Reporting on the Coral Springs FL Real Estate Market for the 4th quarter ending Dec 2018
Find out about the Coral Springs FL Real Estate Market in this Real Estate market report publication for home sales in Coral Springs Florida. How did home sales in Coral Springs close out the year ending 4th quarter December 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 .
It’s all about selling homes in Coral Springs!
In today’s 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 4th quarter ending in December 2018. Let’s find out about homes sold in Coral Springs.
99 single family homes sold in Coral Springs 4th qtr ending Dec 2018
Single Family 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.
The Coral Springs Real Estate market had less homes absorbed by home Buyers as the absorption rate fell, yet again, to just under 26%; down from Sept 2018 at 37% and then further out with 42% previously reported. This is indicating that the Real Estate market in Coral Springs has slowed with not as many homes were “absorbed” by Home Buyers.
Just under 26% was the current absorption rate for 4th qtr ending Dec 2018. A continued slowing of home sales in Coral Springs since the 2nd and 3rd quarters of 2018.
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. The Absorption rate in Coral Springs at year end, indicates a move towards a balanced market.
Supply of Homes
The supply of homes ended up at years end 2018 at a 3.86 months supply; an increase in the supply of homes for sale in Coral Springs, up from reported 3rd quarter 2018. Should no further homes be listed for sale in Coral Springs it would take just under 4 months to get them all sold.
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 increased to 3.86 months up from the September 3rd qtr ending supply of 2.67 months.
Distressed sales that include both Bank owned and Short Sale Sellers accounted for 5.30% of the reported homes sales year ending Dec 2018 in Coral Springs.
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 get your home sold fast and for the most money. Know what you need to scrutinize to get your home sold.
Coral Springs Neighborhood Sales:
Closing out 2018, there were the highest reported number of home sales in the neighborhoods of Coral Springs Country Club, Kensington and Ramblewood
Luxury homes sales were mostly accounted for in the Coral Springs luxury neighborhoods Heron Bay and Whispering Woods when closing out 2018.
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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 Sept 2018 written by your neighborhood Coral Springs Realtor, Lynn Pineda with eXp 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.