Coral Springs Real Estate Market Report for December 2013 provided by Lynn Pineda, your local Coral Springs Realtor in South Florida with Keller Williams Partners Realty. So how did the Coral Springs Real Estate Market end in December 2013? 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 and activity picked back up in Coral Springs Florida during December where homes have continued to sell at a quick pace when priced right!* (See Absorption rates below) Review below to see home sale prices.
Coral Springs Real Estate Report Market Summary
Single Family home sales saw a rise during December compared to November’s decreased rate. During December home sales were up over 19% to having sold 105 homes.
The median sale price during December also rose to $333,500 which recorded an increase from the last two months, increasing over November’s median price of $318,000; November’s reported Coral Springs home sales.
The number of days that homes remained on the market before selling were a median of 26 days compared to November at 47 days; signaling a brisk pace.
Distressed Property Sales remained relatively the same this month to just under 22% with the breakdown shown below:
Over 13% of market sales were Short Sales; increasing from November
Almost 9% were REO/Bank Owned homes; decreasing from November
There are many homes still in the stages of Foreclosure that have not come to market to be foreclosed upon nor any signal from a homeowner that they’ll sell their home as a Short Sale in order to avoid a foreclosure. Time will tell with the unknown of these distressed homeowners and what the effect will be on the current Coral Springs Real Estate Market.
During December, the Absorption Rates which show the available inventory of homes, now shows a rate of 3% which is a decrease from 3.24% in November. This means that during December Coral Springs homes sold at a brisker pace than in November; selling within 3 months time. An Absorption Rate is always good for you to know, as a Home Seller. 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 little as 3 months. With Coral Springs being an ever popular Southeast Florida area where people want to live, these home sales numbers reflect the demand for Coral Springs homes. 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. Don’t wait for rising interest rates and Buyers being faced with a reduction in affordability along with strict lending requirements present in 2014 to sell you home, as those factors will directly affect the price you can sell your home for and how quickly you can sell your home.
Please know 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 when you’re ready to get your home sold. 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 subdivisions of Cypress Glen, Cypress Run,Coral Springs Country Club, Eagle Trace, Forest Hills, Hidden Hammocks/OakBrook, Kensington, Maplewood, North Springs, Pine Ridge, Ramblewood, Turtle Run and Wyndham Lakes had home sales in the largest of numbers during December 2013 with Wyndham Lakes topping out with selling 11 homes!
Coral Springs Luxury subdivisions of Baypointe at Wyndham Lakes,Greens at Eagle Trace, Fairways at Eagle Trace, Heron Bay and Whispering Woods sold luxury homes in their communities.
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: 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
$200,000 -$249,999 12
$250,000 -$299,999 18
$300,000 -$399,999 46
$400,000 -$499,999 21
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 January 27, 2014. Based upon local MLS Statistical findings and accuracy is not guaranteed.
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