Coral Springs FL Real Estate Market Report March 2014

 

So just how did the Coral Springs Real Estate Market end in March 2014? Thinking about selling your home? 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 March, 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

 

• Single Family home sales increased during March having sold 82 homes; 67 homes had been sold in Coral Springs during February.

• The median sale price however, declined during March to $307,000; decreasing about 5.50% from February’s median price of $325,000; February’s reported Coral Springs home sales.

• The number of days that homes remained on the market before selling increased to a median of 44 days compared to February at 33 days; which is still considered a brisk pace for home Sellers.

• Distressed Property Sales showed a significant change during March dropping down to 15.96% from February’s rate of 24%:

  • Almost 10% of market sales were Short Sales; declined from February at almost 17%.   

  • Over 6% were REO/Bank Owned homes; decreasing from February at over 7%.

  • The shadow inventory of homes in a Pre Foreclosure status continue to be just that, “shadows not yet coming to market”. Lenders are likely waiting on continued price appreciation before they foreclose to lessen their losses, however this months decline in median home sale prices may signal to Lenders that now is the time to move on these properties that have been languishing on the market.

 

What does it all mean to you? What are Coral Springs FL Real Estate trends? Where is our Real Estate Market headed?

 

During March, the Absorption Rates  which show the available inventory of homes, now shows a rate of 4.69% which is a decrease from February’s rate at 5.49%. (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.  Don’t wait to sell your home when it moves in to a Buyer’s market and their demands will increase, such as wanting more from you as a Seller and their willingness to pay top dollar for your home can wane.

 

We’ve had prior uncertainty in the Real Estate Market while observing median home sale prices fluctuating up and down now from $307,00 to $325,000 since the last quarter of  2013. 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.

 

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, Cypress Glen, Kensington, Maplewood, Pine Ridge, Ramblewood, Shadow wood and Wyndham Lakes had home sales in the largest of numbers during March 2014 with Ramblewood neighborhood topping out again this month with having sold 6 homes!

 

Coral Springs Luxury subdivisions of Eagle Trace, Heron Bay 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: L

ynnP@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

 

$180,000-$199,999            1

$200,000 -$249,999          11

$250,000 -$299,999          25

$300,000 -$399,999          25

$400,000 -$499,999          15

$500,000-$749,999            3

$750,000-$999,999            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.

 

Coral Springs Real Estate Market Report written by Coral Springs Realtor Lynn Pineda with eXp Realty Based upon local MLS Statistical findings and accuracy is not guaranteed. Coral Springs REALTOR® provided.