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Weston Real Estate Market Conditions and Trends

Homes for Sale > Market Conditions and Trends > Florida Market Trends > Weston Market Trends

Summer 2010 Market Update Market Commentary Provided by Ruth and David Tannenbaum A home that is priced right and in good condition will sell in a matter of a few days on the market.
Average Home Price	$525,000 - View Graph Trend

Average Price Compared to Last Year	Down 10-15%

Average Time on Market	60-90 days

Best Selling Price Range	$500,000 - $549,000

Worst Selling Price Range	$1,000,000+

Prices As % of Asking Price	85-90%

Existing Home Prices for the past 90 days are?	No Change

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More buyers than sellers

Buyer Activity for the past 90 days in Weston is	Increasing

Seller Activity for the past 90 days in Weston is?	Increasing

Multiple Offers?	Yes

Multiple Offers Commentary	REO homes (Bank owned through forclosure) are getting multiple offers and are receiving multiple offers within a day of listing the property.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	15-20%

Is Financing Available For Qualified Buyers?	Yes

Housing Inventory	Limited Supply

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	New Industries

Nearest Metro Area	Fort Lauderdale

Housing Hot Spots	Most cities within the Broward County area are considered 'Housing Hotspots'

Average Sold Price	$525,000 - View Graph Trend

Weston Local News

News for Weston, FL - June 14th, 2010 12:24pm
Weston is one of the most sought after cities in South Florida, making it home to many famous NFL players as well as home to other sports figures. Weston is "Hometown, USA" and is enjoyed by families that have moved from other communities in South Florida and in the U.S. as well as families who have moved from South America, Europe, Canada, and the Far East. Many national and international businesses have offices in Weston as well as distribution facilities. Weston enjoys a diversity of cultures and everyone is friendly and neighborly! The schools are all "A" rated, shopping is local, parks are abundant and the athletic programs are #1. There are two local golf courses, two tennis facilities, athletic clubs and gyms as well as playgrounds for the younger set. Most of the subdivisions have community pools and playgrounds lending themselves for a wonderful family atmosphere. Some of South Florida's finest home builders were chosen to build homes in the City and established a flaw... [ + Read Full Article ]

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June 2010 (1)

Mortgage Rates

– Jul 30th, 2010 –
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30 yr. fixed rate: 4.60%
15 yr. fixed rate: 4.07%
30 yr. jumbo rate: 5.42%
15 yr. jumbo rate: 4.98%

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Repeat Buyers & Investors With Cash Boosting Home Sales & Prices In Many Markets, New HouseHunt Survey Shows

For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.

"The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."

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	Ask Me! Ruth and David Tannenbaum *Keller Williams Realty*	954-424-7653
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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)