices per square foot continue are firmly situated in Winter Park.
Winter Park has a relatively small supply of available land and significant demand for quality
homes. The result is a much higher price for residential lots.
Robert Poynter
RZ2372
2015 MARKET EXPOSURE RESULTS (AVERAGE DAYS ON THE MARKET)
AREA 4,000 TO 7,499 SF OVER 7,500 SF
ALAQUA-HEATHROW 141 151
CELEBRATION 191 N/A
LAKE NONA 161 378
ORLANDO CITY 99 N/A
WINDERMERE-LAKE BUTLER 118 310
WINTER PARK 103 419
This measures the length of time it took from initial listing to signed contract.
2015 LIST PRICE / SALE PRICE RATIO
AREA 4,000 TO 7,499 SF OVER 7,500 SF
ALAQUA-HEATHROW 96% 88%
CELEBRATION 96% N/A
LAKE NONA 94% N/A
ORLANDO CITY 95% N/A
WINDERMERE-LAKE BUTLER 96% 92%
WINTER PARK 95% 93%
This measures the average “discount” from the listing price compared to the sold price.
RESIDENTIAL LOT SALES PRICES
AREA # SINGLE LOT SALES AVG. SALE PRICE
CENTRAL ORLANDO 89 $207,650
ALAQUA / HEATHROW 31 $242,938
WINDERMERE 132 $411,470
WINTER PARK 77 $518,495
CELEBRATION 30 $279,397
LAKE NONA 42 $362,639
This table represents individual single family residential lot sales data covering both 2014 and
2015. Lot values trended down in Lake Nona, Celebration area and Winter Park. Central Orlando
was up approximately 27% over last year. Alaqua/Heathrow was steady.
WINDERMERE / LAKE BUTLER CHAIN AREA
HOMES 4,000 TO 7,499 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 165 $460,000 $3,600,000 $1,498,790 $297
2008 / 140 $350,000 $3,495,000 $1,180,407 $239
2009 / 142 $240,000 $3,260,000 $ 981,388 $194
2010 / 196 $250,000 $2,800,000 $ 895,933 $175
2011 / 206 $160,000 $2,650,000 $ 862,939 $170
2012 / 239 $270,000 $2,270,000 $ 874,584 $172
2013 / 271 $265,000 $3,750,000 $ 910,959 $180
2014 / 315 $110,000 $4,197,500 $ 884,711 $178
2015 / 354 $105,000 $4,575,000 $ 992,303 $195
ACTIVE / 309 $389,000 $5,300,000 $1,332,042 $255
HOMES OVER 7,500 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 11 $1,950,000 $10,000,000 $4,830,909 $492
2008 / 11 $1,850,000 $9,000,000 $4,499,725 $499
2009 / 12 $ 900,000 $5,000,000 $3,206,250 $365
2010 / 14 $1,400,000 $7,250,000 $2,954,487 $326
2011 / 32 $ 420,000 $5,400,000 $2,756,769 $284
2012 / 15 $1,300,000 $7,950,000 $2,481,593 $289
2013 / 19 $ 999,900 $6,500,000 $3,097,100 $338
2014 / 17 $1,651,500 $5,795,000 $3,423,324 $355
2015 / 17 $ 965,000 $5,495,000 $2,565,908 $299
ACTIVE / 27 $2,599,000 $15,000,000 $4,761,698 $514
WINTER PARK
HOMES 4,000 TO 7,499 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 39 $895,000 $4,500,000 $1,937,574 $395
2008 / 27 $745,000 $4,700,000 $1,741,856 $361
2009 / 39 $802,500 $2,600,000 $1,445,410 $299
2010 / 53 $390,000 $2,900,000 $1,169,784 $238
2011 / 53 $235,000 $3,200,000 $1,268,807 $255
2012 / 52 $450,000 $2,999,900 $1,303,642 $250
2013 / 64 $347,000 $2,800,000 $1,373,391 $286
2014 / 55 $649,000 $3,500,000 $1,577,664 $324
2015 / 62 $435,000 $5,495,000 $1,613,653 $334
ACTIVE / 56 $849,000 $4,999,999 $1,918,402 $366
HOMES OVER 7,500 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 1 N/A N/A $4,495,000 $489
2008 / 2 $5,800,000 $6,350,000 $6,075,000 $644
2009 / 2 $1,459,000 $5,600,000 $3,529,500 $402
2010 / 6 $1,975,000 $4,450,000 $3,036,000 $384
2011 / 3 $2,700,000 $4,900,000 $3,700,000 $413
2012 / 1 $4,500,000 $4,500,000 $4,500,000 $327
2013 / 5 $3,200,000 $5,625,000 $4,075,000 $416
2014 / 4 $1,800,000 $5,325,000 $3,131,250 $367
2015 / 2 $4,300,000 $6700,000 $5,500,000 $663
ACTIVE / 7 $1,895,000 $6,995,000 $4,081,857 $442
ORLANDO – COLLEGE PARK
HOMES 4,000 TO 7,499 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 15 $789,000 $3,200,000 $1,525,467 $311
2008 / 12 $500,000 $2,500,000 $1,152,417 $243
2009 / 10 $385,000 $1,350,000 $ 846,550 $166
2010 / 10 $500,000 $1,625,000 $ 960,490 $184
2011 / 12 $ 69,000 $1,200,000 $ 860,417 $182
2012 / 44 $132,900 $1,872,680 $ 878,399 $177
2013 / 16 $396,127 $1,225,000 $ 751,050 $158
2014 / 24 $219,900 $1,950,000 $ 836,729 $185
2015 / 57 $400,000 $3,400,000 $1,077,307 $231
ACTIVE / 47 $499,000 $3,475,000 $1,295,283 $263
HOMES OVER 7,500 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 0 - - - -
2008 / 0 - - - -
2009 / 0 - - - -
2010 / 0 - - - -
2011 / 3 $ 750,000 $2,850,000 $1,966,667 $213
2012 / 1 $1,100,000 $1,100,000 $1,100,000 $145
2013 / 0 - - - -
2014 / 0 - - - -
2015 / 1 - - - -
ACTIVE / 5 $2,650,084 $2,650,084 $2,650,084 $379
LAKE NONA AREA
HOMES 4,000 TO 7,499 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 6 $450,000 $3,950,000 $1,710,833 $306
2008 / 10 $650,000 $4,300,000 $2,182,920 $392
2009 / 9 $395,000 $2,500,000 $1,359,556 $272
2010 / 11 $875,000 $3,375,000 $1,649,136 $287
2011 / 20 $268,700 $2,400,000 $ 924,650 $182
2012 / 16 $344,900 $3,000,000 $ 944,125 $188
2013 / 22 $380,000 $2,300,000 $ 934,859 $180
2014 / 31 $288,000 $2,140,000 $ 668,896 $140
2015 / 37 $310,000 $2,250,000 $ 907,028 $187
ACTIVE / 47 $180,000 $3,750,000 $1,365,435 $262
HOMES OVER 7,500 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 1 - - $2,650,000 $304
2008 / 0 - - - -
2009 / 2 $2,450,000 $5,200,000 $3,825,000 $394
2010 / 2 $ 909,999 $1,990,000 $1,450,000 $168
2011 / 2 $ 850,000 $3,675,000 $2,262,500 $255
2012 / 1 $2,895,750 $2,895,750 $2,895,750 $309
2013 / 3 $1,800,000 $3,700,000 $2,833,333 $322
2014 / 0 - - - -
2015 / 1 - - $2,650,084 $305
ACTIVE / 4 $3,995,000 $4,750,000 $4,385,000 $513
HEATHROW / ALAQUA AREA
HOMES 4,000 TO 7,499 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 81 $505,000 $2,300,000 $1,198,619 $246
2008 / 64 $240,000 $2,350,000 $1,032,228 $210
2009 / 62 $290,000 $2,100,000 $ 812,073 $166
2010 / 73 $285,000 $2,000,000 $ 746,718 $157
2011 / 75 $262,900 $1,190,000 $ 679,125 $141
2012 / 77 $200,000 $1,750,000 $ 735,840 $149
2013 / 109 $270,000 $1,625,000 $ 760,628 $157
2014 / 87 $420,000 $1,840,000 $ 808,298 $165
2015 / 85 $300,000 $1,320,500 $ 795,937 $161
ACTIVE / 113 $300,000 $2,499,000 $ 964,730 $191
HOMES OVER 7,500 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 6 $1,400,000 $3,250,000 $2,661,667 $267
2008 / 3 $2,060,000 $2,800,000 $2,336,667 $264
2009 / 3 $ 635,000 $1,411,750 $ 915,583 $112
2010 / 6 $ 372,750 $2,100,000 $2,257,833 $222
2011 / 4 $1,050,000 $1,750,000 $1,362,500 $159
2012 / 2 $1,050,000 $1,630,000 $1,340,000 $162
2013 / 5 $ 650,000 $3,000,000 $1,665,000 $156
2014 / 5 $ 987,500 $3,400,000 $2,172,500 $218
2015 / 3 $ 840,000 $2,450,000 $1,636,667 $183
ACTIVE / 11 $ 839,900 $5,900,000 $2,603,518 $239
CELEBRATION
HOMES 4,000 TO 7,499 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 23 $800,000 $2,650,000 $1,313,261 $277
2008 / 19 $650,000 $2,125,000 $1,080,784 $232
2009 / 21 $295,000 $3,150,000 $ 967,714 $183
2010 / 30 $452,000 $1,540,000 $ 727,850 $158
2011 / 22 $300,000 $1,175,000 $ 720,877 $157
2012 / 29 $582,000 $3,495,000 $1,158,191 $226
2013 / 37 $529,000 $3,195,000 $1,080,146 $215
2014 / 39 $550,000 $4,197,500 $1,176,409 $237
2015 / 33 $565,000 $3,995,000 $1,300,581 $261
ACTIVE / 34 $539,990 $3,795,000 $1,485,002 $296
HOMES OVER 7,500 SQUARE FEET
YEAR / SALES LOW HIGH AVERAGE PER/SF
2007 / 0 - - - -
2008 / 0 - - - -
2009 / 0 - - - -
2010 / 1 $1,853,500 $1,853,500 - $234
2011 / 0 - - - -
2012 / 1 $4,438,900 $4,438,900 $4,438,900 $499
2013 / 2 $2,000,000 $6,300,000 $4,150,000 $346
2014 / 2 $3,100,000 $5,795,000 $4,447,500 $490
2015 / 0 - - - -
ACTIVE / 0 - - - -
