The increase in closed sales can be found all around the West Broward. Interestingly Weston’s increase has not been as abrupt as in other areas. It may be caused by any or the combination of several reasons:

1. Weston’s sales and prices didn’t decrease as dramatically as other areas.

2. The fact that even though Weston was affected by the Real Estate crisis, the number of  foreclosed properties available for sale has been very low. In average we didn’t have more than 9 or 10 Foreclosed Single Family Homes available in the market.

3. The availability of properties in the lowest prices ranges. Weston didn’t have as many Single Family Homes under $200,000.00 or $ 300,000.00, as the other areas.

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 contact me.
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There were 76 Closings in July:
11 Short Sale (SS)
5 Foreclosures (REO)
60 Regular Sales

1 Under $199,999.00
43 Between $200,000.00 and $399,999.00
32 Over $400,000.00

Click here to view the embedded video.

Condos/Townhomes:

There were 20 Closings in July:
5 Short Sale (SS)
4 Foreclosures (REO)
11 Regular Sales

2 Under $199,999.00
13 Between $200,000.00 and $399,999.00
5 Over $400,000.00

Click here to view the embedded video.

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.