Coral Springs FL Real Estate Market Report December 2014

 

Real Estate Market Statistics for Coral Springs, FL provided by Lynn Pineda, your Coral Springs REALTOR® with Keller Williams Realty. What’s going on in our local Coral Springs Real Estate market you ask? Here you’ll find up to date reports for the year ending December 2014 for single family homes.

 Real Estate Market Statistics for Coral Springs FL

Activity for Single Family Homes for sale in Coral Springs is reflected in this report put out each month to report on the local Coral Springs Real Estate Market.  This details local market statistics for single family home sale activity in Coral Springs Florida. It details current inventory of homes, median prices, price per square foot, days on the market, absorption rates, distressed properties, type of market and top selling neighborhoods in Coral Springs.

 

Coral Springs FL Real Estate Market Summary for Dec 2014, in comparison:

 

Coral Springs Home Sale Prices

 

 

Market                                         Oct                   Nov               Dec                                        Dec

Statistics                                     2014                 2014             2014                                      2013

 

Median Price $329,500 $349,900 $333,000 prior year → $333,500
Price per Sq Ft $140.10 $143.50 $142.20 prior year → $140.70
Homes Sold 119 77 115 prior year → 105
Days on the Market 58 days 36 days 55 days prior year → 26 days
AbsorptionRate * 3.47% 5.21% 3.82% prior year → 3.00%
Seller/Balanced/BuyersMarket ** Seller’s Market Balanced Market Seller’s Market prior year → Seller’s Market
DistressedProperties *** 21.85% 15.58% 26.95% prior year → 22%

 

What does it all mean to you? What are the Coral Springs FL Real Estate trends? Where is our local Real Estate Market headed?

 

Homes for sale in Coral Springs during December 2014 showed an increase in number of homes sold with the median price decreasing.

 

The supply of homes describes Absorption* rates; how many homes are available for sale to meet the demand of Buyers. It illustrates how many months it would take to sell current inventory of homes for sale.  The current Absorption rate reflective of December home sales in Coral Springs is 3.82%. I believe this to be a bit misleading as we saw quite a jump of distressed properties home sales that can be more common as a year closes out. Lenders/Banks will often escalate these sales to be done with the losses before a new year begins. We’ll likely see a return towards a balanced and Buyer’s market in the months ahead.

 

As I routinely report on, Absorption rates will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market**.  Typically, less than 6 months of inventory is a Seller’s Market. 5 to 6 months of inventory is a Balanced/Stable market and over 6 months supply of homes reflects a Buyer’s market. The absorption rate I report here is for all of Coral Springs, however, keep in mind that absorption rates can vary by neighborhood and will vary by city.  When selling a home, it’s important to know your neighborhood absorption rate.  Call me and I can tell you your local neighborhood rate so you know how to best position your Coral Springs home for sale.

 

Distressed Property Sales *** (includes Short Sales and REO/Lender/Bank owned) during Dec had increased to just under 27%. This was a substantial increase from November and anticipated, as Lenders wanted to get these distressed properties off their books to start the new year of 2015 on better footing eliminating losses.  This is in comparison to November’s reported distressed property home sales at 15.50%:

 

    • 13.04% of market sales were Short Sales during December
    • 13.91% were REO/Lender/Bank Owned homes during December

 

 

What Coral Springs neighborhoods are selling?

 

Coral Springs home sales in the subdivisions of  Chevy Chase, Coral Creek, Coral Springs Country Club, Coral Springs Sub, Coral Springs University, Cypress Glen,  Cypress Run, Eagle Trace, Forest Hills, Heron Bay, Kensington, Maplewood, Ramblewood, Shadow wood, Turtle Run and West Glen were plentiful. We saw Cypress Run and Ramblewood tying at 7 homes sold for the most homes sold in a neighborhood during December 2014.

 

Coral Springs luxury home sales were found in The subdivisions of Brookside Grove, Eagle Trace Fairways, Heron Bay L’Hermitage, The Isles, Running Brook Hills,  and Whispering Woods sold luxury homes in their neighborhoods.

 

Do you want to find out more about your neighborhood and it’s homes sales? Call me at 954-464-100 or email me: LynnP@ImagineYourHouse.com

 

Below you’ll see at what price homes are selling for here in Coral Springs. Not only does this let you know the most common price range for homes selling in Coral Springs, but it also lets you know optimum points in which to price your home for sale.  Why are price points important, you ask?  Paying attention to the price points allows you the most success to sell your home.  Where does your home fit in, do you know? First you’re asking, “how much is my home worth” and just how do we do it?

 

Price Range              Quantity

 

$100,000 -$119,000       0

$139,999 -$199,999       4

$200,000 -$249,999      18

$250,000 -$299,999      22

$300,000 -$399,999      45

$400,000 -$499,999      16

$500,000 -$749,999      9

$750,000 -$1million+     1

 

More about home selling in Coral Springs

 

Do you want an accurate Real Estate market value of your home in Coral Springs? I can tell you what your home is worth in today’s South Florida Real Estate Market. My recommended price will be based upon my Real Estate experience and skill in setting accurate home selling prices so you can actually sell your home.  Pricing your home high and then having to reduce the price because your home isn’t selling will result in you receiving less money for your home, than had you priced it right to begin with.  I can tell you why this is true.  Call me or email me to find out your home’s value in Coral Springs Florida.

 

As your trusted, local 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 home selling process or home buying process in Coral Springs, please feel free to call me or email. Call me at 954-464-1100 or email me at LynnP@ImagineYourHouse.com.

 

Coral Springs FL Real Estate Home Sales Market Report for December 2014 written by Coral Springs Realtor Lynn Pineda with Keller Williams Realty Coral Springs on Jan 31, 2015. Based upon local MLS Statistical findings. Accuracy is not guaranteed. Coral Springs REALTOR® provided.

 

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Lynn hopes you enjoyed the most recent report on Coral Springs Home sales. You’ll find Lynn selling homes in Southeast Florida in the cities of Coral Springs, Parkland, Margate, Tamarac, Coconut Creek, Boynton Beach, Delray Beach, Boca Raton, Sunrise, Plantation, Ft Lauderdale, Pembroke Pines and Miramar areas within Broward and Palm Beach counties.

 

Real Estate Market Report written by Lynn Pineda, a licensed Southeast Florida Real Estate Agent, serving Coral Springs Florida and surrounding Southeast Florida.  Keller Williams Coral Springs Realty. Real Estate Promises Delivered.  You can speak with Lynn by calling/texting her at 954-464-1100 or you can email her at: LynnP@ImagineYourHouse.com if you need to sell or buy your Southeast Florida home. Your local, trusted professional when it’s time to sell your home.

 

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