Coral Springs Market Report for August 2012 – looks good!

 

Coral Springs homeowners will be happy to hear that single family home sales during August 2012 increased over 26% to 118 Homes sold from July 2012. Bustling Coral Springs home sales activity always good to hear especially if you’re thinking about selling your home in Coral Springs.

Coral Springs single family home sales market continues to trend increasing values, as this month shows the median home sale price to be reported at $269,500 up again this month from August’s median price of $265,000, a 1.7% increase.

How is the Distressed market fairing within Coral Springs? It remains relatively the same as last months distressed market report indicating just over 37% of all home sales were that of distressed properties yet, more Short Sales closing (27%+) and less REO/Bank Owned/Foreclosures (10%+). Unfortunately, many of our fellow neighbors in Coral Springs continue to be affected by tough times as they’re wanting to sell home as a Short Sale in Coral Springs to avoid being a participant in a Foreclosure.

If you’ve been following my monthly Coral Springs home sales Market Reports, you know what the Absorption Rates have been showing us as Coral Springs residents and this past month of August, proves to be yet another favorable rate to Sellers; 1.95%! When you price your home right and present it right, you can expect to sell it within less than 2 months. Homes continue to sell quicker, as each month has been trending. I continue to see my home listings get offers within days of listing and several offers will come in on my Seller’s homes for sale; selling is brisk! Continued lower Absorption rates can affect future increases in home prices. We are experiencing a Sellers Market in Coral Springs. Prices increased again this month. (Keep reading further)

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 Kensington and Maplewood in Coral Springs had brisk home sales this month coming out on top with having sold 8 homes each! 

Below are how the remaining neighborhoods fared:

Beachwood Heights 3  Brookside 2   Butler Farms to include Hidden Hammocks 5   

Coral Creek 4 to include Grand Reserve and Windor Bay    Coral Springs Country Club 4

Cypress Run 4   The Dells 

Eagle Trace 5 to include Eagle Point and The Fairways

Heron Bay 4  to include The Falls, Villa Sorrento and Tuscany

Kensington 8 to include Glen, Gardens, Green, Knightsbridge and Sanctuary  

Maplewood  8 to include Additions, Isles and St. Johns Woods    North Springs

Pine Glen 2   Pine Ridge 5   Ramblewood 5 

Royal Land  2 to include Carriage Point Estates and Coventry  Shadowwood 3

Springs Park 2    Turtle Run 3  West Glen  2

Wydham Lakes 7 to include Coventry Cove, Pelican Trail, Pelican Isles, Grand Isle and Golden Bay

Where should you price your home? Consider price points when setting a price to sell your home in Coral Springs as I discuss each month. Knowing the price points, can let you know where the percentages of Buyers are shopping for a home. 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.

Again, remember that 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.

Price Range           Quantity

$149,999 or under        5

$150,000 -$199,999     14

$200,000 -$249,999     26

$250,000 -$299,999     27

$300,000 -$349,999     22

$350,000 -$399,999     9

$400,000 -$449,999     10

$450,000 -$499,999     2

$500,000 -$549,999     0

$550,000 -$599,999     0

$600,000 -$699,999     1

$700,000 -$799,999     0

$800,000 -$899,999     1

$900,000 -$999,999     0

$1,000,000 or over       1

Total                         118

Days on The Market before Selling

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

No. of Listings           51               22                   11                     11               23

Breakdown %       43.22%        18.64%           9.32%             9.32%      19.49%

Avg % SP/LP*        96.55%        94.8%            96.01%          95.06%    97.38% 

* This row indicates what percentage of the list price that the home sold (sales price) for during June 2012.

As your local Coral Springs REALTOR®, I’d be glad to help you determine the best price to help you sell your home in Coral Springs. Or if you simply have questions about the selling process, please feel free to call me or email. Or if you want to know your home’s value, just call me or email me. Call me at 954-464-1100 or email me at LynnP@ImagineYourHouse.com. Talk to you soon.

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