Coral Springs FL Real Estate Market Report May 2013

Coral Springs FL Real Estate Market Report for May 2013 provided by Lynn Pineda, your Coral Springs Real Estate Agent 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 May 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

• Coral Springs FL Real Estate Market Report May 2013                

• Single Family home sales increased again by almost 6% this month, having sold 110 homes compared to April’s home sales of 104 homes sold.

• The median sale price during May was $310,895 which is huge, being up over 11% from April’s reported Coral Springs reported home sales.

• Distressed Property Sales nudged up slightly this month to just over 27% compared to Aprils’s rate of 26% with the breakdown shown below being pretty much the same:

  • Just over 18% of market sales were Short Sales
  • Just over 9% were REO/Bank Owned homes
  • Recent months reflect lower numbers in the way of distressed home sales in Coral Springs below the higher prior month’s averages that fell in the 30%-40% range. Getting these numbers down helps everybody whether you’re a distressed homeowner or not, which can signal an improvement in Real Estate market conditions if the trend does continue for the months ahead.

*Coral Springs’ inventory of homes have continued the reducing pattern in this Seller’s Market where the inventory is at all time lows.  May’s Absorption Rates registered at 2.09% where April’s rate was at 2.08%. 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 2 months, while Buyers line up to buy homes, buy Coral Springs homes.  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. It is a great time 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!

Challenges are certainly what the current Coral Springs home Buyer is going through in this Seller’s Market, as Buyers must make their offers clean as a whistle and very attractive to the home Seller and there are ways, in which, this can be accomplished when you have a professional Real Estate Agent on your side.

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, Coral Springs Country Club, Cypress Glen, Cypress Run, Eagle Trace, Forest Hills, Heron Bay, Hidden Hammocks, Kensington, Maplewood,  North Springs, Ramblewood, West Glen, and Wyndham Lakes all sold in the greatest of numbers during May.

Coral Springs Luxury neighborhoods of Eagle Trace, Grand Isle of Wyndham Lakes, Running Brook Hills, The Isles, Venetian 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

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 May, 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. 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

$180,000-$199,999     2

$200,000 -$249,999     17

$250,000 -$299,999     24

$300,000 -$399,999     45

$400,000 -$499,999     12

$500,000-$749,999     5

 

Days on the Market

Days on the Market before selling this month reflects the speed in which the homes are sold. During May, 53% of all homes, sold for 96% of the Original List Price within 0-30 days and another 15% sold for 95% of original list price within 31-60 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.