Coral Springs Real Estate Report for May 2015

 Real Estate Market Report for Coral Springs

Here you’ll read the current Coral Springs’ Home Sales Report to see what’s going on in the local Coral Springs Real Estate market. You’ll find the most recent report for May 2015 for single family homes. It’s all about homes for sale in Coral Springs FL and what’s selling.

 

The report 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. Let’s find out what went on in the Coral Springs Real Estate Report for May 2015.

 

The local Coral Springs Real Estate market remained steady with home sales showing home Sellers that Buyer’s are buying homes and the inventory is moving pretty fast in the current Seller’s market with stable home prices as the chart below details.  As a Seller, this is what you like to hear when it’s time to get your home on the market to sell.

 

Coral Springs Real Estate Market Summary for May 2015, in comparison:

 

 

Home Prices in Coral Springs

 

  Market                   Mar             Apr           May                             May

  Statistics                2015           2015         2015                       2014

Median Price

$334,425

$337,450

$335,100

prior

year →

$330,000

Median

Price per Sq Ft

$145.70

$146.90

$149.60

prior

year →

$151.10

Median (DOM)

Days on Market

68 days

35 days

36 days

prior year→

24 days

Average Price

$375,867

$344,695

$339,136

prior

year

$338,667

Average

Price per Sq Ft

$145.50

$146.40

$147.80

prior

year

$145.80

Average (DOM)

Days on Market

88 days

66 days

60 days

prior

year

47 days

Homes Sold

105

121

117

prior

year →

128

Absorption

Rate

3.51%

3.27%

3.62%

prior

year →

3.67%

Seller/Balanced/

Buyers

Market **

Seller’s

Market

Seller’s

Market

Seller’s

Market

prior

year →

Seller’s

Market

Distressed

Properties ***

20%

26.45%

20.51%

prior

year →

11.57%

 

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 May 2015 sell at a steady impressive pace as we continue into a solid Seller’s Market as we near the end of the second quarter of 2015. June sales yet to be reported. Check back for the closing second quarter report. Distressed properties remain at above 20% of the market. Are banks increasing their pressure to move up foreclosures still?

 

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 the current inventory of homes for sale.  The current Absorption rate reflective of May’s home sales in Coral Springs is 3.62%. Buyers are swooping up homes during the summer months.

 

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 also.  When selling a home, it’s important to know your neighborhood absorption rate for a number of reasons.

 

Call me/text me now or email 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 May decreased to 20.51%, which is down from last months at 26%:

 

    • 9% of market sales were Short Sales during May  

    • 15% were REO/Lender/Bank Owned homes during May

 

 

Neighborhoods selling in Coral Springs

 

Homes were selling in the neighborhood of Butler Farms, Chevy Chase, Coral  Creek, Coral Springs Country Club, Cypress Glen, Cypress Run, Eagle Trace, Forest Hills, Heron Bay, Kensington, Maplewood, North Springs, Oakwood, Pine Ridge, Ramblewood, Shadow wood, The Crossings, West Glen, Whispering Woods and Wyndham Lakes. This month Cypress Run is the hot selling neighborhood having sold 12 homes! Cypress Run is a Coral Springs favorite indeed! Are you looking to sell a home in Cypress Run or any of Coral Springs’ other great neighborhoods?! I sell homes in Coral Springs. Call me now!

 

Coral Springs luxury home sales were found in the neighborhoods of Coral Springs Country Club, Eagle Trace, The Isles, Mariners Cove and Whispering Woods.

 

Do you want to find out more about your neighborhood and it’s home’s 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

 

$100,000 -$119,000             0

$120,000 -$139,999         1    

$140,000 -$159,999          0

$160,000 -$199,999          5     

$200,000 -$249,999             16  

$250,000 -$299,999             19

$300,000 -$399,999             64

$400,000 -$499,999             17

$500,000 -$749,999             6

$750,000 -$1million+           0

 

More about selling a home 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.

 

Book an appointment now to learn more about the local Coral Springs Real Estate Market when it’s time to sell a home in Coral Springs Florida. Call/Text  Lynn at 954-464-1100 or email Lynn at LynnP@ImagineYourHouse.com

 

 

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.

 

Coral Springs FL Real Estate Home Sales Market Report for May 2015 written by your neighborhood Coral Springs Realtor, Lynn Pineda with Keller Williams Realty Coral Springs on June 30, 2015. 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 Market Report 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.

 

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