The market is shifting; however, Weston, Florida has always maintained her value. Consider:
Since one year ago, the number of active listings is down 4.5% while the sold properties are up 25%.
The pended listings are up 60%. When the PENDED LISTINGS indicator is rising, our market is in recovery. Contracts have been written and are anticipated to close.
Average home prices are up. The price per square foot of a single-family residence, is approximately $210 per square foot – which is an increase of 15.9% over last year.
Part of the reason for the shortage of inventory: Homes remain on the market an average of 45 days — a decrease of 11.8% over last year. Homes are selling within 94% of their originally listed price.
The average listed price in Weston, Florida is $930,000 — a 9.8% decrease over last year. The average sold price is $629,000. This is a 27.3% increase over last year.
Important information: Months of Inventory. Currently, Weston, Florida is experiencing 2.2 months of inventory which is indicative of a Seller’s market. This is a 23.6% decrease from a year ago.
During the past twelve months, there were 677 single family, non-REO, non-shortsale homes sold. Of those 677 sales, 202 were cash and 404 were conventional.
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.
Consider what is happening nationally: