Heathrow real estate sale for January 2012 January compared to last year was only slightly down but values were up. Here is more information on Heathrow Real Estate at the Heathrow website.
Heathrow 2011 Real Estate Update – Sales down
February 2, 2012 By Leave a Comment
Just updated the house values in Heathrow for 2011, home sales declined by 15% over the prior year and values declined by 8%. Housing inventory is down but is expected to increase as more distressed homes will hit the market. For more information on Heathrow Real Estate go here
Heathrow Real Estate Sale for September 2011 showed a strong increase over 2010
November 20, 2011 By Leave a Comment
Heathrow real estate sales for the year have been trending negative over 2010 however September 2011 has trended into the positive territory by increasing sales from 5 homes in 2010 to 8 homes in 2011 which is a 37% increase. Also the average price increased from $275,000 in 2010 to $407,713 which is a 48% increase. While this sound great and looks good on paper , the per sq. ft. increase was only 8%, from $122.83 in 2010 to $133.00 in 2011. The median per sq. ft. price only showed a slight increase from $128.32 to $129.00. The main reason September prices were so high is because none of the sales were distressed sales. There are currently 91 active homes in Heathrow, 22 of the homes are in short sale status. The average price of active homes on the market are $608,361 and the average per sq. ft. price is $160.30. The median price of active homes is $479,000 and the median per sq. ft. price is $148.91. As you can see there is a huge difference in price between the active home and the market and the sold home prices and this is where the market challenges are located. Buyers on the average seem to be willing to pay $407,713 per home according to the September sales numbers but the average home price is $608,361 which is a 32% difference. Year to date the average sales price is running at $408,000 which is about similar to the September price average. On the average, 8 homes sell in Heathrow and based on 91 active homes for sale we have 11 months of unsold inventory which is relatively high. Heathrow consist of different villages and areas with different price points, Heathrow Woods is the luxury development where homes are mostly on 1 acre lots and prices are over $1m. There is also Carrington Park, Lakeside, Brampton Cove, Keenwicke, Devon Park, Wembley Park, Heron Ridge, Wyntree, Regency Green, Burlington Oaks, Clubside at Heathrow, Stonebridge, Breckenridge, East Camden, Cherry Ridge, Muirfield Village, Willowbrook, Bristol Park to name a few. Heathrow real estate sales and the market are challenging but not all homes are the same so for a professional home valuation and marketing plan please go to http://www.searchallproperties.com/homevalue/gittax or call me at 407-330-2181
Heathrow Real Estate – 715 Cricklewood Terrace
August 8, 2011 By Leave a Comment
Enjoy serene lake views from this custom-built former Parade of Homes winner! This quality built home is located in the prestigious 24hr man gated Heathrow Golf & Country Club community. Filled w/architectural detail, including extensive millwork, this home has true character. Features include: 3 fireplaces, 2 staircases, heated pool and spa w/paver deck! Large foyer with marble flooring, entire 2nd floor has rich hand scraped hardwood flooring throughout. Formal living room with fireplace and window seats, formal dining room, family room w/fireplace and built-ins, bonus room w/built-ins, master suite w/2-sided fireplace and separate sitting room or office or exercise room. Lots of crown and dentil molding, niches, and unique touches throughout! Great lake views from most rooms, lanai, and pool area!
Heathrow Real Estate Sales have dramatically dropped over 2010
August 8, 2011 By Leave a Comment
Heathrow real estate sales, in Lake Marys’ premier gated subdivision have not fared so well in the economic down turn of 2011. Sales over prior year took an almost 16 % drop and prices have taken a beating as well. It seems not even this highly sought after area is a safe haven in what seems to be a protracted and agonizingly long period of real estate contraction even in Lake Mary’s top and highly desirable subdivision. While Heathrow consists of many different villages and some have town homes and condos this market update looks at Heathrow overall. As of the end of July 67 homes sold compared to 2010 when 77 homes sold which represents a 16% reduction of sales. 6 of the sales where short sales and 7 were homes which were foreclosed and owned by the bank. Currently there are 108 homes for sale, 27 are short sales and 4 are bank owned and 19 homes are pending for sale. 19 pending homes only represent a rather small amount of the 108 homes for sale and points towards a further tough real estate market ahead. Based on the average of 9.2 homes selling per month, Heathrow has about 11 months of unsold inventory for sale. As we are going into the slower selling months, the 11 months of unsold housing inventory is only going to increase over the next months ahead. Prices have not fared well also, the average price per home in Heathrow for the first 7 months of the year was $378,944 compared to 2011 where the average home price was $426,116, which represents an 11% drop in value. The average per sq. ft. price per home dropped from $146.45 in 2010 to $128, 89 in 2011 and with 27 short sale homes on the market and 4 bank owned homes prices are expected to continue to decrease over the coming months as well. While these statistics represent a macro look at the Heathrow housing market individual areas may be better or even worth. Heathrow Woods the luxury enclave of Heathrow had an especially tough time weathering the market as there are 13 homes for sale, only 1 in pending and there was only 1 sale in 2011, which was located on 1924 BRIDGEWATER DR, LAKE MARY which sold for $1,600,000 or 19% less than the original asking price. While there is no magic bullet for any of this, however, much of this is related to prices where there is a definite consumer resistance. For more specific home values please go to the request a Free Home Valuation on the right side of this blog or follow this link, Free Home Value
Heathrow Real Estate and home sales January 2011
February 13, 2011 By Leave a Comment
Heathrow Real Estate home sales in January 2001 have slightly increased over the same period last year by 1 additional home being sold. The average sales price for January 2011 was $374,058 and the average per sq. ft. price was $134.50 and the days on the market was 84 days. This compares to January 2010 were only 5 homes were sold and the average price per sq. ft. was $331,008 and the per sq. ft. price was $137.16. So, in 2011 larger homes sold at a lower per sq. ft., price. There are 96 properties for sale in Heathrow, 88 are single family homes and 8 are condos or villas. 6 of these homes are bank owned and 18 are short sales, this roughly represents a 25% financially distressed housing inventory in Heathrow.
The following homes sold during January:
- 1559 Farrindon Circ. – condo – sales price $83,000 at $99.76 per sq. ft. – Barclay Place Condos
- 1094 Averdovey Pt. – Single Family – sales price $205,000, at $104,43 per sq. ft. – Keenwicke
- 1152 Chessington Cir. – Single Family – sales price $250,000, at $127.36 per sq. ft. – Keenwicke
- 601 Lakeworth Cir. – Single Family – sale price $250,000, at 132.21 per sq. ft. – Lakeside
- 691 Cricklewood Ter. – Single Family – sales price $700,000 at $182.10 per sq. ft. – Breckenridge
- 1404 Langham Ter. – Single Family – sales price $756,350 at $162.17 per sq. ft. – Reserve at Heathrow
Heathrow’s real estate market for 2011 is going to be challenging because of the resetting on option arm mortgages this year and next year which mainly affects all “A” home buyers in the luxury market, and Heathrow definately is a luxury development. On the bright side Heathrow home sales, there are 15 properties currently pending for sale which represents 15% of the market. At the current sale pace of 6 home sales per month, based on the past 90 day home sales in Heathrow it will take 16 months to sell off the current inventory. At this slow pace of home sales, more foreclosures and short sales can be expected in Heathrow.
