Weston Market Update- September 2018


Weston Market Update- September 2018

The median sale price of Single Family homes in Weston has slowly increased starting at $440,000 in 2013, to $530,000 year to date.

The median days to sell have been high, with the most number of days being 47 days on market in 2014.

The median sale price for Townhomes, Condos and Villas in Weston has increased starting at $165,000 in 2013, to $250,000 year to date.

The highest median days to sell was 52 days in 2015 and the lowest median days to sell was 22 days in 2013.

About Weston

Source: https://www.westonfl.org/about/city-history

The 15,000 acres of land now comprising the City of Weston was first amassed in the 1950’s by a gentleman named Arthur Vining Davis, the original owner of Weston’s primary developer, Arvida.  Over the course of the ensuing years, plans were prepared as to how the land would be developed and how that development would be financed, and the area now known as Bonaventure was sold to be developed separately. The development was originally known as Indian Trace, and in 1978, with the first of what would be many development plans complete, the Indian Trace Development of Regional Impact (DRI) was approved.  This permitted in excess of 25,000 dwelling units to be constructed, although subsequent amendments reduced that number to 17,000.  Shortly thereafter, in 1981, the Indian Trace Community Development District was created for the purpose of financing and managing the construction, maintenance and operation of water and sewer mains, water management bodies, and arterial roadways.  The District was governed by a five-member Board of Supervisors, appointed by the developer. The name of the Arvida development was changed from Indian Trace to Weston, and in 1984 the first homes were completed in Windmill Ranch and Country Isles, and Weston had its first residents. By November 1995, the Steering Committee and the Board of Supervisors arrived at the conclusion that the residents of Weston would be best served by forming a new city, as the tax dollars generated by the residents would remain in Weston, under the control of and for the use of, the residents.  It would also allow planning and zoning matters to be determined by residents.  The Board voted unanimously to file a Local Bill with the Broward Legislative Delegation to enable the residents of the Indian Trace Community Development District to vote on incorporation.    On May 5, 1996, the State Legislature approved the Bill.

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