Year Ending Review 2017 – Coral Springs FL Real Estate Market
Find out about the Coral Springs FL Real Estate Market in this monthly publication on home sales in Coral Springs Florida. How were home sales in Coral Springs during December 2017 and how did the year end up?
In today’s monthly market report we’ll uncover the following:
- The number of homes sold in Coral Springs.
- The median home prices in Coral Spring
- The median square foot prices in Coral Springs
- How many days on the market (DOM) before homes sold in Coral Springs?
- The level of distressed homes
- The absorption rate/level of supply and inventory in Coral Springs
- Seller’s Market, Balanced Market or Buyer’s Market.
Be sure to reach out to me via email, phone or text if you need your Real Estate question answered about the Coral Springs Real Estate Market as selling homes is what I do!
Today’s report is for December 2017. Let’s find out about homes sold in Coral Springs.
94 single family homes sold in Coral Springs during December – a decrease from last month’s home sales in Coral Springs.
Coral Springs Real Estate Market Summary for Dec 2017, in comparison:
Home Prices in Coral Springs – at a glance
wdt_ID MARKET STATS MEDIAN SALES PRICE SQ. FT. PRICE HOMES SOLD DOM DISTRESSED SUPPLY SELLERS/BALANCED/BUYERS 1
Absorption Rates And Inventory Supply Reported In Coral Springs FL
How many homes are available for sale to meet the demand of Buyers? Here I illustrate how many months it would take to sell the current inventory of homes for sale should no other homes hit the market for sale in Coral Springs based upon prior month home sales and what is being absorbed by home Buyers.
Absorption rates measure the rate in which the current inventory supply will be absorbed into the market based upon prior months of home sales, which will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market. Just under 35% of the homes listed for sale were absorbed by home Buyers; a slight reduction from November’s reported numbers.
Absorption rates continued to trend toward less homes being absorbed by Coral Springs home buyers, as we close out 2017. Will this trend continue into the new year where we’ll being shifting towards a more balanced market? This is appearing to be the case.
Just under 35% is the current absorption rate for December – a continued trend of less homes being absorbed by Coral Springs home Buyers.
Typically, absorption rates of 20% and higher reflect a Seller’s Market and 15% and under reflect a Buyer’s market, while a Balanced market hovers in between the two.
Supply/Inventory: currently, should no other homes enter the market for sale, it would take 2.87 months to sell the current supply of homes/inventory level; still indicating the market is still favoring Sellers in a Seller’s market.
The supply of homes for sale this month increased again during December to 2.87 months.
Remember as reported from prior month’s reports, absorption rates above 20% and inventory supply of less than 6 months is reflective of a Seller’s Market. Coral Springs continues in a Seller’s market. Buying a home in Coral Springs can be challenging to find a home. Make sure you speak with a Coral Springs Realtor, like myself, who can help you when selling a home or buying a home in Coral Springs.
Also, when there is less than a 6 months of inventory supply we’re in a Seller’s Market, 6 months of inventory supply we’re in a Balanced/Stable market and over 6 months inventory supply of homes reflects a Buyer’s market.
The absorption rates and supply/inventory levels that I report here are for all of Coral Springs, however, keep in mind that these rates can vary by neighborhood and will vary by city also. When selling a home, it’s important to know your neighborhood rates/levels for a number of reasons, including knowing how to best position your home for sale.
Call me/text me now or email me, and I can tell you your local neighborhood absorption rate so you know how to best position your Coral Springs home for sale.
Are you thinking; “I’m considering selling my home?”
Distressed Property Sales (includes Short Sales and REO/Lender/Bank owned) increased this month to 10.64%, which is a jump from October’s rate.
If you’re a distressed homeowner and foreclosure seems to be closing in on you, Find out how to avoid it.
Coral Springs Neighborhood Sales:
Homes for Sale in Ramblewood area won this month with having sold 10 homes!
The luxury neighborhoods in Coral Springs revealed home sales in Whispering Woods, Maplewood Isles, Heron Bay and Eagle Trace.
More about selling your home in Coral Springs
Do you want to know the value of your home in Coral Springs? Have you been looking at common Real Estate website portals such as Zillow, Trulia and more to determine your home’s value? STOP. These websites prove to be grossly inaccurate. When you really think about it, how can a website algorithm know what’s in the interior of your home or know that you just replaced your roof, added a pool and upgraded your landscaping? Impossible. Now, it’s starting to make more sense, I’m sure.
I can tell you what your home is worth in today’s South Florida Real Estate Market after speaking with you. 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. I have a track record of high list price to sales price ratios and being spot on in comparison to Real Estate appraisals.
Find Out How I’d Help You When You’re Thinking; “ I’m Considering Selling My Home? ” – Lynn Pineda
Find out – “how much is my home worth?” Call for your complimentary analysis of your home’s value.
Also be sure to read my article titled; “Why is my home’s initial list price so important?” to discover the so important list price of your home when you initially list your home for sale.
Book an appointment now to learn more about the local Coral Springs Real Estate Market or when you’re thinking; “I need to sell my home in Coral Springs” or “I need to buy a home in Coral Springs”. Call/Text Lynn at 954-464-1100 or email Lynn at LynnP@ImagineYourHouse.com
Coral Springs FL Real Estate Market Report for December 2017 written by your neighborhood Coral Springs Realtor, Lynn Pineda with Keller Williams Realty Coral Springs. Based upon local MLS Statistical findings. Accuracy is not guaranteed. Top Coral Springs REALTOR® provided. Real Estate Agent delivering on promises.
Lynn hopes you enjoyed the most recent report on homes selling in Coral Springs. You’ll also find Lynn selling homes in Southeast Florida in the cities of Boca Raton, Coral Springs, Parkland, Margate, Sunrise, Tamarac, Coconut Creek, Boynton Beach, Delray Beach and surrounding cities within Broward and south Palm Beach counties.
Call Lynn now for home selling tips at 954-464-1100 and don’t forget to visit our Real Estate Blog where a wealth of Real Estate information is shared.