Reporting on the Coral Springs FL Real Estate Market for May 2018
Find out about the Coral Springs FL Real Estate Market in this monthly publication on home sales in Coral Springs Florida. How were home sales in Coral Springs during May 2018? If you’re buying a home in Coral Springs or selling a home in Coral Springs, this report will shed some important light on your decision making process. And remember, if you have more questions that aren’t answered here in my report, you can call/text/ me at 954-464-1100 or email at LynnP@ImagineYourHouse.com
In today’s monthly market report we’ll uncover the following for single family homes:
- The number of homes sold in Coral Springs.
- The median home prices in Coral Spring
- The median square foot prices in Coral Springs
- How many days on the market (DOM) before homes sold in Coral Springs?
- The level of distressed homes
- The absorption rate/level of supply and inventory in Coral Springs
- Seller’s Market, Balanced Market or Buyer’s Market.
Today’s report is for May 2018. Let’s find out about homes sold in Coral Springs.
123 single family homes sold in Coral Springs during May – an increase from last month’s home sales in Coral Springs.
Home Prices in Coral Springs – at a glance
Absorption Rates And Inventory Supply Reported In Coral Springs FL
How many homes are available for sale to meet the demand of Buyers? Here I illustrate how many months it would take to sell the current inventory of homes for sale (supply) should no other homes hit the market for sale in Coral Springs based upon prior month home sales and what is being absorbed by home Buyers (absorption rate).
Absorption rates measure the rate in which the current inventory supply will be absorbed into the market based upon prior months of home sales, which will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market. More homes that had been on the market for sale were absorbed and sold, with over 34% of the homes listed for sale were absorbed by home Buyers; an increase from April’s reported market stats.
Absorption rates reversed trend this month signaling homes are getting sold with no slow down as had been questioned since the new year.
34.75% is the current absorption rate for May 2018. Homeowners selling a home like to see these kinds of rates.
Typically, absorption rates of 20% and higher reflect a Seller’s Market and 15% and under reflect a Buyer’s market, while a Balanced market hovers in between the two.
Supply of Homes
Current supply of homes shows it would take only 2.88 months to sell the current supply of homes should no further homes be listed for sale in Coral Springs. The Seller’s Market in Coral Springs Florida lives on.
When there is less than a 6 months of inventory supply we’re in a Seller’s Market, 6 months of inventory supply we’re in a Balanced/Stable market and over 6 months inventory supply of homes reflects a Buyer’s market.
The supply of homes for sale this month decreased again during May to 2.88 months, down from April’s supply at 3.32 months.
Reported Coral Springs’ home sales – prior month’s reports
The absorption rates and supply/inventory levels that I report here are for all of Coral Springs, however, keep in mind that these rates can vary by neighborhood and will vary by city also. When selling a home, it’s important to know your neighborhood rates/levels for a number of reasons, including knowing how to best position your home for sale.
Call me/text me now or email me, and I can tell you your local neighborhood absorption rate so you know how to best position your Coral Springs home for sale
Coral Springs Neighborhood Sales:
During May, the neighborhoods of Coral Springs Country Club area had 8 homes sell – Coral Springs top selling neighborhood.
Find out – “How much is my Home Worth?”
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Book an appointment now to learn more about the local Coral Springs Real Estate Market or when you’re thinking; “I need to sell my home in Coral Springs” or “I need to buy a home in Coral Springs”. Call/Text Lynn at 954-464-1100 or email Lynn at LynnP@ImagineYourHouse.com
Coral Springs FL Real Estate Market Report for May 2018 written by your neighborhood Coral Springs Realtor, Lynn Pineda with Keller Williams Realty Coral Springs. Based upon local MLS Statistical findings. Accuracy is not guaranteed. Top Coral Springs REALTOR® provided. Real Estate Agent delivering on promises.
Lynn hopes you enjoyed the most recent report on homes selling in Coral Springs. You’ll also find Lynn selling homes in Southeast Florida in the cities of Boca Raton, Coral Springs, Parkland, Margate, Sunrise, Tamarac, Coconut Creek, Boynton Beach, Delray Beach and surrounding cities within Broward and south Palm Beach counties.