Baldwin Park Real Estate & Baldwin Park Market Statistics - July 2011
Each month I will provide an update for real estate activity in the Baldwin Park neighborhood located in Orlando FL. Sales activity will reflect traditional sales, short sales, & REO/foreclosure sales. Traditional sales are negotiated between a buyer and seller; short sales are negotiated by the buyer, seller, and seller's lender; and a REO/foreclosure is negotiated between a buyer and bank.
Baldwin Park Real Estate Sales - June 2011
Baldwin Park Median Price:
As you can see the Median Price for Baldwin Park homes is $295,109. This number is nearly 256% higher than the $115,000 median price for homes sold in the Greater Orlando real estate market. Expect prices to hold steady during the summer months.
List to Sales Price Ratio:
Baldwin Park homes are selling between 90-98% of asking price regardless of the amount of time on market. What the graph does not tell you is the number of price reductions after the property has been marketed for 60 days. It is important to begin with a competitive price to sell your home within 60 days. Opportunity costs such as continued mortgage payments (or credit damage if a short sale) can create an additional unplanned expense.
Baldwin Park homes that have sold past the 90 day mark typically experience at least 2 price reductions before an acceptable contract to purchase is made. If you are considering selling your Ocoee home it is important to work with a local Baldwin Park Realtor who understands your market. I would enjoy assisting you in buying or selling a home with my market knowledge and experience.
Baldwin Park Real Estate Sales: January 2011 - June 2011
Unfortunately Baldwin Park Real Estate has experienced a significant drop in number of sales. In January of 2011, 59 Baldwin Park homes were sold. Only 16 Ocoee homes were sold in June 2011, a 73% drop in closed sales. Our Baldwin Park Real Estate Market has experienced a steady decline this year. The decline in number of sales is not unique to Baldwin Park and is being felt throughout central FL. Orlando home buyers and specifically Baldwin Park home buyers have less homes to choose from in the marketplace. We currently have a tight supply of homes with only a 4.5 month inventory. This is the lowest since December 2005! This summer is a great time to sell as buyers do not have as many choices!
Baldwin Park Average Sales Price: January 2011 - June 2011
Even though we are experiencing a decline in the number of sales the average sales price for a Baldwin Park home has only declined from $376,339 in January 2011 to $357,308 in June 2011. This translates to a 5% decline through 6 months of 2011. Sellers must price their homes correctly from day 1. A seller will lose about $3,000 in equity each month the home is not priced correctly based on the above market data.
Baldwin Park Home Sales - June 2011
The median price for a Baldwin Park single family home is $455,000. A total of 7 single family homes were sold in June 2011 for the Baldwin Park area. It is still possible to purchase a Baldwin Park single family home without utilizing a jumbo loan product.
Baldwin Park Townhome & Condo Sales - June 2011
Baldwin Park Townhomes & Condos are an affordable choice with a median price of $243,225. A total of 9 units sold in June 2011. These homes provide a 35% lower cost versus single family homes in the Baldwin Park area. You still enjoy all of the benefits and lifestyle of Baldwin park but with a 35% lower mortgage payment!
All of the above information can be a lot to absorb. As an experienced local Baldwin Park Realtor I can assist you with all manners of Baldwin Park Real Estate sales. Whether you are a Baldwin Park home buyer or seller call your local Baldwin Park Realtor at 407-619-6249!