Coral Springs FL Single Family homes sales for the 1st Qtr 2019
How did homes sell in Coral Springs FL for the 1st 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 1st 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 1st qtr of 2019, 279 homes sold, averaging 93 homes sold a month, which is down from the year ending 2018 where we saw an average of 99 homes sold for the 4th qtr ending 2018.
279 homes sold during the 1st qtr ending 2019, which averages selling 93 homes a month
Median Sales Price
$400,000 was the median sales price, which is down from quarter ending 2018.
$400,000 was the median sales price ending the 1st qtr 2019 in Coral Springs. Down from $405,000 1st quarter ending 2018.
Days on the market (DOM) before homes sold
Homes were on the market for 39 days before they sold.
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 approximately 4.14 months to sell what is currently active for sale based on prior reported home sales.
The supply of homes have increased since 1st quarter ending 2018, where the supply showed 3.86 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 24% of homes are being “absorbed” by these home Buyers. A continued indicator of a Seller’s market in Coral Springs
Less homes have been sold as compared to the 1st quarter 2018, where over 25% of homes were absorbed by the Coral Springs home Buyer.
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 first quarter of 2019, the Real Estate market has continues to be a Seller’s market, yet with less vigor. 1st quarter ending 2018 the local Coral Springs Real Estate market was also experiencing a Seller’s market. The trend continues within the 1st quarter of 2019.
Neighborhoods selling in Coral Springs Florida
The neighborhoods of Coral Springs Country Club, Cypress Run, Kensington, Eagle Trace, Pine Ridge, Ramblewood, West Glen and Wyndham Lakes where showing the most homes sold ending the 1st quarter of 2019.
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.