While we certainly are still in a seller’s market, it is not as extreme as it was a few weeks ago.
16 Wintermist, Woodbridge
11 Snowapple, Woodbridge
6 Racing Wind, Woodbridge
14 Shooting Star, WoodbridgeAmong those active listings are my listings at 16 Wintermist, ($525K), 11 Snowapple, ($650K), 6 Racing Wind, ($865K), and 14 Shooting Star, ($999K).
The prices of Woodbridge homes for sale right now, range from $329,900 for a 2 bedroom 921 square foot attached condo at 16 Eastmont, (standard sale), to $1,999,900 for a 4 bedroom 2,669 square foot detached condo at 12 Waterway, (also a standard sale).
It’s especially tough for buyers looking for a 3 bedroom Woodbridge home in the “under $500K” price range: only 6 are listed, including that 22 Lakeview short sale that the OC Register quoted me mentioning in a blog in 2008. It is STILL available, with an asking price of $450K, down from $589K. The price history prior was $685K, then $649K, $625K, $619K and $599K!
The Lakeview property is an exception. We are still seeing multiple offers being received for Woodbridge properties, within a few days of listing.
What with interest rates continuing to surge last week, (rising above 4.1% for the first time in a year), the demand from homeowners to refinance, has slowed. These higher interest rates also are reducing the buying-power of homebuyers – those that could afford a $600K home now find themselves only able to afford a lower-priced home.
26 Woodbridge homes sold in May 2013, at prices from $348,800, (for a 2 bedroom attached condo at 203 Briarwood), to $1,180,000 for 17 Daybreak, (a 4 bedroom single family home in Landing I).
30 Woodbridge homes are in escrow, (Pending or Backup Offers status), at a total list price a little over of $18.5 million. It will be interesting to see how many close escrow this month.
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