Selling a home in Coral Springs– What sold in your neighborhood during July 2011?
Coral Springs single family home sales decreased this month by just over 3% or 85 homes sold which continues to reflect happy selling. Of these Coral Springs homes listed for sale below, almost 13% of them sold as a Short Sale, which is a decline from last month. Whereas, just over 16% of the homes sold were sold as REO/Bank owned which is a pretty much the same to last month. Almost 29% of homes sold in Coral Springs were distressed properties during July 2011; those homes that have been foreclosed on and those homes which are trying to avoid being foreclosed upon. This is another decrease this month from last month yet it still indicates that distressed properties on the market are still competing with non-distressed Sellers selling their homes in Coral Springs which continues to keep prices down. However, a slight increase this month of non-distressed homes selling meaning that the prices of these homes were a bit more attractive during July to Buyers. As previously reported, distressed properties will continue to be a major force of selling competition here in the South Florida Real Estate market for quite some time. To compete with the distressed market, pricing is key as it is one of the things that Sellers can control.
For those of you selling a home in Coral Springs, you’ll see below that homes that were sold during July had significant sales this month decreasing from last months strong price point of $300,000 – $349,999 back to the heavily populated $200,000 – $249,999 price point this month.. Sales in the higher price points continued to increase in July expanding into even higher price points which is good news for those who have been trying to sell their homes.
The median price is $272,000 this month. Keep in mind, when pricing your home for sale 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. During the last several months, we continue to see a break out above the usually heavily populated range of $200,000 – $249,999. All good to hear.
Price Range Quantity
$149,999 or under 1
$150,000 -$199,999 9
$200,000 -$249,999 25
$250,000 -$299,999 19
$300,000 -$349,999 12
$350,000 -$399,999 8
$400,000 -$449,999 4
$450,000 -$499,999 3
$500,000 -$549,999 1
$550,000 -$599,999 2
$600,000 -$699,999 0
$700,000 -$799,999 0
$800,000 -$899,999 1
$900,000 -$999,999 0
$1,000,000 or over 0
Total Homes Sold in Coral Springs – 85
Number of days that homes were on the Market:
0-30 Days 31-60 Days 61-90 Days 91-120 Days 120+ Days
Breakdown % 27.06% 16.47% 15.29% 15.29% 25.88%
*Avg % SP/LP 95.87% 97.24% 95.61% 94.55% 96.47%
* This row indicates what percentage of the list price that the home sold for during July. Listing a home to sell at the right price to begin with in days 0 -60, as you see, will achieve a higher percentage of your list price whereas if you were willing to wait out 120+ days ending this month, you’ll achieve a bit closer to your list price. Do you have the luxury of time?
