Coral Springs FL Real Estate Market Report June 2014

Staying on top of your local Real Estate market will always prove to be valuable in preparation for when its time for you to sell your home or buy a home here in Coral Springs, Florida. Here I’ll discuss Coral Springs single family home sales and the local Coral Springs Real Estate market to include, home sale prices, their comparison to prior months, how long it takes for homes to sell, home inventory levels and how that may benefit you depending upon whether you’re a home Seller or a home Buyer, along with where the Real Estate market is heading. So just how is the Coral Springs Real Estate market doing?

Coral Springs Real Estate Market

Coral Springs FL Real Estate Market Single Family Home Prices; market summary for June 2014, in comparison:

 

 

   Market               April            May         June               June

  Statistics          2014             2014            2014                     2013

 

Median Price

$335,000

$330,000

$337,500

prior

year →

$315,000

Price per Sq Ft

$143.70

$151.30

$144.20

prior

year →

$130.50

Homes Sold

95

125

128

prior

year →

120

Days on the Market

43 days

24 days

36 days

prior

year →

22 days

Absorption

Rate *

4.29%

3.67%

3.79%

prior

year →

1.88%

Seller or

Buyers

Market **

Seller’s

Market

Seller’s

Market

Seller’s

Market

prior

year →

Seller’s

Market

Distressed

Properties ***

24%

11.57%

21.88%

prior

year →

24%

 

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

 

This month of June we saw almost a 3% increase in more homes sold in Coral Springs than had been reported sold during May and just over a 2.27% increase in the median price.  Coral Springs home sales continue at a zippy pace.  With home sales inventory remaining at just under 4%, we continue to experience a Seller’s Market. A Seller’s market, as it implies, favors home Sellers. When a home comes to market, priced well and presented well, it is going to be an immediate draw to a Buyer which can routinely lead to multiple Buyers having an interest in the home. This supply of homes describes Absorption* rates; how many homes are available for sale to meet the demand of Buyers as indicated in prior month sales. Currently, demand exceeds supply which we know can drive up selling prices. Absorption rates will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market** . Less than 6 months of inventory is a Seller’s Market. 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.  When selling a home, it’s important to know your neighborhood absorption rate.  Call me and I can tell you your local neighborhood rate.

 

Steady home sale price increases are much more welcome than any steep price increases as experienced back in the 2006/2007 years. We can see from the Coral Springs FL Real Estate Market from a year ago June that favored homes selling at a more brisk pace compared to most recent Coral Springs home sales of June 2014 reflecting a more steady constant pace in inventory level, number of homes sold, home prices and days on the market.

 

Distressed Property Sales *** (includes Short Sales and Lender/Bank owned) during June has showed a increase to almost 22% as compared to May’s reported distressed property home sales at 12%:

 

    • 13% of market sales were Short Sales during June; increasing from May at almost 8%.   

    • 15% were REO/Bank Owned homes; also increasing from May at over 4%   

The increase in distressed property sales illustrates that Short Sales and Bank owned/Foreclosed properties continue to be a part of our local Coral Springs Real Estate Market and will demonstrate this uncertainty in such fluctuations from month to month during 2014 and into 2015.

 

 

What Coral Springs neighborhoods are selling?

 

Coral Springs home sales in the subdivisions of Coral Springs Country Club, Cypress Glen, Cypress Run, Eagle Trace, Heron Bay, Kensington, Maplewood, North Springs, Oakwood, Pine Ridge, Ramblewood, Shadow wood, West Glen and Wyndham Lakes is where most homes were selling during June 2014 with Pine Ridge neighborhood topping out this month with having sold 11 homes!

 

Coral Springs luxury home sales were found in the subdivisions of Eagle Trace, Heron Bay, L’Hermitage,The Isles, Venetian Isles 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

 

$139,999 -$199,999            2

$200,000 -$249,999 8

$250,000 -$299,999 32

$300,000 -$399,999 62

$400,000 -$499,999           15

$500,000 -$749,999            7

$750,000 -$1million+          2

 

More about home selling in Coral Springs

 

Do you want an accurate Real Estate value of your home in Coral Springs? I won’t tell you what you want to hear, but rather what you can sell your home for 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. Many Realtors will “buy” your listing by simply agreeing with you for whatever you’d like to sell your home for, which will do you more harm than good as there will be a later point in which you will need to reduce your price in order to sell your home; this method routinely brings a lower sales price.  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 and Real Estate 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 June 2014 written by Coral Springs Realtor Lynn Pineda with Keller Williams Realty on July 29, 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 for 9 years serving Coral Springs Florida and surrounding Southeast Florida.  Keller Williams Coral Springs Realty.  July 29, 2014. Real Estate Promises Delivered.  You can speak with  Lynn by calling 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.

 

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