As a real estate agent in the city of Parkland for 24+ years, I’m often asked questions pertaining to the market. “How’s the market, Bobbi?” “What’s selling”" “Do you think things are getting any better?” Are there many short sales or foreclosures in Parkland?” Since we’re at the half-way point of 2010, I’ve decided to give you a snapshot view of our current market.
First, let’s consider single family homes on the market….right now there are 240 homes presently listed in the MLS system, ranging from a low of $215,000 to a high of $5,200,000. The price breakdown is as follows: twenty are in the $200,000 range; twenty-nine in the $300′s; thirty-seven in the $400′s; twenty-eight in the $500′s; thirty in the $600′s; sixteen in the $700′s; twenty-five in the $800′s; six in the $900′s; thirty-seven from one to two million; five from two to three million; five from three to four million; and two over $4,000,000. Of these listings, 56 are short sales, and of those, 40 of them are listed under $600,000. In addition, within the 240 listings, 14 are foreclosed properties and 11 of these are listed under $400,000.
Now let’s look at pending contracts…..homes that have a fully signed contract between the seller and a buyer, but it just hasn’t closed yet. Right now there are 143 pending contracts and here is their breakdown: one is just under $200,000; 15 are in the $200′s; 29 in the $300′s; 23 in the $400′s; 29 in the $500′s; 22 in the $600′s; 13 in the $700′s; 3 in the $800′s; 3 in the $900′s; and 4 over $1,000,000. Of these pending contracts, 85 are short sales….half are listed under $400,00 and the other half has 19 in thr $500′s, 11 in the $600′s, 10 in the $700′s, 1 in the $800′s, 1 in the $900′s and one over a million. Also, within the 143 contracts are 11 foreclosures with 9 listed under $325,000, 1 in the $400′s and one in the $600′s.
Finally, let’s look at the Parkland homes that have closed in the last six months. There have been 182 sales, and here’s the breakdown; excluding the actual $50,000 firesale; 1 under $200,000; 19 in the $200′s; 33 in the $300′s; 44 in thr $400′s; 34 in thr $500′s; 22 in the $600′s; 9 in the $700′s; 6 in the $800′s; 5 in the $900′s; and 10 over a million–the highest being $1,800,000. Thirty-nine of the 182 were short sales with 3 in the $200′s, 8 in the $300′s, 13 in the $400′s, 7 in the $500′s, 5 in the $600′s, one in the $800′s and 2 over one million. In addition, 29 of the 182 were foreclosures, with 8 in the $200′s, 9 in the $300′s, 5 in the $400′s, 5 in the $500′s, 1 in the $600′s and 1 in the $700′s.
Okay, so it’s not a pretty picture. As you can see, our real estate market is still heavily peppered with short sales and foreclosures. The good news is, we are moving them through the system and we’re starting to see activity in the higher numbers. This market is not for the faint of heart, but with a strong dose of realty and perserverence, the sale will happen. Just be realistic and hang in there!
Talk to you soon……Bobbi