ORLANDO – The LR Team at Stirling Sotheby’s International Realty’s Windermere/Dr. Phillips office – Dan Natoli, Carolyn Burgiel and Darren Iozia – foresee a bright future for the Windermere/Dr. Phillips area.
“This may be the first luxury market area of homes over $1 million in the Orlando area to recover from the housing market collapse, said Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty.
Three zip codes – 34786, 32819 and 32836 – are seeing the largest increase in sales of million dollar homes, Soderstrom said. That conclusion is based on the statistics provided by the Central Florida Multiple Listing Service (MLS).
Through May of this year, 41 homes priced at more than $1 million have sold in the area, and in 2009, only 21 million dollar plus homes sold, according to the MLS. This is a 100 percent increase in this upper tier market range.
The LR Team at Stirling Sotheby’s International Realty has identified 238 homes in the area currently offered for sale that are priced at $1 million or more.
“That’s less than a 30-month inventory compared to over a 60-month supply in 2009,” Soderstrom added.
Carolyn Burgiel, a partner with the LR Team stated “The MLS data supports that the average sale price of million dollar plus homes in 2010 was $1,758,763, up from $1,693,716 in 2009. However, per-square-foot prices were down in 2010 at $278 per square foot compared to $322 per square foot in 2009.”
Burgiel said Stirling Sotheby’s is entertaining buyer inquiries from Europe, China, the UK, and Ireland as well as U.S. buyers relocating, downsizing and moving up.
We think the Windermere/Dr. Phillips area is positioned for a very strong recovery,” Burgiel said. “We won’t see 2005 prices again, and that’s part of the reason for the interest in the area,” she said.
For more information contact: Carolyn J. Burgiel, Sales Executive, Stirling Sotheby’s International Realty 407-864-0605; Roger Soderstrom, Founder/Owner, Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com
About Stirling Sotheby’s International Realty: Stirling Sotheby’s International Realty is affiliated with Sotheby’s International Realty, the largest luxury real estate brand in the world. Stirling Sotheby’s exclusive services include luxury residential, new homes, commercial, property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates three performance centers which serve all of Central Florida.
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