Coral Springs FL Real Estate Market Report Nov 2013

Coral Springs Real Estate Market Report for November 2013 provided by Lynn Pineda, your Coral Springs Realtor and South Florida REALTOR® with Keller Williams Partners Realty. What’s going on in the Coral Springs Real Estate Market? If it’s time for you to sell a home, read more below about recent Coral Springs Real Estate home sales and how it will affect selling your home.

Coral Springs Single Family Home Prices

Home prices in Coral Springs Florida decreased during November where homes have continued to sell at a quick pace 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 decreased again this month of November by 12%, having sold 85 homes compared to October’s homes sold.
  

• The median sale price during November was $318,000 which is an decrease from October’s median price of $320,000; October’s reported Coral Springs home sales.

• The number of days that homes remained on the market before selling were a median of 47 days compared to October at 24 days

• Distressed Property Sales fell back a bit this month to over 22% compared to October’s rate of 28% with the breakdown shown below:

  • Over 9% of market sales were Short Sales decreased from October   

  • Almost 13% were REO/Bank Owned homes increased from October    

  • We will continue to watch this area of the Coral Springs Real Estate market, as concerns hang overhead on whether the effects of our economy continuing to limp along puts a strain on homeowner’s ability to recover.

During November, the Absorption Rates  now shows a rate of 3.24% which is a slight increase from 2.69% in October.  When homes are put up for sale in Coral Springs it is taking about 3.24 months for them to sell. An Absorption Rate is always good for you to know, as a Home Seller. Your Coral Springs Realtor that you hire should talk Absorption Rates, if they know their local market. It’s critical that your Realtor 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 in just over 3 months. Home Buyers continue to flock to Coral Springs Florida, as it is a highly sought after community to live in here in South Florida.  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! We’re still experiencing a Seller’s Market.

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.  Feel free to call me at 954-464-100 or email me: LynnP@ImagineYourHouse.com

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

The neighborhoods of Coral Springs Country Club, Kensington, and Ramblewood had home sales in larger numbers.

Coral Springs Luxury neighborhoods of Eagle Trace, Grand Isle of Wyndham Lakes, Running Brook Hills 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. 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. For example, 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 bring on multiple offers driving up the ultimate sale price of your home. Perhaps this can help you to understand that initial list price that makes all the difference in what you will sell your home for.  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: Don’t price your home to negotiate

Price Range        Quantity

$180,000-$199,999      1

$200,000 -$249,999     6

$250,000 -$299,999    23

$300,000 -$399,999    38

$400,000 -$499,999    12

$500,000-$749,999       4

$750,000-$999,999       0

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 December 31, 2013. Based upon local MLS Statistical findings and accuracy is not guaranteed.