What's for sale in Winston Trails?

Currently, there are 27 homes on the market in Winston Trails.

To put this in perspective...at one point, at the height of the 'bubble' in mid 2005, there were only 6 homes available for purchase on the MLS.

Fast forward to late 2007...when the market had started it's fast downward trend but owners were still looking at, and trying to get, sales prices from 6 to 12 months earlier (as had been customary for years), there were 116 homes for sale in Winston Trails!

The most common phrase from owners back in late 2007-2008 was "I'm not giving my house away"! And looking back, the market values for a Winston Trails home back then were about 30% more than they are today...

The 27 homes on the market range in price from $169k all the way up to $525k! By the way, the $525k house has been on the market since April of 2009 (1070 days!)! That is a 2006 price...not a 2012 price.

• Six out of the 27 homes are short sales
• Two are Bank-Owned
• The average asking price per sq foot is $126...
• The average short sale asking price per sq ft is $114
• The average bank-owned asking price per sq ft is $94

Now lets compare those stats with the 90 homes that have sold in the previous 12 months:

• The average ASKING price  per sq ft for the homes that sold was $111
• The average SELLING price per sq ft for the homes that sold was $109
• 12 of 90 were short sales...which sold for an average of  $96/sq ft
• 11 of the 90 were bank-owned...selling for an average of $87/sq ft
• The 67 regular sales averaged a sales price of $112/sq ft

During the previous 12 months there were 14 owners who had placed their homes on the market, but the property listing 'expired' before the home could sell...Those 12 averaged $131/sq ft asking prices.

There are dozens of other analytics that should be processed and discussed with clients before (and while)  a home is on the market...pricing is not rocket science, but it is complex. When home prices are going up, an overpricing mistake can be covered up with 'time'...but in a declining market, even a small overpricing error can be tremendously costly...

If you're considering selling...make sure your agent thoroughly analyzes the market trends and indicators for you.

If you'd like to chat with me about selling, call me directly at 561-602-1258.


And, as always, thanks for reading...Steve Jackson

Click above to see the homes currently for sale in Winston Trails
(there may be more than 27 listed, but some are under contract and not reported as such in the MLS)