Baldwin Park Home Market - by Laura Carroll
Baldwin Park is a very desirable community in the Orlando area. With neo-traditional designed homes and a Village Center with restaurants and shops, it has the appeal of a small town. Since we always have a lot of interest from buyers for this area, we thought we would start sharing some of our market statistics.
Monthly comparison 2010 vs. 2009: In the past 30 days, from August 15 to September 15, 2010 12 homes sold in Baldwin Park. Average price was $401,200 and price per square foot averaged to $159. These homes were on the market an average of 98 days prior to contract.
For the same period one year ago the average price was $327,415 with an average price per square foot of $156. It took an average of 67 days to get to contract.
Year to date comparison 2010 vs. 2009: Year-to-date figures (which are a bit more reliable than month by month statistics) show average sales price at $411,412, up $37,748 from 2009. However, price per square foot at an average of $159 this year was down $8 from 2009. The number of closings was about the same (138 closings in 2010; 132 closings in 2009.)
Absorption Rate: There were 196 closed sales in Baldwin Park in the most recent 12 months and there are 66 listings currently active. This means that the market is sustaining about 16.33 sales per month and gives us about 4 months of inventory. Compared to the rest of Orange County, which has a 5.9 month supply of homes, this looks pretty good.
In Summary: There are still many homeowners here who are "underwater" with their mortgages, and we anticipate that short sales and foreclosures will continue to be prevalent in the market at least the next couple of years.
These statistics depict a relatively stable market in Baldwin Park even after the roller coaster ride we've been on the past few years in Orlando. Baldwin Park certainly appears to be in better shape than the overall county. This is likely due to the superior location and neighborhood amenities coupled with the traditional appeal of the homes here.
Statistics provided by Orlando Regional MLS
For additional information about current market conditions or available homes in Baldwin Park, Laura Carroll can be reached at lcarroll10@cfl.rr.com
For more information find us on our website: www.ColeCarrollTeam.com
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