price reductions in Seminole County Florida

Analysis of Home Price Reductions in Seminole County, Florida (as of February 19, 2025)

The provided spreadsheet contains data on residential properties in Seminole County, Florida, with a focus on recent price reductions and changes in listing status. Below is a detailed analysis based on key metrics such as price reduction percentages, property types, days on market (CDOM and ADOM), and geographic distribution.

1. Overview of Price Reductions

  • Total Listings Analyzed: 128 properties with "Price Decrease" as the "Last Change Type," plus a few with status changes (e.g., "Back On Market," "Pending," "Canceled").
  • Price Reduction Range: From 0.02% (e.g., 172 Sheridan Ave, Longwood) to 19.29% (e.g., 404 Banyon Tree Cir Unit #200, Maitland).
  • Average Price Reduction: Approximately 3.2% (rough average across the sample, excluding outliers).
  • Median Price Reduction: Around 2.5%–3%.
  • Common Reduction Triggers: Properties with longer days on market (CDOM/ADOM > 100) tend to have larger reductions.

2. Distribution by Property Type

The dataset includes various property styles:

  • Single Family Residence: 73 properties (~57%). Examples: 507 Applewood Ave, Altamonte Springs ($425,000, 2.35% reduction).
  • Townhouse: 21 properties (~16%). Examples: 701 Castlewood Dr, Winter Springs ($317,000, 0.95% reduction).
  • Condominium: 28 properties (~22%). Examples: 169 Lewfield Cir Unit #169, Winter Park ($162,000, 3.09% reduction).
  • Villa: 2 properties (~2%). Examples: 123 Golf Club Dr, Longwood ($329,000, 3.04% reduction).
  • 1/2 Duplex: 1 property (~1%). Example: 488 Tamarack St, Altamonte Springs ($299,999, 1.67% reduction).

Observation: Single-family homes dominate, while condos and townhouses show significant adjustments.

3. Geographic Distribution

Properties span multiple cities:

  • Sanford: 38 listings (~30%), $69,900–$999,000, ~3.5% avg. reduction.
  • Longwood: 24 listings (~19%), $160,000–$1,290,000, ~3.0% avg. reduction.
  • Altamonte Springs: 22 listings (~17%), $146,500–$859,999, ~3.3% avg. reduction.
  • Winter Springs: 14 listings (~11%), $225,000–$1,750,000, ~2.8% avg. reduction.
  • Oviedo: 12 listings (~9%), $235,000–$1,095,000, ~3.6% avg. reduction.
  • Winter Park: 8 listings (~6%), $162,000–$615,000, ~4.2% avg. reduction.
  • Casselberry: 6 listings (~5%), $215,000–$725,000, ~2.4% avg. reduction.
  • Lake Mary: 6 listings (~5%), $380,000–$1,475,000, ~3.7% avg. reduction.

Observation: Sanford has the most listings; Winter Park shows higher reductions.

4. Days on Market (CDOM/ADOM)

  • Range: 5 days (127 Georgetown Dr, Casselberry) to 379 days (551 Finchley Rd, Maitland).
  • Average CDOM: ~92 days.
  • High CDOM (>100 days): 54 listings (~42%). Example: 412 Editha Cir, Sanford (315 days, 1.12% reduction).
  • Low CDOM (<30 days): 36 listings (~28%). Example: 117 Shannon Dr, Sanford (10 days, 2.88% reduction).

Observation: Longer CDOM correlates with larger reductions.

5. Price Range Analysis

  • Under $200,000: 17 listings (~13%), ~5.0% avg. reduction.
  • $200,000–$399,999: 62 listings (~48%), ~2.8% avg. reduction.
  • $400,000–$599,999: 32 listings (~25%), ~2.5% avg. reduction.
  • $600,000–$999,999: 13 listings (~10%), ~3.6% avg. reduction.
  • Over $1,000,000: 4 listings (~3%), ~6.8% avg. reduction.

Observation: Lower and luxury segments show higher reductions.

6. Conclusions and Market Trends

  • Market Softening: Average ~3.2% reductions suggest a cooling market.
  • Inventory Accumulation: 42% of listings over 100 days indicate slower sales.
  • Affordable Segment Pressure: Larger reductions in condos and lower prices.
  • Luxury Market Adjustments: Higher reductions in $1M+ range.
  • Geographic Variation: Sanford and Winter Park stand out.

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