Coral Springs FL Real Estate Market Report April 2014
So just how is the Coral Springs Real Estate market doing? Coral Springs Real Estate Market for April 2014 results are being reported here. Should you sell your home now? Read more below about recent Coral Springs Real Estate home sales and how it will affect selling your home and if you’re buying a home in Coral Springs, take a closer look to see what you can expect when you begin to search.
Coral Springs Single Family Home Prices
During April, Coral Springs’ home sales increased while the values declined a bit signaling some settling in the market with Real Estate prices.
Coral Springs Real Estate Report Market Summary
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Single Family home sales increased during April having sold 93 homes; 82 homes had been sold in Coral Springs during March.
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The median sale price increased during April to $335,000 roughly 9.00% from March’s median price of $307,000, pleasing many home Sellers; March’s reported Coral Springs home sales.
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The number of days that homes remained on the market before selling declined slightly to a median of 42 days compared to March at 44 days; moving at a nice pace.
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Distressed Property Sales showed a move back up to almost 24% during April from March’s rate of 15.96%:
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Almost 13% of market sales were Short Sales; increasing from March at almost 10%.
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Almost 11% were REO/Bank Owned homes; also increasing from March at over 6%.
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The shadow inventory of homes in a Pre Foreclosure status continue to be just that, “shadows not yet coming to market”. Lenders continue to wait, watching for price appreciation before they foreclose to lessen their losses.
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What does it all mean to you? What are Coral Springs FL Real Estate trends? Where is our Real Estate Market headed?
With prices steadily rising, more Sellers are able to sell their homes or are more interested in selling their homes in hopes of greater profits from the sale of their home. With more Sellers now listing their homes for sale, the inventory of homes increasing, signals a continued move away from a Seller’s market to a Balanced market and then on it’s way to a Buyer’s market, no longer giving Seller’s a stronghold in the local Coral Springs Real Estate market. We’re still in a Seller’s market, as the Absorption Rates shows a rate of 4.29%, which show the available inventory of homes (4.29 months supply of homes) which was 4.69% in March. (Absorption rates will vary by neighborhood. If you’d like to know more about your neighborhood Absorption rate, I’d be happy to discuss it further with you.) Once you reach an Absorption Rate of 6%, we’d be considered experiencing a Balanced market between Sellers and Buyers. The trend is taking us towards a Buyer’s market where Buyers will place more demands upon Sellers. “Should I sell my home now?”, you ask. When the inventory of homes is below a 6 months supply, you as a Seller, will have the upper hand with greater opportunities for price appreciation. As the inventory of homes increases, Buyers will have more homes to choose from and they won’t have to face heavy bidding competition with other Buyers because there are enough homes for everyone! Don’t wait for Buyers to have too many choices. If you want to sell your home in Coral Springs, call me and I can tell you how I’ll get your home sold for top dollar and fast! Remember, when the market turns to excess inventory, the price and timeline of selling your home can be affected adversely. As long as interest rates continue to stay at current levels for the year, as predicted along with the continued easing of financing requirements for Buyers, the demand for homes should remain constant.
Let’s look at year over year from April of last year 2013. A year ago April the median home sales price was $270,000, showing today’s median price being an increase of about 24% in one year’s time.
Feel free to call me at 954-464-100 or email me: LynnP@ImagineYourHouse.com with your questions.
Do you live in any of the Coral Springs neighborhoods below?
The subdivisions of Coral Springs Country Club, Cypress Run, Kensington, Maplewood, North Springs, Oakwood, Ramblewood, Shadow wood, Turtle Run and Wyndham Lakes had home sales in the largest of numbers during April 2014 with Ramblewood and Kensington neighborhoods topping out again this month with having sold 8 homes each!
Coral Springs Luxury subdivisions of Eagle Trace, Heron Bay, The Isles, Venetian Isles and Whispering Woods sold luxury homes in their neighborhoods.
If you don’t see your subdivision listed here and want to find out more about selling a home in your neighborhood, feel free to call me at 954-464-100 or email me: LynnP@ImagineYourHouse.com
What are the price ranges that homes are being sold at? What are the concentrated price points when selling your home here in Coral Springs? Paying attention to the price points allow you to price your home for maximum success to get it sold. Where does your home fit in? Do you need to know, “how much is my home worth?”
Price Range Quantity
$140,000-$199,999 3
$200,000 -$249,999 10
$250,000 -$299,999 12
$300,000 -$399,999 45
$400,000 -$499,999 17
$500,000-$749,999 6
$750,000-$1million+ 0
More about home selling in Coral Springs
Do you want an accurate Real Estate value of your home in Coral Springs? I won’t tell you what you want to hear, but rather what you can sell your home for in today’s South Florida Real Estate Market. Many Realtors will “buy” your listing by simply agreeing with you for whatever you’d like to sell your home for and this will do you more harm than good. Pricing your home high and then having to reduce the price because your home is not 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 that is and has been statistically proven. Call me, email me or click here: Find out my Home’s Value in Coral Springs Florida.
As your 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 selling process and home prices in Coral Springs, please feel free to call me or email. Call me at 954-464-1100 or email me at LynnP@ImagineYourHouse.com.
