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Pricier Homes Still Selling

September 19, 2007

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by Linda Hutchinson

A recent search of the Mid Florida Regional multiple listing service reflects that there have been 219 homes sold in ORANGE County, Florida for $1M or more since January 1st of 2007. This is only slightly lower than the 251 sales for the same time period in 2006. However, it is important to note that the highest price sold in 2006 was only $8.815M with 2007 boasting a recent sale of a 15,000 sq. foot, $10M mansion in Isleworth. In total sales volume, luxury sales are on pace to meet or exceed last year’s statistics. This is good news indeed.

For those who are interested, the majority of homes sold in the $1M plus price range were in Windermere with almost 100 homes sold this year. Winter Park is a distant second at 49 homes sold. The balance of homes sold is spread out around the county. Most homes over the million dollar mark feature at least five (5) bedrooms and 4,500 square feet of living space. It would appear that market conditions (whether real or imagined) have not adversely affected the luxury home market in Central Florida.

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3 comments

  1. I work in the Dr. Phillips and Windermere real estate market and it sure seems like even those million dollar homes are now suffering as well. I’ll bet in a month or two the numbers will show a decline in this market as well.


  2. Thanks for the comments but I don’t think this will be the case since the luxury home buyer is typically not as adversely affected by the market. I can tell you that Stirling Sotheby’s just handled the sale of Lou Pearlman’s house which should increase the stats for high end homes as we move into the fall season.


  3. It seems to me that homes priced at >$1M always seem to be moving slower than $150,000 condos, but that’s a natural part of selling high-priced homes that are not financially viable for very many buyers.



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