Wheaton Market Report – Land Sales for 2007

As I ran my end of year report for available land in Wheaton, I was shocked to find out that not one vacant piece of property closed in the entire year. 2006 saw 7 sales with an average sale price of $355,000.

There are currently 47 parcels of land available with an average asking price of $475,000.

The bulk of the lots available are in Amberwood Estates. This is a new 33 unit luxury subdivision in the Southwest part of Wheaton. It used to be the property of the Sunny Ridge Family Center. Twenty-one of these parcels are available ranging in price from $440,000 to $499,000.

We have three parcels listed in Amberwood Estates, two already have contracts. Whiteford Homes is the builder and they are listed as single family homes instead of vacant land.

It will be very interesting to see what happens to Wheaton land sales in 2008. With zero properties sold in 2007, things can only look up for 2008!