How is Weston’s Real Estate Market Doing?
August 30th, 2010 categories: General RE Info, Market Update
It Depends on Where and the Price Point you are looking at!
Unless you have been living in a Bubble or too Busy getting your kids back to school you have heard terrible news about the economy and the housing Market.I understand that the only way to look at trends is with bulk numbers but when you hear the news you have to make sure you take a closer look before getting anxious.
It’s true the Real Estate Market is very sensitive to perceptions but numbers don’t lie and you have to look at the Sub-Markets and draw your own conclusions…
This Graph represents the behavior of the Single Family Home Market of properties priced Under 500K. Invetories have increased a little and closed sales decreased. As you can see closed sales have erratically moved in the last 15 months but except from the months prior to the two tax credit expiration deadlines pending sales have been trending up.
One of the numbers we follow closely, more than increase or decrease of units sold, to determine how healthy is the market would be is the relationship between homes for sale and homes pending/sold. Based on this criteria in the last 15 months Weston has been swinging between a balanced market and a seller’s market with less than 6 months of Inventory. You can ask anyone who has been in the market buying properties in Weston under $500,000 how many times they competed against other offers.
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Thinking of selling your home? Now might be a good time to put it on the market when the inventory of great properties for sale is low. For a FREE market analysis of your property call me at (954) 588-7260 or contact me
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