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Coral Springs FL Real Estate Market Report July  2014

Homes for sale in Coral Springs FL – Market Report July 2014.

What’s going on in the Coral Springs Real Estate market? Here I’ll discuss homes for sale in Coral Springs, what homes sold 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. This reports home sale activity in all of Coral Springs. Call me if you need to know about your specific neighborhood home sales at 954-464-1100.

Coral Springs FL Real Estate Market Report July 2014

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

 

 

   Market               May            June         July                 July

  Statistics         2014            2014           2014                    2013

 

Median Price

$330,000

$337,500

$335,000

prior

year →

$325,000

Price per Sq Ft

$151.30

$144.20

$148.50

prior

year →

$135.30

Homes Sold

125

128

116

prior

year →

120

Days on the Market

24 days

36 days

32 days

prior

year →

17 days

Absorption

Rate *

3.67%

3.79%

4.17%

prior

year →

1.76%

Seller or

Buyers

Market **

Seller’s

Market

Seller’s

Market

Seller’s

Market

prior

year →

Seller’s

Market

Distressed

Properties ***

11.57%

21.88%

12.93%

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?

 

During July we saw a decline in homes sold in Coral Springs compared to June home sales.  The inventory of homes has inched up to having over a 4 months supply of homes compared to June’s lower supply of homes for sale. We continue to experience a Seller’s Market in Coral Springs. 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. However, from the chart above you’ll see the Real Estate market has changed from a year ago where the supply of homes was just over 1 month; homes couldn’t be listed for sale fast enough for Buyers to snag them up. Current market conditions don’t reflect such a feverish demand for homes with having over 4 months supply. This can calm a Real Estate market leading to a more balanced market while easing price appreciation.

 

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.

 

Distressed Property Sales *** (includes Short Sales and Lender/Bank owned) during July has showed a decrease to just under 13% as compared to June’s reported distressed property home sales at just under 22%:

 

    • 7.76% of market sales were Short Sales during July; decreasing from June’s rate at a high of 13%.   

    • 5.17% were REO/Bank Owned homes; also decreasing from June at over 15%   

 

These distressed property declines in sales were quite substantial, as we continue to see this uncertainty in Short Sales and Bank owned foreclosures.

 

 

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, North Springs, Oakwood, Pine Ridge, Ramblewood, Shadow wood, The Preserve, Turtle Run, Vizcaya, West Glen, Westchester and Wyndham Lakes is where most homes were selling during July 2014 with Wyndham Lakes 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, Grand Isle/Wyndham Lakes, and Venetian Isles and 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          17

$250,000 -$299,999          18

$300,000 -$399,999          53

$400,000 -$499,999          20

$500,000 -$749,999            4

$750,000 -$1million+          1

 

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. 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 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 July 2014 written by Coral Springs Realtor Lynn Pineda with Keller Williams Realty on Aug 27, 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. 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. Copyright protected.

 


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