Winter Haven, FL - 2012 Commercial & Industrial Real Estate Analysisby Michael Cliggitt, MAI, MRICS on 10/22/13
Winter Haven Commercial & Industrial Real Estate Analysis
2012 Transaction Information and Analysis
(Data Extracted from MLS Only – Does not include additional transaction information from Non-MLS Listings/Sales)
21 Commercial Property Sales in the Winter Haven Market
· 12 Commercial Property Sales labeled as No Special Sale Conditions
o 57% No Special Sale Condition Property Sales
· 7 Commercial Property Sales labeled as REO/Bank-Owned Transactions
o 33% REO/Bank-Owned Property Sales
· 2 Commercial Property Sales labeled as Short-Sale Transactions
o 10% Short Sale Property Sales
Property Pricing Analysis
· Sale Prices Ranging from a low of $33,700 to a high of $901,000
o Sale Price Average was $250,238
o Sale Price Median was $125,000
o Average and median comparison indicates that there were more property sales in the lower tier price segments or more sales that were less than the average sale price indicated above.
o More Specifically 16 of the 21 Winter Haven Commercial Property Sales (76%) were below the average price of $250,000.
Sale Price/SF Analysis
· Sale Price/SF Ranging from a low of $11.82/SF to a high of $164.81/SF
o Sale Price/SF Average was $49.68
o Sale Price/SF Median was $33.53
o Average and median comparison indicates that there were more property sales in the lower tier price/SF segment or more sales with a Price/SF less than the average Price/SF.
o More Specifically 13 of the 21 Winter Haven Commercial Property Sales (62%) were below the average price of $250,000.
Sale Price to List Price Analysis
· Sale Price Compared Lowest Listing Price Comparison revealed a range:
o The Low was 61% Sale Price to Listing Price
o The High was 100% Sale Price to Listing Price (2 Sold for 100% of Listing)
o Average Sale Price to List Price was 83.5%
o Median Sale Price to List Price was 84.75%
o Most properties are selling near 85% range of their final listing price or to put it another way a 15% discount from the final/last listing price for a property is being realized by sellers in this market.
Note – The above sales included a range of property types such as: Warehouse, Office-Warehouse, Office, Medical Office, Vehicle Related, Retail, General Commercial, etc.
The above information helps display the state of the commercial and industrial sales market in Winter Haven, as represented by the sold properties that were listed in MLS. Almost 60% percent of these sales were typical transactions, but approximately 1/3 of the sales were bank-owned inventory with 10% listed as short-sale transactions. Bank-owned and/or distressed type sales continue to be part of the local commercial and industrial real estate sales market but made up less the ½ the sales within the MLS data for Winter Haven.
For more detailed information regarding the Winter Haven real estate market or to have us perform an analysis or appraisal of your property please feel free to contact us.
Mike Cliggitt, MAI, MRICS
Cliggitt Valuation, Inc.
Real Estate Analysts, Advisors, & Appraisers