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Weston Homes Sold During March 2013

As of today April 11, 2013 there are only 186 active listings in Weston.  This means that we have less than 3 months of inventory based on closed sales (Seller’s Market) putting a lot of pressure in prices.

After a few months of almost 50% Cash Transactions this month we have a percentage that seems to be more reasonable. Cash transactions distort the market since most of them are not subject to appraisal. Even though many times in financed transactions buyers are willing to pay above appraised value at least there is a bench mark to negotiations on a new purchase price.

Distressed Sales (Short Sales & Foreclosures) have kept the pace in the 30% range. What we have noticed is a reduced number of new distressed listing entering the market.

Weston Homes Sold March 2013

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Weston Single Family Homes Sold During February 2013

Weston, a Very Interesting Real Estate Market…

Weston’s Real Estate activity is still very stable. Even though the number of homes sold is not impressive the facts behind in our opinion are… including the fact that there were not more closed sales because there is lack of Inventory.

Here are some Facts:

THE FIRSTS FEW MONTHS OF THE YEAR IN WESTON ARE NORMALLY OUR “LOW SEASON”

24 HOMES SOLD UNDER $ 400,000 AND WE HAVE UNDER 48 ACTIVE LISTINGS UNDER $ 4000M000, this means less than 2 months of Inventory based on Closed Sales (less than 6 months of Inventory based on Closed sales is considered a Seller’s Market)

5 HOMES SOLD AT FULL ASKING PRICE

10 (41.66%) HOMES UNDER $400,000 SOLD ABOVE ASKING PRICE BETWEEN 8.95% AND .04%

17 (70.83%) HOMES UNDER $ 400,000 SOLD CASH

This leaves the Buyers with low Down Payments in a very difficult situation…. we hope the craziness we experienced  a few years ago doesn’t come back. We can’t imagine how the High season will bring!!!

Weston Closeed Sales February 2013 by type of financing and type of transaction

To see a detailed list of Homes sold By Community please click on MORE Read the rest of this entry »

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Weston and Nearby Communities Homes Sold by Type of Transaction

SF Homes Sold Between January and July 2012

We keep track of Weston’s Housing Market very closely and we find it’s very important to check every few months how our real estate performs compared with other nearby communities. Many of our Buyers when looking to buy in Weston also consider these other cities.

Weston has performed very well compared with neighboring cities with slightly over 30% of distressed sales and the lowest percentage of foreclosures. Compared with SW Ranches which is a very small market, Weston’s numbers shows a very “healthy”* market.
* The use of the word healthy we know may be audacious, we mean…. healthier than other markets by contrast.

Weston’s Real estate market was the last the feel the pain of the market downturn and the first to show signs of recovery.

Broward Homes Sold Jan-July 2012 by type of Transaction

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If you are interested in finding how much your home is worth, please call us at (954) 588-7260 or
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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.

Written by Ines Garcia | Discussion: 1 Comment »

Single Family Weston Homes Sold On July 2012

82 TOTAL SINGLE FAMILY HOMES SOLD IN WESTON DURING JULY 2012

WESTON HOMES SOLD JULY 2012

Weston’s Real Estate Market remains very active with very low inventories putting pressure on prices. Distressed sales are slightly over 23% which is a relative low percentage compared with a year ago and other communities.

To read detailed information of Weston’s Market Trends and Weston Single Family Homes sold by community click on Read the rest of this entry »

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Weston Single Family Homes Sold During June 2012

90 TOTAL SINGLE FAMILY HOMES SOLD IN WESTON DURING JUNE 2012

WESTON HOMES SOLD BY TYPE OF TRANSACTION AND FINANCING JUNE 2012

WESTON REAL ESTATE MASKET TRENDSThere is a slight difference between the numbers in the graph and the actual number of homes showing closed in the MLS as of today, probably the data for this graph was pull a few days ago and some properties were not updated by then; having said that we can see a clear trend of diminishing inventories over time with a 2.5 months of inventory based on closed sales which puts a lot of pressure in pricing since the supply/demand relationship is favoring sellers.

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

Closed Sales by Community

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Weston Homes Closed On May 2012

Weston Real Estate Market remains very active and with an interesting stabilization in the percentage of  distressed sales, despite all the “bad press” which has remained around 30%.
WESTON HOMES SOLD BY FINANCING AND TYPE OF TRANSACTION

As you can see in the following graph there is a clear trend in decreased inventories and increased pending sales. In the last year only during the winter (slowest time for our market) we kept months of inventory based on closed sales above 6 months. Under 6 months of Inventory based on Closed Sales is considered a Sellers Market. We still have some challenges with appraisals where there is in many cases a gap between what buyers are willing to pay and appraised values.

WESTON REAL ESTATE - SINGLE FAMILY HOMES MARKET TRENDS

For Detailed Information on Single Family Homes Closed during 2012 by Community please read more… Read the rest of this entry »

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Weston Single Family Homes Sold April 2012

Weston Remains a Very Active Market

Coincidentally this month last year (April 2011) we had the exact same number of closed sales as this year. The great difference is in the number of active listings which are almost 22% down from last year. The number of Pending Sales increased dramatically making it very competitive.

Distressed Sales (Short Sales and Foreclosures) represent 26.6% of the market which is less than the 32% to 36% average that had been the trend in the last couple of years.

To stay updated with what’s going on in the Real Estate Market and receive our blog posts directly to your in box subscribe here.
If you are interested in finding how much your home is worth, please call us at (954) 588-7260 or
contact us.

The Following graph shows Single Family Homes Market Data for the last 15 months in Weston:

Weston Single Family Homes Sold in the Last 15 Months

TOTAL NUMBER OF HOMES SOLD 64

Closed Sales by Type of Sale and Financing

To See Homes Sold by Community click here Read the rest of this entry »

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Weston Single Family Homes Sold March 2012

Weston’s Real Estate Market Keeps Being HOT!

In the month of March we had 59 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

financing

By Type of Transaction

type

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

Closed Sales by Community

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Single Family Homes Sold in Weston During February 2012

41 TOTAL SINGLE FAMILY HOMES SOLD IN WESTON DURING FEBRUARY 2012

Weston Homes

Weston’s Real Estate Market has been moving consistently for the last year.  We ended the month of February with the lowest number of homes for sale we have had since 2004 with under 300 homes for sale in Weston…

We have also noticed a decrease in the percentage of CASH transactions representing only slightly over 20% compared to the times where they represented over 30% of all transactions. The trend in the percentage of distressed sales (short sales and foreclosures) has been steady for many months now.

To read detailed information of Weston’s Market Trends and Weston Single Family Homes sold by community click read more… Read the rest of this entry »

Written by Ines Garcia | Discussion: 4 Comments »

Weston Single Family Homes Sold During January 2012

58 TOTAL SINGLE FAMILY HOMES SOLD IN WESTON DURING JANUARY 2012

WESTON HOMES SOLD JANUARY 2012 BY TYPE OF SALE

Weston’s Real Estate Market has been moving consistently for the last year. The graph below contains data for the last 15 months. You may notice a slight difference between the two data sets but the trends are very clear. Decreasing Inventories and steady sales indicate we are in a seller’s market (Under 6 months of Inventory based on Closed Sales). We ended the month of January with the lowest number of homes for sales we have had since 2004…

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

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