ORLANDO, Fla. – 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 $1 million 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.
News Release
Stirling Sotheby's International is Leading Revival of Luxury Home Sales at Bella Collina in Monteverde
ORLANDO, Fla. – Bella Collina, the exclusive ultra-luxury community that started development overlooking Lake Apopka in Monteverde just before the housing market collapsed, is experiencing a revival.
Part of the reason is bargain pricing—golf course home sites that were priced from $490,000 to $935,000 at the height of the real estate boom are now selling for under $50,000.
Just two months ago, the LR team at Stirling Sotheby’s International Realty announced an international marketing campaign to spur sales in the luxury neighborhood.
Roger Soderstrom, founder and owner at Stirling Sotheby’s International Realty in Orlando, said through May of this year two luxury homes have sold at Bella Collina and six luxury home sales are currently pending. Twelve luxury homes are currently listed for sale at Bella Collina with the average list price of $3.3 million.
“Home sites at Bella Collina are a bargain right now,” said Dan Natoli, a partner with the LR Team. “Golfside home sites on the market right now are priced from $2,900 to $80,000 and they were originally priced from $490,000 to $935,000,” he said.
Luxury homes for sale at Bella Collina today range in price from $900,000 to $7.9 million. However, Natoli foresees new homes priced in the high $400-500,000 range in some neighborhoods in the coming year. Those prices will be driven by very affordable lot pries and new consumer buying trends.
Stirling Sotheby’s LR Team—Natoli, Carolyn Burgiel, and Darren Iozia of the firm’s Windermere/Dr. Phillips office—said that buyer interest is growing everyday.
“Buyer interest at Bella Collina has been extremely strong in 2010, the strongest we have seen in three years,” Burgiel said.
“We’re talking with traveling professionals, couples downsizing, pre-retireds and professionals from the Orlando area looking for a high-quality lifestyle and attractive pricing,” Burgiel added.
* * *
Carolyn BurgielRealtor®407.864.0605CJSells@earthlink.netDaniel NatoliRealtor®407.595.8395DPNatoli@yahoo.com
Featured Properties | Home | Our Blog
Copyright © 2010 Carolyn Burgiel & Dan NatoliPortions Copyright © 2010 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.
