Homes Sales Decline 35% in Heathrow, FL
68 Homes were sold in Heathrow, FL during the 1st half of the year. Activity declined sharply in the 2nd half, with the total sales being 44 homes sold. The Heathrow community is comprised of both custom and semi-custom homes. Custom homes typically command a higher price per square foot because they are more expensive to build due to land costs and lower economies of scale for builders. The following chart shows the homes sale by quarter for both custom and semi custom homes.
The custom home segment took a big hit in the sold price per square foot which dropped a whopping 27% from Q1 to Q4 in 2007. We can expect to see continued pressure on prices in both segments due to the mounting levels of inventory. The following chart shows the average sold price per square foot for by quarter for both custom and semicustom homes.
January 13th, 2008 at 3:30 am
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January 13th, 2008 at 3:32 am
Looks like sales are declining all over Central Florida. I think Realtors who says that the number of sales have not changed much need to open their eyes. In SW Orlando, home sales are down about half like the rest of Orlando. At least the inventory is not growing as much anymore.
March 15th, 2009 at 5:19 am
Well said, finally a good report on this stuff