Clermont Florida Luxury Home Market...Good or Bad?

Has the market for luxury homes in Clermont Florida been picking up? Well, looking at a few stats from the Mid Florida Regional MLS, it appears that the Luxury Market may be starting to pick up a little steam.

What is the Luxury Market? Well, if you google "Definition of Luxury Homes", it will give you this definition: "The real estate market niche targeted at the highest socio-economic group of consumers". Ok, again, what is the Luxury Market? My definition of the luxury market for this blog post is "any residential home sold for $500,000 or more".

So, with a definition that we can actually understand, let's do a little research. Going back to 2007, there were only two homes sold in Clermont, Florida that were equal to or greater than $500,000. One home sold for $888,000 and the other sold for $635,000. In 2008, there were zero homes sold in Clermont Florida that were over $500,000. Currently, there have been eight Luxury Homes sold in Clermont Florida in 2009.

Here is a quick look at the homes and their sold prices:

1. 17527 Cobblestone Lane. List Price: $597,000 Sold Price: $555,000.00

2. 17532 Cobblestone Lane. List Price: $1,799,999. Sold Price: $1,575,000.00

3. 10239 Thompson Pl. List Price: $625,000.00 Sold Price: $560,000.00

4. 12906 Magnolia Pointe Blvd. List Price: $799,000 Sold Price: $700,000.00

5. 10419 Lake Louisa Rd. List Price: $730,000 Sold Price: $730,000.00

6. 1692 Orange Thorpe Lane. List Price: $789,900 Sold Price: $735,000.00

7. 11517 Osprey Point Blvd. List Price: $550,000 Sold Price: $550,000.00

8. 11911 Falcon Crest Court List Price: $889,000 Sold Price: $675,000.00

Of the eight Luxury Homes that have been sold in 2009, four of them have been sold since June!!!

We still have a long ways to go to get to the number of Luxury Home sales that we had in 2005 (73) and 2006 (86), but it is definitely good to see that we are already past the levels of 2007 and 2008...combined!

Johnny Davis

Davis Signature Realty LLC

Certified Short Sale Professional

www.davissignaturerealty.com