How are homes selling in Coral Springs Florida?
Find out about the Coral Springs Real Estate Market in this monthly publication on home sales in Coral Springs Florida. This Real Estate report will help you whether you want to sell a home in Coral Springs or buy a home in Coral Springs. It’s all about the statistics; number of homes sold, median home prices, median square foot prices, days on the market, absorption rates and type of Real Estate market.
Today’s report is for January 2016. How is the Real Estate market in Coral Springs
looking for 2016?
Home sales during the first month of the new year slowed with only 78 homes sold, which kept the inventory level of homes up, shifting the market to the high end of a Seller’s market without a strong demand from Buyers during January. Home Buyers weren’t out in great numbers during January as when they were when 2015 ended in Coral Springs. This pattern of home buying is more typical during the first month of a new year as you’ll see below when you compare homes sale to the first month 1015.
Coral Springs Real Estate Market Summary for Jan 2016, in comparison
Home Prices in Coral Springs
|
Market Statistics |
Nov 2015 |
Dec 2015 |
Jan 2016 |
Jan 2015 |
|
|
Median Price |
$345,000 |
$339,000 |
$347,500 |
prior year → |
$339,000 |
|
Median Price per Sq Ft |
$144.70 |
$149.30 |
$153.40 |
prior year → |
$137.20 |
|
Median (DOM) Days on Market |
36 days |
31 days |
54 days |
prior year→ |
55 days |
|
Homes Sold |
79 |
141 |
78 |
prior year → |
77 |
|
Absorption Rate |
4.54% |
2.64% |
5.00% |
prior year → |
3.82% |
|
Distressed Properties |
13.33% |
15.17% |
27% |
prior year → |
27.78% |
|
Seller/ Balanced/ Buyers Market ** |
Seller’s Market |
Seller’s Market |
Seller’s Market |
prior year → |
Seller’s Market |
What does it all mean to you? What are the Coral Springs FL Real Estate trends? Where is our local Real Estate Market headed?
The supply of homes describes Absorption rates; how many homes are available for sale to meet the demand of Buyers. It illustrates how many months it would take to sell the current inventory of homes for sale should no other homes hit the market for sale in Coral Springs based upon prior month home sales. The current Absorption rate for Coral Springs in January 2016 came in at 5.00%. This means it would take 5 months to sell the current inventory level of homes for sale in Coral Springs.
Absorption rates will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market**. Typically, less than 6 months of inventory is a Seller’s Market. 6 months of inventory is a Balanced/Stable market and over 6 months supply of homes reflects a Buyer’s market. The absorption rate I report here is for all of Coral Springs, however, keep in mind that absorption rates can vary by neighborhood and will vary by city also. When selling a home, it’s important to know your neighborhood absorption rate for a number of reasons.
Call me/text me now or email me, and I can tell you your local neighborhood rate so you know how to best position your Coral Springs home for sale.
Distressed Property Sales *** (includes Short Sales and REO/Lender/Bank owned) during January decreased to just under 27%.
Neighborhoods selling in Coral Springs
Eagle Trace came out on top during January as the top selling Coral Springs neighborhood
Do you want to find out more about your neighborhood and it’s home’s sales? Call me at 954-464-100 or email me: LynnP@ImagineYourHouse.com
Where does your home fit in, do you know? At what price point should you price your home? First you’re asking, “how much is my home worth” and just how do we do it. Call for your complimentary analysis of your home’s value.
More about selling your home in Coral Springs
Do you want an accurate Real Estate market value of your home in Coral Springs? I can tell you what your home is worth in today’s South Florida Real Estate Market. My recommended price will be based upon my Real Estate experience and skill in setting accurate home selling prices so you can actually sell your home. Pricing your home high and then having to reduce the price because your home isn’t selling will result in you receiving less money for your home, than had you priced it right to begin with. I can tell you why this is true. Call me or email me to find out your home’s value in Coral Springs Florida.
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 January 2016 written by your neighborhood Coral Springs Realtor, Lynn Pineda with Keller Williams Realty Coral Springs on Feb 29, 2016. Based upon local MLS Statistical findings. Accuracy is not guaranteed. Top Coral Springs REALTOR® provided. Real Estate Promises Delivered.
Lynn hopes you enjoyed the most recent report on homes selling in Coral Springs. You’ll find Lynn selling homes in Southeast Florida in the cities of Boca Raton, Coral Springs, Parkland, Margate, Tamarac, Coconut Creek, Boynton Beach, Delray Beach within Broward and Palm Beach counties.
