Winston Trails Sales, the past 30 days...and more

Here's a map of the 10 sales from the last month:

1. 6376 Barton Creek...Cairo, Sold @ $220k...not a short sale or bank owned
2. 6428 Barton Creek...Cairo, Sold @ $225k...not a short sale or bank owned
3. 6676 Brookhurst...Monaco, lake, pool, Sold @ $315k...not a SS or bank owned
4. 6397 Grand Cypress...Grandview (courtyard), lake, pool, Sold @ $270k...not a SS or bank owned
5. 6416 Grand Cypress...Aspen (small 3/2/2), lake-golf, pool, Sold @ $234k...not a ss of bank owned
6. 6048 Newport...Hatteras, pool, Sold @ $225k...Short Sale
7. 6039 Royal Birkdale...Venice...Sold @ $240k...Bank Owned
8. 6172 Royal Birkdale...Sydney, pool, golf, 3 car gar, Sold @ $326k...not a ss of bank owned
9. 6352 Sand Hills...Paris-extended sq ft, pool, lake, Sold @ $384k...not a ss of bank owned
10. 5912 Wedgewood...Monaco, pool, Sold @$245k...Short Sale

Ten sales in 30 days is a great rate of sales...but my outlook on continuing this pace is not that optimistic. This number (10 in 30 days) was clearly driven by the Homebuyer tax credits. If I annulize this rate of sales, that would translate to 120 sales/year. But, if we look back to the the trailing 12 months, there were a total of 60 sales, exactly HALF of that rate.

IMPORTANT: If you are having real estate agents in to give you their Market Analysis show, make sure that they fully understand, discuss, analyze and account for the tax credit impact.

As always, thanks for taking the time to read our blog.

Winston Trails Market Report, March 2010

Below, I will break down the Winston Trails real estate activity for on-the-market homes, under-contract homes and recently sold homes:

On The Market

• There are currently 33 homes on the market in Winton Trails.
• Asking prices/sq ft range from a low of $108/sq ft to a high of $182/sq ft
• Days on the market range from 7 all the way to 610, 15 of the homes have been on the market longer than 120 days
• Listed prices range from $160,000 to $525,000, with an average of $303K and a median of $295k
• The lowest priced home NOT in The Greens is a home on Remington Place in Bay Meadow for $199k
• 6 of the homes are being marketed as Short Sales
• There are NO bank-owned homes available in Winston Trails as of the date of this post

Under Contract

• 16 homes are under contract
• 8 of the 16 are Short Sales
• 2 of the 16 are Bank Owned
• 3 of the 16 will most likely walk away from the closing table with little or no money
• The asking prices/sq ft range from $93/sq ft to $158/sq ft
• The number of days it took to get a contract range from 5 days (for the $93/sq ft home) to 515 (for the $158/sq ft home)...pretty clear pattern here!
• Asking prices range from $175k to $325k
• The average days on the market for the non short sales/non bank owned is 51, with the high being 103

SOLD in the last 30 days

1. Cairo in Barton Creek, oversized lakefront lot...$230,000
2. Paris in Shadow Creek, pool...$310,000