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Coral Springs FL Real Estate Market Report Aug 2013

Coral Springs FL Real Estate Market Report for Aug 2013 provided by Lynn Pineda, your Coral Springs Realtor and South Florida REALTOR® with Keller Williams Partners Realty. So what’s happening in the Coral Springs Real Estate Market? If you are thinking; “I want to sell my Coral Springs home”, read more below about recent Coral Springs Real Estate home sales and how it will affect selling your home.

Coral Springs Home Prices

Coral Springs Real Estate Market August 2013

Home prices in Coral Springs remained steady during August where homes have continued to sell rapidly when priced right!*  (See Absorption rates below)  Review below to see selling price of homes.

Coral Springs Real Estate Report Market Summary

  • Single Family home sales decreased by about 12% this month, having sold 120 homes compared to July’s home sales of 137 homes sold. Keep in mind, that August is a back to school month which will have an effect on home sales.

  • The median sale price during August was $325,000 which remains the same from July’s reported Coral Springs home sales .

  • The median price per square foot was $132.40 during August which is down from $135.20 in July while homes having been on the market for a median of 21 days compared to 17 days in July.
  • Distressed Property Sales increased slightly this month to 25% compared to July’s rate of just over 24% with the breakdown shown below:

    • Just over 17% of market sales were Short Sales
    • Just under 8% were REO/Bank Owned homes
    • As we continue to see the distressed Seller’s effect on the market reducing, it will continue to bring hope to many concerned with Real Estate property values in Coral Springs. It’s also good to hear that the stressful burden endured by the distressed Seller is lessening in their daily lives. Let’s hope this pattern showing up again this month of August does not climb higher in the months ahead.

During August it continues that We cannot keep any home inventory here in Coral Springs while August’s reported home sales showing the Absorption Rates  is now documenting a rate of  just over 2%.  When homes are put up for sale in Coral Springs it is taking just over 2 months for them to sell! July’s rate was 1.76% and June’s rate was at 1.88%. An Absorption Rate is always good for you to know as a Home Seller. Your Coral Springs Realtor that you hire should talk Absorption Rates, if they know their local market. It’s critical that your Realtor know their local market.  This rate will tell you that if you list your  home for sale with the current inventory level, the inventory of homes will all be sold within just over 2 months. Compare this to Broward county’s rate of just over 3.0 % and Palm Beach county’s rate of over 4% which are reduced rates from July. Homes sold faster in Broward and Palm Beach counties during August. Home Buyers are letting you know that they want to buy a home  you’re selling in Coral Springs.  When Buyer’s want to buy a Coral Springs home,  you’ll find them trying to make their offers very attractive, so home Sellers, as yourself, will select their offer. The time couldn’t be any better to sell a home in Coral Springs so, if you want to sell your home in Coral Springs, call me and I can tell you how I’ll get your home sold for top dollar and fast! We’re still experiencing a Seller’s Market.

As a Home Buyer in Coral Springs, presenting an offer that will stick out from all the other Buyer’s offer is what your goal should be so make sure you know how to present an offer. Not sure, call me, and we can discuss this.

Please understand that Absorption Rates vary by neighborhoods. I’d be happy to go over your neighborhood’s specific absorption rate so, you know what to expect.

Do you live in any of the  Coral Springs Florida neighborhoods below?

The neighborhoods of Brookside, Coral Springs Country Club, Cypress Glen, Cypress Run, Kensington, Maplewood, Ramblewood, Turtle Run, and Wydham Lakes had home sales in larger numbers.

Coral Springs Luxury neighborhoods of Eagle Trace, The Isles, The Isles East, Maplewood Isle and Running Brook Hills sold luxury homes in their communities.

If you don’t see your neighborhood listed here and want to find out more about selling a home in your neighborhood, feel free to call me at 954-464-100 or email me: LynnP@ImagineYourHouse.com

How much is my home worth? As you can imagine, this is probably one of the first questions that I routinely receive from a homeowner who is thinking about selling a home in Coral Springs or anywhere for that matter. Price points will be considered when setting a price to sell a home in Coral Springs. As I discuss each month, these price points can tell you where there are a lot of Buyers looking in a particular range and are willing to pay that price thereby, increasing the chance of your home being sold. During June, you’ll find the most heavily populated price points are those listed below. For example, from the list below, if your home’s value was near the $400,000 price point and you were to price your home at $399,999 or just below, you’d have a much greater chance of reaching more Buyers compared to pricing your home immediately at $400,000 or just above. Pricing at the right price point can elicit multiple offers driving up the ultimate sale price of your home. This is why I can’t stress it enough on the importance of pricing your home right, at the beginning.  Thinking you can always reduce it later if your home doesn’t sell, statistically will result in a lower sales price and take longer to sell. I can speak to you further on this point, just call me.

Not sure of where you should price your home; If you want to know, please contact me for a complimentary valuation of your home. As I say, again and again: Pricing your Coral Springs’ home to sell

 

Price Range            Quantity

$180,000-$199,999     4

$200,000 -$249,999     18

$250,000 -$299,999     27

$300,000 -$399,999     46

$400,000 -$499,999     14

$500,000-$749,999     5

 

Days on the Market

Days on the Market before selling this month reflects the speed in which the homes are sold. During August, 60% of all homes, sold for 96% of the Original List Price within 0-30 days and another 17% sold for 98% of original list price within 31-60 days. 1% sold for 92% of Original List Price within 241-270 days.

More about home selling in Coral Springs

To find out your home’s value and to request a Market Analysis for your home in Coral Springs, call me, email me or click here: Find out my Home’s Value in Coral Springs Florida

 

As your local Coral Springs REALTOR® and Coral Springs Real Estate Agent, I’d be glad to help you sell your home in Coral Springs. Or if you simply have questions about the selling process and home prices in Coral Springs, please feel free to call me or email. Call me at 954-464-1100 or email me at LynnP@ImagineYourHouse.com.

Written by Coral Springs Realtor, Lynn Pineda September 30, 2013. Based upon local MLS Statistical findings and accuracy is not guaranteed.

 

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