There has been a good level of activity in Woodburn Village this year with 16 sales this year (up to 8/13/2012.) Last year there was a total of 28 sales, so the number of transactions may end up a little bit down for this year.
One 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!
As of 10/10/2011 there are 4 pending home sales in Woodburn Village. All those 4 are short sales. They range in asking price from $100,000 to $165,000.
Only one home is currently available for sale in Woodburn Village. It is a 3br/2ba regular sale listed at $204,900. 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 this year is low – due to a small one bedroom model that sold. The market price for a regular 1 bedroom unit is likley more in the mid to upper $120’s.
Moving on to rentals the rental prices seem to keep climbing a little bit each year. So far this year 12 properties have been rented versus 20 the whole of last year. There is currently 2 properties listed for rent – a 1 bedroom at $1500 and a 2 bedroom $1,600.
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.