Coral Springs FL Real Estate Market Report July 2013
Coral Springs FL Real Estate Market Report for July 2013 provided by Lynn Pineda, your Coral Springs Realtor and South Florida REALTOR® with Keller Williams Partners Realty. Many Coral Springs residents routinely ask me about the Coral Springs Real Estate Market wanting to know what’s happening in the Coral Springs Real Estate market and if you too are thinking; “I want to sell my Coral Springs home”, read more below about recent Coral Springs Real Estate home sales.
Coral Springs Home Prices
Coral Springs Home Prices saw an increase during the month of July again where homes have continued to sell rapidly when priced right!* (See Absorption rates below) Review below to see selling price of homes.
Coral Springs Real Estate Report Market Summary
Single Family home sales increased again by over 19% this month, having sold 137 homes compared to June’s home sales of 115 homes sold.
The median sale price during July was $325,000 which is up just under 1% from June’s reported Coral Springs home sales which again this month, isn’t as large an increase as the month of June had shown.
- The median price per square foot was $135.20 during July up from $131.10 in June while homes having been on the market for a median of 17 days compared to 21 days in June.
Distressed Property Sales increased slightly this month to just over 24% compared to June’s rate of just under 24% with the breakdown shown below:
- Just over 15% of market sales were Short Sales
- Just under 9.50% were REO/Bank Owned homes
- As we continue to see the distressed Seller’s effect on the market reducing, it will continue to bring hope to many concerned with Real Estate property values in Coral Springs. It’s also good to hear that the stressful burden endured by the distressed Seller is lessening in their daily lives.
We cannot keep any home inventory here in Coral Springs when in fact, from July’s reported home sales, the Absorption Rates is now documenting a rate of 1.76% – that’s big news! When homes are put up for sale in Coral Springs it is taking 1.76 months for them to sell! June’s rate was 1.88% and May’s rate was at 2.09%. Why should anyone care about an Absorption Rate or have you ever even heard of an Absorption Rate? Your Coral Springs Realtor that you hire should talk Absorption Rates, if they know their local market. This rate will tell you that if you list your home for sale with the current inventory level, the inventory of homes will all be sold within just over 1.76 months. Compare this to Broward county’s rate of over 3.5 % and Palm Beach county’s rate of over 5%. Home Buyers are letting you know that they want to buy a home you’re selling in Coral Springs. When Buyer’s want to buy a Coral Springs home, you’ll find them trying to make their offers very attractive, so home Sellers, as yourself, will select their offer. The time couldn’t be any better to sell a home in Coral Springs so, 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!
As a Home Buyer in Coral Springs, presenting an offer that will stick out from all the other Buyer’s offer is what your goal should be so make sure you know how to present an offer. Not sure, call me, and we can discuss this.
Please understand that Absorption Rates vary by neighborhoods. 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 Butler Farms, Coral Creek, Coral Springs Country Club, Cypress Run, Eagle Trace, Forest Hills, Heron Bay, Kensington, Maplewood, North Springs, Pine Ridge, Ramblewood, Turtle Run, West Glen, and Wyndham Lakes were selling homes in their neighborhoods in the greatest of numbers.
Coral Springs Luxury neighborhoods of Eagle Trace, The Isles Addition, The Isles East, Heron Bay/Falls 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
How much is my home worth? As you can imagine, this is probably one of the first questions that I routinely receive from a homeowner who is thinking about selling a home in Coral Springs or anywhere for that matter. Price points will be considered when setting a price to sell a 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 June, you’ll find the most heavily populated price points are those listed below. For example, from the list below, if your home’s value was near the $400,000 price point and you were to price your home at $399,999 or just below, you’d have a much greater chance of reaching more Buyers compared to pricing your home immediately at $400,000 or just above. Pricing at the right price point can elicit multiple offers driving up the ultimate sale price of your home. 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 and take longer to sell. 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 Coral Springs’ home to sell
Price Range Quantity
$200,000 -$249,999 21
$250,000 -$299,999 26
$300,000 -$399,999 60
$400,000 -$499,999 18
Days on the Market
Days on the Market before selling this month reflects the speed in which the homes are sold. During July, 65% of all homes, sold for 98% of the Original List Price within 0-30 days and another 10% sold for 95% of original list price within 31-60 days. 1% sold for 106% of Original List Price within 211-240 days.
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.
Written by Coral Springs Realtor, Lynn Pineda Sept 1, 2013. Based upon local MLS Statistical findings and accuracy is not guaranteed.
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