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Coral Springs FL Real Estate Market Report  for January 2013

Real Estate Market Data for Coral Springs, FL provided by Lynn Pineda, your Coral Springs REALTOR® and South Florida REALTOR® with Keller Williams Partners Realty. If you want to know what’s happening in the Coral Springs Real Estate market and if you’re thinking; “I want to sell my Coral Springs home”, read more below about Coral Springs Real Estate home sales.

Coral Springs Home Prices

The new year of 2013 in January started off a bit slower with home sale prices reflecting a slow down with the median sales price and the number of homes sold, as compared to last month’s year ending December 2012 home sales. It also took homeowners a bit longer to get their homes sold during January compared to December 2012 taking 43 days on the market compared to almost 37 days; not much of a difference, but noted.  We are experiencing a Seller’s Market in Coral Springs.

Coral Springs Real Estate Report Market Summary

  • Single Family home sales decreased by over 24% this month having sold 72 homes compared to December’s home sales of 95 homes sold.
  • Median price decreased this month to $279,000 down from $289,000 which is just under 3.50%
  • Distressed Property Sales decreased this month to just over 37% compared to December’s rate of over 42%:
    • Short Sales led were sales were just over 20% of market sales and
    • REO/Bank Owned were just over 16%
    • Distressed Sales have continued for many Coral Springs homeowners maintaining over 37% of Januay’s home sales which is down slightly from December 2012’s rate of  just over 40%

The inventory of homes increased slightly during January compared to December’s Absorption Rates of 2.05% to 3.07%; this means that with the current inventory level of homes on the market for sale in Coral Springs, it will take just over 3 months for the homes to sell; that’s still fast.  Buyers want homes to buy in Coral Springs! If you want to sell your home in Coral Springs, call me and I can tell you how I’ll get your home sold fast and for top dollar.

Absorption Rates can vary by Neighborhood. Call me at 954-464-1100 and we can go over the absorption rate for your neighborhood so you know what to expect.

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

The neighborhoods of Cypress Glen, Kensington and Ramblewood sold in great numbers during January.

Luxury neighborhoods of Eagle Trace, The Isles and L’Hermitage Heron Bay sold luxury homes in their communities.

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

What price will your home sell for? Consider price points when setting a price to sell your 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. For example, from the list below, if your homes value was near the $349,999 point and you were to price your home at $349,999 and below, you’d be reaching a much larger pool of Buyers, as you can see, compared to if you priced your home at $350,000.

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’ve said before: Pricing your home right at the onset is so important.

 

Price Range                 Quantity

$149,999 or under              2

$150,000 -$199,999         13

$200,000 -$249,999         13

$250,000 -$299,999         12

$300,000 -$349,999         15

$350,000 -$399,999         8
$400,000 -$449,999         8

$450,000 -$499,999         0

$500,000 -$549,999         0

$550,000 -$599,999         0

$600,000 -$699,999         0

$700,000 -$799,999         1

$800,000 -$899,999         0

$900,000 -$999,999         0

$1,000,000 or over           0

Total Coral Springs Homes Sold  is 72

 

Days on the Market before Selling

                          0-30 Days    31-60 Days  61-90 Days  91-120 Days     120+ Days

No. of Listings         35              8                       7                      8                      11

Breakdown %      49%              11%        10%                    11%                  14%

Avg % SP/LP         96%            97%        92%                     97%                  101%

* This row indicates what percentage of the list price that the home sold (sales price) for during JAN 2013.

More about homes in Coral Springs

To find out your home’s value and to request a CMA 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®, 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.


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