If the real estate market is experiencing a slowdown, it certainly is not being seen in the luxury market. Unlike other areas of the market, some experiencing year-over-year declines of over 17%, the Central Florida luxury market, despite COVID-19 disruptions, is holding strong. What is driving the interest in this market sector? LIFESTYLE.
Historically, known as one of the largest investments held within a lifetime, today’s real estate purchases during these uncertain times are just that. “Large and high dollar,” says Erin Wanner of Stockworth, one of the luxury sector’s seasoned industry veterans. “Despite the turmoil we may be treading through, I am currently representing buyers and sellers within the area’s most prestigious and sought after communities, including multi-million dollar purchases in Golden Oak, The Ritz-Carlton Residences Orlando, Carmel, on The Butler Chain and in Winter Park — all of which are Central Florida’s most valuable zip codes. Buyers have a “now or never” approach to what they want.
Located at 11112 Lake Butler Blvd. in Windermere, this Butler Chain home pictured here for sale is a hot commodity. Families are beginning to fully absorb the value of entertainment at home and are no longer relying on outside sources and locations to occupy their time, especially when access can be taken away in the blink of an eye. Purchasers in today’s market are seeking amenities at home and are letting their lifestyle goals drive their consumption patterns. Properties, such as the one featured here, offer everything from a home office, home gym, sauna, theater room, game room, private beach, pool, and boats/jet skis. After a long day of zoom meetings at the (home) office, and virtual learning with the kids, what better way to blow off steam and have a little fun then walking out your back door to your own waterfront paradise. Most importantly, having room for all of the family to gather and be together for extended periods of time is a much larger priority now than ever before.
Stockworth has a proven track record of consistently leading in the luxury real estate space, and much of that success is attributed to their simple yet effective philosophy and practices. Led by market analyst, Jason Schmidt, CCIM, it’s President and Broker and someone who spends a tremendous amount of time diving into market data, the understanding that a philosophical approach to real estate, one that is driven to best advise Stockworth’s clientele and better position their real estate assets across a broad market, is what fuels his efforts.
“Our mission is to be our best without compromise,” says Schmidt. “Positioning our professionals in the marketplace as better practitioners and skilled real estate advisors is far preferred to our organization being viewed as having flashy salespeople without substance, a common downfall of real estate agents today. That is why I focus my efforts on best supporting our people, not competing with them, while delivering actionable data with which to make intelligent and informed decisions.” Schmidt’s assessment of real estate market activity, memorialized quarterly in Stockworth’s 300+ page Schmidt Report, is routinely relied upon by local, State, and National level business and economic policy influencers.
Turning Data Into Action.
“Our clients know they can rely on sound advice based on real and current market conditions,” says Wanner. Real estate markets, nationally and locally, have been in a state of flux following the early 2020 COVID-19 pandemic. Not since the financial crisis of 2008 has the understanding of market drivers, positioning, and interpretation been as important as it is today. During a time when total Orange County transactions are down by over 15% through the end of July, understanding counter-intuitive market drivers that are able push an increase in total median value by over 8%, as we’ve seen this year, must be soundly absorbed.
Today’s Buyers Are Social.
Regardless of market segment, social media, digital advertising, and understanding of search engine placement are crucial to the delivery of real estate products beyond personal networks. That is why Stockworth has invested heavily in the vertical integration of several digital media marketing systems leading to 100’s of thousands of monthly impressions and millions per year. While those numbers might be impressive, it is the targeted placement of advertising Stockworth delivers on behalf of all of its real estate advisors and property listings that sets these systems apart. Detailed understanding of luxury consumption patterns and psychographic data coupled with Stockworth’s empirical understanding of the luxury real estate market allow it to target those individuals who best meet luxury buying interests. Today’s digital media world is noisy. It is not only deep, but it is wide. Stockworth has learned how to deliver targeted information and data to consumers meeting its products’ buying needs.
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