Coral Springs FL Real Estate Market Report for March 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.

Coral Springs Home Prices  

Coral Springs home prices remained stable during March where home Sellers experienced brisk home sales in their local Coral Springs Real Estate Market reflecting a median home sales price that is up from this ending quarter a year ago March in 2012, by almost 6%. The Coral Springs Real Estate Market is experiencing a Seller’s Market. See below to see selling price of homes.

Coral Springs Real Estate Report Market Summary

 

• Single Family home sales increased by over 2.44% this month having sold 84 homes compared to February’s home sales of 82 homes sold.

• Median price decreased slightly this month to $274,500 down from $281,000 which is just over a 2.00% decrease.

• Distressed Property Sales moved up ever so slightly this month to just over 38% compared to February’s rate:

  • Short Sales led, where sales were just over 25% of market sales and
  • REO/Bank Owned were just over 11%
  • Distressed Sales have continued for many Coral Springs homeowners with many now wanting to sell home as a Short Sale.

The inventory of homes continued to decline this month dropping even further this month of March compared to February’s Absorption Rates of 2.68% to 2.38%; this means that with the current inventory level of homes on the market for sale in Coral Springs, it will take just over 2 months for the homes to sell; this is a fast moving Coral Springs Real Estate Market.  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. I’d be happy to go over your neighborhood’s specific absorption rate so you know what to expect.

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

The neighborhoods of Brookside, Cypress Run, Eagle Trace, Kensington, Heron Bay, Maplewood, Pine Ridge, Ramblewood, Royal Land, Turtle Run and Westchester sold in the greatest of numbers during February.

Coral Springs Luxury neighborhoods of Eagle Trace, Heron Bay, Maplewoood 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 a home 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. During March you’ll find the most heavily populated price points are those listed below. 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, as 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

$200,000 -$249,999     18

$250,000 -$299,999     25

$300,000 -$399,999     21

$400,000 -$499,999     8

 

Days on the Market

Days on the Market before selling this month reflects the increase in Coral Springs’ home selling prices and the speed in which the homes are sold. During March, 52% of all homes, sold for 107% of the Original List Price within 30 days. WOW.

 

More about home selling 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.