Coral Springs FL Real Estate Market Report Sept 2013

Coral Springs FL Real Estate Market Report for September 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 Home Prices

Home prices in Coral Springs declined during September 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 decreased by almost 17% this month of September, having sold 100 homes compared to August’s home sales of 120 homes sold.

• The median sale price during September was $322,450 which is a slight decrease from August’s median price from August’s reported Coral Springs home sales .

• The median price per square foot was $139.00 during September which is up from $132.40 in August while homes having been on the market for a median of 24 days compared to 21 days in August.

• Distressed Property Sales decreased quite a bit this month to 18% compared to August’s rate of 25% with the breakdown shown below:

  • Just over 14% of market sales were Short Sales    

  • Just under 4% 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. Let’s hope this pattern showing up again this month of August does not climb higher in the months ahead.

During September, the Absorption Rates  now show a rate of 2.45% which is a slight increase from August.  When homes are put up for sale in Coral Springs it is taking about 2.45 months for them to sell. August’s rate was just over 2%, July’s rate was 1.76% and June’s rate was at 1.88%. 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 within just over 2 months. Home Buyers continue to flock to Coral Springs as it is a highly sought after community to live 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

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: Pricing your Coral Springs’ home to sell

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 October 25, 2013. Based upon local MLS Statistical findings and accuracy is not guaranteed.