Weston Real Estate Market Trends as of April 30,2009
May 4th, 2009 categories: Market Update, Tips For Buyers
Weston’s Single Family Homes Market is Getting in Balance
As of the end of April the Number of active listings has decreased in 266 units compared to 779 active listings at the end of March 2009.(almost a 35% reduction).
Active Listings: 513 units
Pending Sales: 148 units
Closed Sales: 50 units
Interesting Facts about Active Listings:
-Decrease in the percentage of Short Sales Listings from 38% to 35%
-Just a handful of Foreclosures (REO’s)
-In the Peak of the Market (Winter of 2004) – there were 121 Active Listings in Weston
-In the Bottom of the Market (Spring 2008) -there were 1204 Active Listings in Weston
-With 50 Closed Sales per month we would be in a balanced market if the number of Active Listings = between 450 and 500 units (9 to 10 months of inventory based on Closed Sales). We are almost there!
Interesting Facts about Pending Sales:
-Based on Pending Sales we have 3.5 months of inventory = A Seller’s Market
-There are some listings showing pending for almost a year, most of them Short Sales.
Interesting Facts about Closed Sales:
-Closings prices in most cases are very close to listed price and some sales have been above asking price.
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