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Woodburn Village Market Statistics first half 2010

By
Real Estate Agent with Soldsense - your sixth sense in real estate

There has been a good level of activity in Woodburn Village this year. Unfortunately, a majority of the sales are still foreclosures and short sales. For the regular re-sales that took place, the prices and appraisals were heavily influenced by the distressed sales. 17 homes sold the first half this year as compared to 39 the whole of 2009.  Six were regular re-sales, 3 were bank sales and 8 were short sales. As can be seen in the sales mix charts - the number of foreclosures are down and short sales are up again. In the first half of this year, the overall percentage of distressed sales is down a little from the high in 2009.

Woodburn Village Sales Mix 2009

Woodburn Village Foreclosures

Woodburn Village Short Sales

Homes on average sell for 93.4% of the original list price. They sell for 101% of the final list price. So, if you are looking to purchase in Woodburn odds are that you will be paying close to the asking price.

If we look at the number of pending home sales in Woodburn Village as of 02/11/2010 we get a number of 8. They range in asking price from $124,900 to $189,000. Four of these are short sales, two are foreclosures and two are regular resales.

Three homes are currently available for sale in Woodburn Village. They range from a two bedroom foreclosure sale at $129,900 to a two bedroom short sale listed at $149,900. If you would like the current list of homes for sale, please email me.

To get a better understanding of the overall price development in the neighborhood, please see below graph.

 Woodburn Village sales prices

As can be seen from the above graph, the average sales prices seem to have bottomed out and have started trending upwards. What effect the homebuyer credit has had on prices is too early to know for sure. However, it does seem that there still is quite a bit of distressed inventory that has to be sold so I don't expect prices to rise significantly in the near future.

Looking at the upcoming foreclosures on Realist I found 0 pre-foreclosure, 14 recent or upcoming auctions and 6 bank owned properties. Some of the bank owned ones or auctions may already have been listed and/or already be under contract or sold.

Moving on to rentals the rental prices seem to have leveled of. There are currently 5 properties listed for rent ranging from $1,150 for a 1br/1ba to $1,500 for another 1br/1ba.

Woodburn Village Rents

For investors the GRM has stayed pretty much the same since 2008.

 Woodburn Village GRM

Woodburn Village is a great neighborhood and the prices have not been this low in many years. Coupled with the low interest rates this is an excellent time to buy. If you would like to discuss selling or purchasing in Woodburn Village please give me a call.

Are Andresen
Broker, Soldsense Realty LLC
"Your sixth sense in real estate"

Disclaimer: The data above is not guaranteed in any way and may contain errors and omissions and is based on MRIS data only. The analysis is my opinion only - always do your own research.

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