There was an ok level of activity in Woodburn Village in 2012 with 22 sales. Last year there were a total of 28 sales – hence a little bit less sales volume.
A great piece of news is that the number of distressed sales keep going down. In 2009, only 23% of the sales were normal sales, in 2010 33%, in 2011 57% of the sales were normal and this year about 70% are regular sales. That is great news for the owners and the community – and prices do seem to have started going up!
The inventory is very low at Woodburn Village and homes sell very quickly. Please click here to see what is currently for sale at Woodburn Village.
To get a better understanding of the overall price development in the neighborhood, please see below graph.
As can be seen from the above the average sales prices seem to have bottomed out in 2009. The two bedrooms in particular have seen a steady increase each year since 2009. The average one bedroom price went down a bit last year due to a low volume of two units and one of them being a small and not so desirable model. The typical market price for a regular 1 bedroom unit is likely more in the mid to upper $120’s.
Moving on to rentals the rental prices jumped again last year. The volume is a bit lower, just 16 units rented in 2012 in the MRIS versus 20 last year.
For investors the GRM has stayed pretty much the same since 2008 (price vs rent ratio.)
Woodburn Village is a great neighborhood and the prices have been stable for the last couple years. Coupled with the low interest rates and increasing rents this is an excellent time to buy. If you would like to discuss selling or purchasing at Woodburn Village please give us a call or contact us online.
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.