Home Prices in Coral Springs FL for October 2012

Real Estate Market Data for Coral Springs, FL provided by Lynn Pineda, Coral Springs REALTOR® and South Florida REALTOR® with Keller Williams Partners Realty

 

Coral Springs Home Prices

Since the beginning of January 2012, we’ve experienced favorable price increases here in Coral Springs Florida. In fact, since January, prices have averaged an increase of over 13%. If you’re considering that now is the time to sell your home in Coral Springs, you want to ensure that you have an experienced, skilled Real Estate Agent on your side. There’s many factors to consider when selling a home and it’s more than simply plopping a sign in your front yard.

 

Coral Springs Real Estate Report Market Summary

• Single Family home sales increased by almost 15% this month having sold 93 homes compared to last month’s Coral Springs home sales in Sept 2012.
• Median price increased this month to $261,500 up almost 10% from September’s 2012 rate.
• Distressed Property Sales increased this month to over 43% compared to September’s 2012 :
  • Short Sales were just over 29% of market sales and
  • REO/Bank Owned were just under 14%
  • Distressed sales prove that our neighbors in Coral Springs continue to struggle as over a quarter of the market are homeowners wanting to sell home as a Short Sale in Coral Springs to avoid being a participant in a Foreclosure.

The inventory of homes had decreased during October so we’re seeing the Absorption Rates drop back down from September’s rate of 3% to 2.52%; if you want to sell your home in Coral Springs, the availability of homes on the market reflect a tighter supply increasing Buyer demand for homes, which can drive up home prices in Coral Springs; signaling selling opportunities for Coral Springs home Sellers.

Absorption Rates can vary by Neighborhood. Call me at 954-464-1100 and we can go over the absorption rate for your neighborhood so you know what to expect.

Do you live in any of the Coral Springs Flo neighborhoods below?

 

The neighborhoods of Pine Ridge & Wyndham Lakes led the leader board with having had 6 homes each sold in their neighborhoods during October

Below are how the remaining neighborhoods fared:

Brookside 2 Coral Creek 2 Coral Springs Country Club 2

Coral Springs Subdivision 4 Coral Springs University 2

Countrywood Estates 2 Cypress Glen 2 Cypress Run 5

Eagle Trace 3 to include: Eagle Point and Fairways

Glenwood 2 Heron Bay 2 Kensington 2 Lennox Isles 2

North Springs 4 Oakwood 2 Pine Ridge 6 Ramblewood 5

The Isles Addition 2 Shadow wood 2 Turtle Run 4

West Glen 3 Westchester 2 Woodside Estates/Preserve 2

Wydham Lakes 6 to include Coventry Place, Coventry Cove,
Golden Bay, Pelican Isle and Pelican Trail West

 

Where should you price your home? Consider price points when setting a price to sell your home in Coral Springs, as I discuss each month, 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.

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’ve said before:Pricing your home right at the onset is so important.

Price Range            Quantity

$149,999 or under        5

$150,000 -$199,999     12

$200,000 -$249,999     18

$250,000 -$299,999     27

$300,000 -$349,999     13

$350,000 -$399,999     7

$400,000 -$449,999     6

$450,000 -$499,999     2

$500,000 -$549,999     1

$550,000 -$599,999     0

$600,000 -$699,999     0

$700,000 -$799,999     2

$800,000 -$899,999     0

$900,000 -$999,999     0

$1,000,000 or over       0

Total Homes Sold          93

Days on the Market before Selling

                         0-30 Days     31-60 Days     61-90 Days    91-120 Days   120+ Days

No. of Listings        40                      16                  13                  8                     16

Breakdown %       43.01%            17.2%          13.98%          8.6%                 17.2%

*Avg % SP/LP      98.19%           95.84%        94.9%           94.61%              94.75%

* This row indicates what percentage of the list price that the home sold          (sales price) for during Oct 2012.

 

More about homes in Coral Springs

To find out your home’s value and to request a CMA 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®, 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.