Coral Springs Real Estate Market Report Oct 2013

Coral Springs Real Estate Market Report for October 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 Florida declined during October 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 again this month of October by 3%, having sold 97 homes compared to September’s home sales of 100 homes sold.

• The median sale price during October was $320,000 which is another slight decrease of almost 1% from September’s median price September’s reported Coral Springs home sales.

• The median price per square foot was $134.80 during October which is a decrease from $139.00 in September while the number of days that homes remained on the market before selling were a median of 24 days.

• Distressed Property Sales to a jump back up this month to almost 28% compared to September’s rate of 18% with the breakdown shown below:

  • Over 16% of market sales were Short Sales    

  • Over 11% were REO/Bank Owned homes     

  • A jump back up in distressed property sales is never a good thing to see. 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 October, the Absorption Rates  now shows a rate of 2.69% which is a slight increase from 2.45%.  When homes are put up for sale in Coral Springs it is taking about 2.69 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 in just under 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 Brookside, Cypress Run, Forest Hills, Kensington, Pine Ridge, Ramblewood, The Preserve, Turtle Run, and Wydham Lakes had home sales in larger numbers.

Coral Springs Luxury neighborhoods of Eagle Trace, The 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. 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       2

$200,000 -$249,999    12

$250,000 -$299,999    23

$300,000 -$399,999   44

$400,000 -$499,999    10

$500,000-$749,999       2

$750,000-$999,999       1

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 November 15, 2013. Based upon local MLS Statistical findings and accuracy is not guaranteed.