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Coral Springs Real Estate Market Report October 2014

Real Estate Market Statistics for Coral Springs, FL provided by Lynn Pineda, your Coral Springs REALTOR® with Keller Williams 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 single family home sales in the Coral Springs FL Real Estate Market Report. Get the most recent report here!

Coral Springs news 

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 Oct 2014, in comparison:

Coral Springs Home Prices

 Market                                Aug                 Sept               Oct                                   Oct

 Statistics                             2014               2014               2014                                 2013

Median Price $335,000 $345,500 $329,500 prior year → $320,000
Price per Sq Ft $148.50 $145.10 $140.10 prior year → $134.80
Homes Sold 116 103 119 prior year → 100
Days on the Market 32 days 37 days 58 days prior year → 24 days
Absorption Rate * 4.17% 4.30% 3.47% prior year → 2.45%
Seller or Buyers Market ** Seller’s Market Seller’s Market Seller’s Market prior year → Seller’s Market
DistressedProperties *** 12.93% 18.45% 21.85% prior year → 27%

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 October 2014 increased with a higher number of homes sold with the median sales price declining. Brisker home sales during October, yet a continued stabilization of home prices particularly when you compare to a last year, October 2013 when the median sales price was $320,000.

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 is 3.47% which is an decrease this month; it includes a spike in distressed properties selling this month which likely was a contributing factor due to these properties having been on the market pending as in the typical Short Sale taking at least 90 days to gain approval prior to successfully closing.

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 Oct had increased to almost 22% as compared to September reported distressed property home sales at just over 18%:

    • (11 ) 9.24% of market sales were Short Sales during Oct
    • (15) 12.61% were REO/Lender/Bank Owned homes during Oct

What Coral Springs neighborhoods are selling?

Coral Springs home sales in the subdivisions of Butler Farms, Chevy Chase, Coral Creek, Cypress Glen, Cypress Run, Eagle Trace, Kensington, Maplewood, Pine Ridge, Ramblewood and Wyndham Lakes is where most homes were selling during October 2014 with Ramblewood neighborhood out front this month with having sold 14 homes!

Coral Springs luxury home sales were found in The subdivisions of Eagle Trace, Heron Bay, Isles Addition, Mariners Cove, Running Brook Hills,  Whispering Woods and Wyndham Lakes (Grand Isle) 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

$139,999 -$199,999            3

$200,000 -$249,999            13

$250,000 -$299,999            31

$300,000 -$399,999            52

$400,000 -$499,999            13

$500,000 -$749,999            5

$750,000 -$1million+          2

 

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 October 2014 written by Coral Springs Realtor Lynn Pineda with Keller Williams Realty Coral Springs on Nov 28, 2014. Based upon local MLS Statistical findings. Accuracy is not guaranteed. Coral Springs REALTOR® provided.

___________________________________________________________________________

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 article 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.

All rights reserved. Copyright protected.

 


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