Home buyers experience bidding wars

Homebuyers are unexpectedly finding more competition this spring (2012) in securing their offer onf their home. The Wall Street Journal is reporting that price bidding wars are increasingly being reported in markets across the country, from California to Florida.

This is true of Orlando real estate in Central Florida especially in certain neighborhoods like, Baldwin Park, Hunter's Creek, StoneyBrook, Avalon Park, Bay Hill/Dr .Phillips and others.

 Homebuyers can become frustrated and caught off-guard about the bidding wars re-emerging.

 Why are things getting so competitive? Many housing markets are seeing a drastic decrease in the number of homes listed for sale, leaving homebuyers with fewer options and more bidding on the same house.  Some real estate  analysts say the shortage in supply is from sellers unwilling to take much less for their home than what they originally paid for it and pulling homes off the market. Also, a surge in investors who snatch up homes in bulk in all-cash deals has made the market competitive.

The National Association of Realtors® latest pending sales report confirms the trend. Pending sales in March reached their highest level in nearly two years and are up 12.8 percent from one year earlier.

Source: “Stunned Home Buyers Find the Bidding Wars Are Back,” The Wall Street Journal (April 27, 2012)

Stoneybrook East- Orlando-Recent Home Sales (32828)

What recently sold in Stoneybrook-Orlando?

The past 90 days (November through February 4, 2012), there were 10 real estate transactions in this Orlando Neighborhood.  

 List Price Address  beds/baths-- SqFt -Sale Price- Sold Date

LIST PRICE: $106,220 2435 SIWARD AVE 4 2/0 1,259 sq/ft -  SOLD: $114,230 12/30/11

LIST PRICE: $158,000 2730 DOVER GLEN CIR 4 2/0 1,755 sq/ft -  SOLD:  $160,200 11/18/11

LIST PRICE: $160,000 2579 DOVER GLEN CIR 4 3/0 2,408 sq/ft -  SOLD:  $159,000 12/08/11

LIST PRICE: $161,500 2275 HILLSHIRE DR 4 2/0 1,920 sq/ft -  SOLD:  $162,500 11/28/11

LIST PRICE: $224,900 2430 STONE CROSS CIR 4 2/0 2,407 sq/ft -  SOLD:  $215,000 01/24/12

LIST PRICE: $249,990 14883 HARTFORD RUN DR 4 3/0 2,824 sq/ft -  SOLD:  $239,000 2/16/11

LIST PRICE: $255,000 2621 WINDSORGATE LN 4 3 2,841 sq/ft -  SOLD:  $255,000 01/25/12

LIST PRICE: $260,000 2513 CORBYTON CT 4 2/1  3,833 sq/ft -  SOLD:  $260,000 11/18/11

LIST PRICE: $310,000 2414 TETON STONE RUN 4 3/0  sq/ft -  SOLD: 4,004 $310,000 01/25/12

LIST PRICE: $539,900 2616 NORTHAMPTON AVE 4 4 3,888 sq/ft -  SOLD:  $494,000 12/01/11

What Homes are for sale today in Stoneybrook-Orlando? If you are wondering what is currently for sale in Orlando's Stoneybrook neighborhood, just head over to my Orlando real estate site. You can take a look at *all* the current Stoneybrook listings with multiple pictures on the Mid Florida MLS and you won't have to register.

While you are over there you can also look at other Orlando listings by neighborhood like Avalon Park, Baldwin Park, Dr. Phillips, Bay Hill, Thornton Park, College Park and more.

Map of Stoneybrook East Orlando 32828-Click to enlarge