Coral Springs FL Real Estate Market Report  for February 2013

 

Real Estate Market Data for Coral Springs, FL provided by Lynn Pineda, your Coral Springs REALTOR®, your Coral Springs Real Estate Agent and South Florida REALTOR® with Keller Williams Partners Realty. If you want to know what’s happening in the Coral Springs Real Estate market and if you’re thinking; “I want to sell my Coral Springs home”, read more below about Coral Springs Real Estate home sales in the Coral Springs FL Real Estate Market Report.

Coral Springs Home Prices

 

Coral Springs residents were happy in February when they experienced improvements in their local Coral Springs Real Estate Market with a higher median price and having sold more homes in the same amount of time as January. The Coral Springs Real Estate Market is experiencing a Seller’s Market.

Coral Springs Real Estate Report Market Summary

• Single Family home sales increased by over 13% this month having sold 82 homes compared to January’s home sales of 72 homes sold.

• Median price increased this month to $281,000 up from $279,000 which is just under a 1.00% increase.

• Distressed Property Sales remained relatively the same this month to just under 37% compared to January’s rate:

 

• Short Sales led, where sales were just over 21% of market sales and

• REO/Bank Owned were just over 14%

• Distressed Sales have continued for many Coral Springs homeowners

 

The inventory of homes dropped back down this month of February compared to January’s Absorption Rates of 3.07% to 2.68%; this means that with the current inventory level of homes on the market for sale in Coral Springs, it will take just under 3 months for the homes to sell; that’s fast.  Buyers want homes to buy in Coral Springs! If you want to sell your home in Coral Springs, call me and I can tell you how I’ll get your home sold fast and for top dollar.

 

If you’re a Coral Springs’ Home Buyer your home search can be a bit more challenging in a Seller’s Market, as Buyers compete heavily with other Buyers.

 

Absorption Rates can vary by Neighborhood. Call me at 954-464-1100 and we can go over the absorption rate for your neighborhood so you know what to expect.

 

Do you live in any of the Coral Springs Florida neighborhoods below?

 

The neighborhoods of Brookside, Coral Springs Country Club, Cypress Glen, Cypress Run, Forest Hills, Daniela Springs, North Springs, Ramblewood, Oakwood, Royal Land, Shadow wood, Turtle Run and Wyndham Lakes sold in the greatest of numbers during February.

 

Coral Springs Luxury neighborhoods of Eagle Trace, The Isles and Whispering Woods sold luxury homes in their communities.

 

If you don’t see your neighborhood listed here and want to find out more about selling in your neighborhood, feel free to call me at 954-464-100 or email me: LynnP@ImagineYourHouse.com

 

What price will your home sell for? Consider price points when setting a price to sell your home in Coral Springs, as I discuss each month, these price points can tell you where there are a lot of Buyers looking in a particular range and are willing to pay that price thereby, increasing the chance of your home being sold. For example, from the list below, if your homes value was near the $299,999 point and you were to price your home at $299,000 and below, you’d be reaching a much larger pool of Buyers, as you can see, compared to if you priced your home at $300,000. This is why I can’t stress it enough on the importance of pricing your home right at the beginning; thinking you can always reduce it later if your home doesn’t sell statistically, will result in a lower sales price. I can speak to you further on this point, just call me.

 

Not sure of where you should price your home; If you want to know, please contact me for a complimentary valuation of your home. As I say, again and again:Pricing your home right at the onset is so important.

 

Price Range                         Quantity

$149,999 or under                 0

$150,000 -$199,999            14

$200,000 -$249,999           11

$250,000 -$299,999           24

$300,000 -$349,999           14

$350,000 -$399,999           10

$400,000 -$449,999           7

$450,000 -$499,999           0

$500,000 -$549,999           1

$550,000 -$599,999           0

$600,000 -$699,999           0

$700,000 -$799,999            1

$800,000 -$899,999           0

$900,000 -$999,999            0

$1,000,000 or over               0

Total Homes Sold              82

 

Days on the Market before Selling

 

                      0-30 Days    31-60 Days     61-90 Days     91-120 Days     120+ Days

No. of Listings          37                        11                          9                            4                          21

Breakdown %           45.12%               13.41%                 10.98%               4.88%               25.61%

Avg % SP/LP*            97.8%                 96.97%                99.2%                   95.92%             96.74%

 

* This row indicates what percentage of the list price that the home sold

(sales price) for during Feb 2013.

More about homes in Coral Springs

To find out your home’s value and to request a Market  Analysis for your home in Coral Springs, call me, email me or click here: Find out my Home’s Value in Coral Springs Florida

 

As your local Coral Springs REALTOR® and 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.