Coral Springs FL Real Estate Market Stats
Single Family Home sales in Coral Springs Florida during February 2017
Find out about the Coral Springs FL Real Estate Market in my monthly publication on home sales in Coral Springs Florida. How were home sales in Coral Spring during February 2017? What’s selling?!
In today’s monthly market report we’ll uncover the following:
- The number of homes sold in Coral Springs.
- The median home prices in Coral Springs
- The median square foot prices in Coral Springs
- How many days on the market before homes were selling in Coral Springs?
- The absorption rate (level of supply/inventory) in Coral Springs
- Seller’s Market, Balanced Market or Buyer’s Market.
If you have a particular question about the Coral Springs Real Estate market, be sure to reach out to me via email, phone or text. If not immediately available, know that I will get back to you before you know any time has lapsed! Selling homes is what I do!
Today’s report is for February 2017. Let’s find out about home sales in Coral Springs. The particulars:
Home sales during February increased back up to having sold 96 homes, while Coral Springs continues to experience a Seller’s market. Know that as the name implies, a Seller’s market favors those who want to sell a home in Coral Springs.
Coral Springs Real Estate Market Summary for February 2017, in comparison:
|wdt_ID||Market Stats||Median Sales Price||Sq Ft Price||Homes Sold||DOM||Distressed||Supply|
|1||Dec 2016||$368,000||$162.00||107||35 days||18.69%||2.35|
|2||Jan 2017||$373,000||$159.50||65||23 days||17%||2.70|
|3||Feb 2017||$360,500||$164.60||96||42 days||5.09%||3.02|
Absorption and Inventory Supply Reported in Coral Springs
The supply of homes or inventory level 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 the current inventory of homes for sale should no other homes hit the market for sale in Coral Springs, based upon prior month home sales.
The current absorption rate for February is 33% and the inventory supply is at 3.02 showing it would take Coral Springs just over 3 months to sell the current inventory of homes, should no other homes come to market! Both signaling a continued Seller’s market where a homeowner’s odds are increased for a quicker sale when their home is priced right.
Absorption rates measure the rate in which the current inventory supply will be absorbed into the market based upon prior months of home sales, which will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market. Absorption rates of 20% and higher reflect a Seller’s Market and 15% and under reflect a Buyer’s market, while a Balanced market hovers in between the two.
Typically, when there is less than 6 months of inventory supply we’re in a Seller’s Market, 6 months of inventory supply we’re in a Balanced/Stable market and over 6 months inventory 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 also. When selling a home, it’s important to know your neighborhood absorption rate for a number of reasons so you know how to best position your home for sale.
Call me/text me 954-464-1100 now or email me, and I can tell you your local neighborhood absorption 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). The overall distressed rate during February decreased nicely to just over 5%. Fabulous news, when the distressed rate declines month after month.
If you’re a distressed homeowner and foreclosure seems to be closing in on you, Find out how to avoid it.
Neighborhoods selling in Coral Springs
Many Coral Springs neighborhoods benefited from multiple single family home sales that include Coral Springs Country Club, Butler Farms, Cypress Run, Eagle Trace, Heron Bay, Kensington, Maplewood, Pine Ridge, Ramblewood and Wyndham Lakes.
Ramblewood again, had homeowners excited this month with having sold 18 homes! Are you moving to Coral Springs – perhaps Ramblewood would be the perfect spot for you to call home!
More about selling your home in Coral Springs
Do you want to know the value of your home in Coral Springs? Have you been looking at common Real Estate website portals such as Zillow, Trulia and more to determine your home’s value? STOP. These websites prove to be grossly inaccurate. When you really think about it, how can a website algorithm know what’s in the interior of your home or know that you just replaced your roof, added a pool and upgraded your landscaping? Impossible. Now, it’s starting to make more sense, I’m sure.
I can tell you what your home is worth in today’s South Florida Real Estate Market after speaking with you. 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. I have a track record of high list price to sales price ratios and being spot on in comparison to Real Estate appraisals.
Find out how I’d help you when you’re thinking; “ I’m considering selling my home? ” – Lynn Pineda
Find out – “how much is my home worth?” Call for your complimentary analysis of your home’s value.
Book an Appointment Now to learn more about the local Coral Springs Real Estate Market or when you’re thinking; “I need to sell my home in Coral Springs” or “I need to buy a home in Coral Springs”. Call/Text Lynn at 954-464-1100 or email Lynn at LynnP@ImagineYourHouse.com
Coral Springs FL Real Estate Market Report for February 2017 written by your neighborhood Coral Springs Realtor, Lynn Pineda with Keller Williams Realty Coral Springs. Based upon local MLS Statistical findings. Accuracy is not guaranteed. Top Coral Springs REALTOR® provided. Real Estate Agent delivering on promises.
Lynn hopes you enjoyed the most recent report on homes selling in Coral Springs. You’ll also find Lynn selling homes in Southeast Florida in the cities of Boca Raton, Coral Springs, Parkland, Margate, Sunrise, Tamarac, Coconut Creek, Boynton Beach, Delray Beach and surrounding cities within Broward and south Palm Beach counties.