Published January 1st 2024
December "data" from the Resort Area Market...
The final Team Donovan report for 2023 sales activity details that the median Price of a resort area home has increased 2.7% over the past 12 months, rising from $363,100 in December 2022 to $373,156 twelve months later. Total resort area inventory was up 30% over the same period from 1,115 listings a year ago to the 1,595 total currently available. The average number of days on the market that a home took to close in December was 98, compared to 67 days a year ago. A home that closed during the Month did so at an average of 97.9% of its listed Price, from an average of 100.01% twelve months ago. During December, the market saw 120 homes withdrawn after failing to sell, down from 128 withdrawn listings during the corresponding month a year ago. The pipeline number of homes under offer/pending closure stood at 482, an increase of 11% on the 429 pipeline last December. Total sales during the Month of 293 were up slightly from the December 2022 total of 296 but showed an increase of 33 sales compared to the 263 closings during November 2023. The year ends with the total number of available listings, when considered against the current pace of sales, indicating a 5.4-month supply during December, which was down from the 6.1-month level in November but significantly up on the 3.8-month supply offered in the market during December 2022.
Looking Back ... 2023... Key Performance Numbers At A Glance…
| MONTH | ACTIVE | D.T.C. | SP/LP | MEDIAN PRICE | PEND | SLD | SUPPLY |
|---|---|---|---|---|---|---|---|
| JANUARY | 1056 | 69 | 100.2% | $365,387 | 484 | 228 | 4.6 |
| FEBRUARY | 981 | 70 | 100.01% | $369,481 | 590 | 295 | 3.3 |
| MARCH | 887 | 75 | 99.6% | $371,252 | 650 | 364 | 2.4 |
| APRIL | 858 | 79 | 99.2% | $367,300 | 686 | 404 | 2.1 |
| MAY | 875 | 85 | 98.5% | $370.189 | 623 | 373 | 2.1 |
| JUNE | 972 | 89 | 98.1% | $328,000 | 719 | 445 | 2.6 |
| JULY | 973 | 92 | 98.0% | $370,131 | 567 | 377 | 2.6 |
| AUGUST | 1121 | 93 | 97.8% | $370,495 | 555 | 328 | 3.4 |
| SEPTEMBER | 1318 | 96 | 97.8% | $370,495 | 511 | 307 | 4.3 |
| OCTOBER | 1462 | 97 | 97.7% | $373,320 | 479 | 306 | 4.7 |
| NOVEMBER | 1612 | 100 | 97.7% | $372,862 | 453 | 263 | 6.1 |
| DECEMBER | 1595 | 98 | 97.9% | $373,156 | 482 | 293 | 5.4 |
Active = Active listings as of the 25th of each respective Month.
DTC. = Days to home securing a contract.
SP/LP = Average Price attained compared to asking Price and expressed as a %.
Median Price = Median Price across the resort area communities.
PEND = Homes recorded as under offer/contract at the respective Month's end.
SLD. = Homes that sold or closed during the indicated Month.
Supply = The total supply of available inventory based on the respective Month's sales pace.
Closing Numbers ... December 30th 2023
1 G.B.P…Buys 1.272 U.S.D - 1 U.S.D…Buys 0.785 G.B.P.
1 EURO...Buys 1.106 U.S.D - 1 U.S.D…Buys 0.903 EURO
1 CAN $…Buys 0.756 U.S.D - 1 U.S.D…Buys 1.322 CAN $
***
U.S. Federal Prime Interest Rate = 7.50%
Team Donovan publishes this updated monthly report on the 1st of each Month to benefit all Worldwide Central Florida absentee owners. Our community reports are updated and posted on the 15th of each Month. If you are considering selling your property in the future, please feel free to contact us; we would be delighted to discuss the marketing of your own home in more detail.