Weston Real Estate Market Trends May 2009
June 8th, 2009 categories: General RE Info, Market Update, Tips For Buyers, Tips for Sellers
Is Weston’s Real Estate in a Balanced Market?
In the month of May 2009, 59 single family homes sold in Weston, Fl. By the beginning of June there were 492 active SFH listings in Weston. That means we had 8.3 months of inventory based on Closed Sales. On April we had 8.6 months of inventory based on Closed Sales. Granted we are in the “Hot Season”, not only for the temperatures, and the begining of the Summer are the months of more sales activity in the city. As a refence of how much the market has improved last year in April we had 12.5 and in May we had 11.9 months of inventory based on Closed Sales. A balanced or healthy market is one where we have 6 to 9 months of Inventory based on Closed Sales.
In the Month of May the breakdown by price was a follows:
Under $ 199,999.00 : 4 Homes
Between $ 200,000.00 and $ 399,999.00 : 32 Homes
Between $ 400,000.00 and $ 599,999.00 : 18 Homes
Between $ 600,000.00 and $ 999,999.00 : 3 Homes
Over $ 1,000,000.00 : 2 Homes
Weston,Fl May 2009 Sales SFH
Where are the Bargains?
Of the 59 sales in May 2009 in Weston,Fl 11 were Short Sales and 5 Foreclosures. The Myth that only Short-Sales and Foreclosures are selling seems to have no basis. Two of the Bank Owned Properties sold above the Asking Price (not much though) and the other 3 very close to the asking price. Four of the 11 Short Slaes also sold slightly over the asking price. in the regular sales the list to price ratio was 94% (not including the sales over 1,000.000.00 since they would throw out the averages).
