Selling a home in Coral Springs – What sold in your neighborhood during May 2011?
Coral Springs Single Family Home sales in May 2011
Coral Springs single family home sales increased this month by over 33% to 92 homes sold – WOW … that’s a nice increase compared to last months home sales of 69. Of these Coral Springs homes listed for sale below, just over 19% of them sold as a Short Sale, which is a slight increase from last month. Whereas, just over 20% of the homes sold were sold as REO/Bank owned which is in line with last month. Over 41% of homes sold in Coral Springs were distressed properties during May 2011; those homes that have been foreclosed on and those homes which are trying to avoid being foreclosed upon. This is an increase from last month indicating that distressed properties on the market are still competing with non-distressed Sellers selling their homes in Coral Springs which continues to keep prices down. Distressed properties will continue to be prevalent for quite some time.
What neighborhoods in Coral Springs Florida had the most sales?
If you’re selling your home in Coral Springs take a look at what neighborhoods had home sales. The neighborhoods of Kensington were at the top this month having sold 6 homes. Other Coral Springs homes sold having sold 5 homes were Cypress Glenn, Cypress Run and Shadow wood. West Glen had 4 homes sold. Homes in Eagle Trace, had 3 homes sold along with Coral Springs Country Club, Heron Bay, Ramblewood and Westchester. Rounding out the list of were homes sold in Brookside, Butler Farms, Coral Creek, Coral Springs, Hidden Hammocks, Isles, Maplewood, Pine Ridge, Whispering Woods and Wyndham Lakes all selling 2 homes each.
For those of you selling a home in Coral Springs, you’ll see below that homes that were sold during May had significant sales again this month in the $250,000 – $299,999 price point. Sales in the higher price points continued to increase in May expanding into even higher price points which is good news for those who have been trying to sell their homes.
This month Coral Springs single family home sales also included additional sales in the price ranges below what has been the median of $250,00. Keep in mind, when pricing your home for sale 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. During April and now May again, we continue to see a break out above the heavily populated range of $250,000 – $299,999. All good to hear.
Price Range Quantity
$149,999 or under 6
$150,000 -$199,999 23
$200,000 -$249,999 16
$250,000 -$299,999 20
$300,000 -$349,999 11
$350,000 -$399,999 4
$400,000 -$449,999 6
$450,000 -$499,999 2
$500,000 -$549,999 0
$550,000 -$599,999 2
$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 in Coral Springs 92
0-30 Days 31-60 Days 61-90 Days 91-120 Days 120+ Days
No. of Listings 29 20 7 8 28
Breakdown % 31.52% 21.74% 7.61% 8.7% 30.43%
*Avg % SP/LP 97.8% 95.95% 94.36% 89.42% 93.94%
* This row indicates what percentage of the list price did the home sell for. If you look at the 91 -120+ day columns you’ll see that the longer a home is on the market the lower the percent of list price a home will sell for. This clarifies the importance of Listing a home to sell at the right price to begin with as your home will sell for more early on if you take a closer look at the 0-60 day columns.