In the month of March we had … SFH Closed, it is a significant number considering we are not in the peak season of the market. Homes for sale keep going down and well priced properties in good conditions may get multiple offers. We have been swinging between a balanced market and a sellers market for the lowest price ranges for several months now. (A Balanced market is when we have between 6 and 9 months of inventory based on Closed Sales).

There was an unusual number of Foreclosures and the percentage of distressed sales (40%)  is slightly higher than in the last few months which the average has been around 35%.

Total Homes Closed on March 2012 59

By Type of Financing

By Type of Transaction

To read detailed information of Weston’s Market Trends and Weston Single Family Homes sold by community click read more…

Closed Sales by Community

SS= Short Sales
REO= Foreclosures

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Source: MLS and Trendgraphix. The data is provided for informative purposes and doesn’t imply that the authors were involved directly  in these transactions.

201 1 December’s activity in Weston’s Real Estate Market was very similar to 2010. The number of homes sold went down in only one unit and the percentage of distressed sales remained in the low %30’s, which even though is a very large number it’s still lower than in many other communities.

See below the list of properties sold during 2011 by Subdivision.

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And we were quoted in the BusinessWeek-Bloomberg article!!!
We have said all along that despite all we hear in the news the Weston Market has some hyper local trends that are different from most of the country. Even though Weston’s Real housing market has suffered as all the country, it has been slowly but surely recovering.

Weston’s as we have always referred to as Broward’s Cul-de-Sac was very well planned … all the services that are not local in nature are located surrounding the city along I-75 and the Residential areas are well separated from the Commercial Areas. Great Schools, Beautiful Landscape and a perfect city to live in have made of Weston the #1 housing market in the country.

One of the key factors that have contributed to Weston’s recovery is the fact that inventories have been absorbed and in the market under $800,000 we have had a seller’s market (less than 6 months of inventory based on closed sales) most of the time in the last year with multiple offers in most cases. If we go even further down in price range, properties listed under $400,000 remind us of the crazy real estate market times.

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The Market has been very active and we have less than 6 months of Inventory based on Closed Sales for all prices in Weston. In certain price ranges we have less that 4 months of Inventory based on Closed Sales. Under 6 months of Inventory shows a Seller’s Market and we have experience in both our listings and with our Buyers a trend to receive multiple offers.

There were an unusual number (TEN) of transactions with seller’s contribution which represent almost 15% of the total transactions. Seller’s Contributions ranged from $700 to $ 12,451.

Homes Sold By Development:

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Information obtained through the Multiple Listing Service

The more we hear about the housing crisis the higher the expectation of Buyers to buy “a steal”. The high end market in Weston (properties listed $800,000 and above) are not an exception. We have buyers who think they can offer 20% and 30% below asking price. As an exercise, we took all MLS closed sales in the last 6 months for Windmill Reserve, Windmill Ranch Estates, Windmill Lake Estates and Weston Hills Country Club.

As a Rule-of-Thumb we can say the average is 90%, in Windmill Ranch Estate there was one that closed at 63.16%  (a short sale) that skews all the data for that development. Of course the price to sell ratio if affected if the property was listed originally at an unrealistic asking price.

CLICK IMAGES BELOW TO ENLARGE

SS=Short Sale  REO=Foreclosure

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We can notice a decrease in the proportion of distress sales compared with the same period last year. On May 2010 distress sales (short sales and foreclosures) represented 46% of all sales and this year only 22%.

For a Detailed list of Single Family Homes Sold In Weston on May 2011 click here

For detailed information of single family homes sold during the month of May by neighborhood read more…

INFORMATION OBTAINED THROUGH THE MULTIPLE LISTING SERVICE

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One of the Best Headlines I have Read in a Long Time:

Decline in South Florida homes for sale giving sellers an edge.

We as Real Estate Agents selling property in South Florida have been noticing it for many months. I am glad finally the media is helping us convey this information to buyers looking for steals. Even though there are still very good deals out there, the real estate market specially in the lowest price points and in desirable areas as Weston moves very fast and at reasonable prices.

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For detailed in formation a list of single family homes sold during the month of May read more…

For a Detailed list of Single Family Homes Sold In Weston on May 2011 click here

INFORMATION OBTAINED THROUGH THE MULTIPLE LISTING SERVICE

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If you are interested in buying or selling, please call me at (954) 588-7260 or contact me.

Ron Shuffield is EWM Realtors President and South Florida Real Estate Numbers’ Guru.

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64 Single Family Homes Sold in Weston
April 2011

For detailed in formation a list of single family homes sold during the month of April  read more…

For a detailed list of properties sold in Weston on April 2011 click here

INFORMATION OBTAINED THROUGH THE MULTIPLE LISTING SERVICE

To stay updated with what’s going on in the Real Estate Market and receive my blog posts directly to your in-box subscribe here.
If you are interested in buying or selling, please call me at (954) 588-7260 or contact me.