Coral Springs FL Single Family homes sales for the 2nd Qtr 2019
How did homes sell in Coral Springs FL for the 2nd Qtr ending 2019? 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 2nd qtr for 2019.
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
Ending the 2nd qtr of 2019, 402 homes sold averaging 134 homes sold per month , which is up from the 1st qtr 2019 where we saw an average of 93 homes sold.
402 homes sold during the 2nd qtr ending 2019, which averages selling 134 homes a month
Median Sales Price
$415,000 was the median sales price, which is up from 1st quarter ending 2019.
$415,000 was the median sales price ending the 2nd qtr 2019 in Coral Springs. Up from $400,000 1st quarter ending 2019.
Days on the market (DOM) before homes sold
Homes were on the market for 27 days before they sold. Sold faster than the 1st qtr.
Supply of Homes
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 had decreased since 1st quarter ending 2018, where the supply showed 4.4 months.
Absorption Rate (rate in which homes are absorbed/sold)
How many homes are being bought by home Buyers in Coral Springs; what is being absorbed by them? Currently, it shows that just over 49% of homes are being “absorbed” by these home Buyers. A strong indicator of a Seller’s market in Coral Springs
More homes have been sold as compared to the 1st quarter 2019.
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.
Through the second quarter of 2019, the Real Estate market continues to be a Seller’s market. The trend continues within the 2nd quarter of 2019.
Neighborhoods selling in Coral Springs Florida
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.