Real Estate Study: Central Florida Luxury Home Sales up almost 40 percent in 2013, most expensive homes saw Biggest Jump

ORLANDO, Fla. --- A survey of real estate sales in Orange, Seminole, Osceola and Lake Counties by Stirling Sotheby’s International Realty shows luxury home sales in the market area grew at a robust pace in 2013 with the highest growth rate in sales of the most expensive homes. Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said 1,380 homes sold in the four-county region for more than $500,000 in 2013, an increase of 38 percent over 2012 luxury home sales. Most luxury sales---1,098 homes---were priced in the $500,000 to $1 million range, Soderstrom said. That category grew by 40 percent in 2013. Sales of homes priced from $1 million to $1.5 million grew by 20 percent and 115 sales in the top price range---$1.5 million plus---showed a 55 percent increase over 2012 figures. Orange County dominated the luxury real estate market in 2013 with 927 sales reported over $500,000 -- that's more than two-thirds of the total luxury sales for the region. But the growth rate was 31 percent over 2012 sales. Lake County saw the most modest growth in luxury sales last year. Soderstrom said 56 homes that sold for more than $500,000 in Lake County in 2013 represent a 12 percent increase over 2012 sales in the same category. Only three Lake County homes sold in the $1.5 million-plus category, down from four in 2012. Osceola County, long known for sales of modestly priced homes, saw sales of 118 luxury homes in 2013, an increase of 57 percent over 2012 sales. Seminole County luxury homes saw the highest growth rate in the region, with 288 sales that represent a 73 percent increase over 2012 sales. “Luxury home sales are a valuable benchmark of the housing industry’s recovery and the region’s economic strength,” Soderstrom said. “Our study indicates that luxury home sales across the four-county region show very healthy overall growth with excellent prospects for continued prosperity in 2014,” he said.