Coral Springs FL Single Family homes sales for the 1st Qtr 2020

 

 

 

 

Home Sales in Coral Springs Florida – all about Coral Springs FL Real Estate Market

How did homes sell in Coral Springs FL for the 1st Qtr ending 2020? Where has the market been…up or down or no change? I’ve been reporting all about home sales in Coral Springs for many many years  trying to keep residents and visitors of Coral Springs in the know when it comes to their local Real Estate and for those wanting to move to Coral Springs too. Always know that when you’re in the know you’ll be able to make the best decision for you and your family.

Are you selling a single family home in Coral Springs? What will matter to you?

Knowing these important Real Estate market statistics will help any home Seller knowing how to best position their home for sale in Coral Springs Florida. In addition, the home Buyer in Coral Springs will know about what they’re up against and how to best position any offer that they have for a home their considering to buy. Let’s jump in and discover how the Coral Springs Real Estate market performed ending out the 1st qtr for 2020.

In today’s Real Estate market report, we’ll answer the following questions for single family homes:

 

  • How many homes sold in Coral Springs?
  • What is the Median home sales price in Coral Springs?
  • How long did it take for homes to sell in Coral Springs?
  • What’s the inventory level (supply) of homes available for sale?
  • What’s the absorption rate in Coral Springs?
  • And is it a Seller’s Market, Balanced Market or Buyer’s Market in Coral Springs Florida?

 

Number of Homes Sold in Coral Springs

Ending the 2nd qtr of 2019, 282 homes sold averaging 94 homes sold per month, a decline from 2019 homes sales in Coral Springs.

 

282 homes sold during the 1st qtr ending 2020, which averages selling 94 homes a month

Median Sales Price in Coral Springs

$399,750 was the median sales price ending the 1st qtr 2020 in Coral Springs. 

 

Coral Springs FL Real Estate Market

Days on the market (DOM) before homes sold in Coral Springs

Homes were on the market for 39 days before they sold. Taking a bit longer to sell in 2020.

 

Supply of Homes in Coral Springs

The supply of homes indicates what the inventory level is of homes currently available for sale in Coral Springs. Should no other homes enter the real estate market for sale in Coral Springs it would take just over 2 months to sell what is currently active for sale based on prior reported home sales.

The supply of homes continues to not meet the demand of prospective home buyers.

 

Absorption Rate (rate in which homes are absorbed/sold) in Coral Springs

How many homes are being bought by home Buyers in Coral Springs; what is being absorbed by them? Currently, it shows that almost 43% of homes are being “absorbed” by these home Buyers. A strong indicator of a Seller’s market in Coral Springs continues in 2020.

 

It’s a Seller’s Market in Coral Springs Florida

Typically, 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.

It’s always important to understand, that the type of Real Estate market will vary by city, right down to the specific neighborhood. When you hear another city is experiencing a Buyer’s market, for example, it does not mean that the same Real Estate activity holds true for you, in Coral Springs. You’ll always want to speak with a skilled Real Estate professional to get the specifics depending upon where you live.

 

Neighborhoods selling in Coral Springs Florida

Top selling neighborhoods  were Coral Springs Country Club, Cypress Glen, Cypress Run, Kensington, Pine Ridge, Ramblewood, West Glen, Wyndham Lakes, and for luxury homes Eagle Trace led the way for 1st quarter ending 2020

 

Coral Springs Real Estate Market Report prepared by local Coral Springs Realtor with eXp Realty, Lynn Pineda. Delivering Real Estate Promises, while selling homes since 2005.

The results reported here are based upon local MLS reporting and are not guaranteed.

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