Weston, Florida, a city since 1996, is a planned urban development created by the “folks from Disney.”  As you drive through this “perfect” community, you almost expect to see hippopotamus-shaped trees and Tigger-Chasing-Pooh shrubbery.

Even though Weston has experenced 1% a month home price decreases over the past several years, Weston has always maintained “value.”  She will rise again as inventories decrease and prices and mortgage rates increase. 

According to Facts & Trends(TM), Weston’s market stats are as follows:

One year ago, Weston was experiencing 10 months of supply; today she is experiencing 6 months of supply.  Weston has experienced a 40% DECREASE in inventory in the single-family home category.  There has been a 2.19% decrease in sales over last year. . . . where is the inventory?

Currently, the average price per square foot overall for single family homes is around $172.  The highest price per square foot last year was experienced in November, 2009, at $179 per square foot. 

The median-priced home in April of last year was $372,000 and in April of 2010, the median price has risen to $401,000, a 7% increase.

The average days on market hover around 73 days, about 2.5 months, and there is an 87% sold/original list price differential. There is still quite a gap between average list to average sold price:  AVERAGE LIST:  $1,017,000. AVERAGE SOLD: $473,000.

It is such a privilege to work at a company that provides such a wonderful tool as Facts & Trends(TM).  EWM provides it and trains you how to use it so that you can sound intelligent and look professional as you present before your Sellers and Buyers.

The market is changing. Agents needs tools that substantiate these changes. Facts & Trends(TM) is just one of the many tools at EWM.

Tags: Facts & Trends, Tools for Real Estate Agents

Posted on Sunday, May 9th, 2010 at 2:05 am and is filed under Florida Market Stats. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.