Selling a home in Coral Springs – What sold in your neighborhood during Sept 2011?
Coral Springs single family home sales decreased this month by almost 15% to 77 homes sold; not what we want to see when you’re selling your home. Of these Coral Springs homes listed for sale below, over 20% of them sold as a Short Sale, which is a decline from last month. Whereas, just over 22% of the homes sold were sold as REO/Bank owned which is an increase from last month. Just over 42% of homes sold in Coral Springs were distressed properties during September 2011; those homes that have been foreclosed on and those homes which are trying to avoid being foreclosed upon. This indicates that distressed property home sales are competing ever more with non-distressed Sellers selling their homes in Coral Springs which continues to reflect on home selling prices. As previously reported, distressed properties will continue to be a major force of selling competition here in the South Florida Real Estate market for quite some time. To compete with the distressed market, pricing is key as it is one of the things that Sellers can control.
The inventory of homes rose this month. There is approximately 5.7 months of inventory which is up about 35.4% from August which is down just 2.8% from a year ago September; more inventory means there are more homes available for Buyers, more homes for Buyers to select from will keep prices down for Sellers. Supply and demand theory.
For those of you selling a home in Coral Springs, you’ll see below that homes that were sold during September had significant sales this month decreasing from last months strong price point of $300,000 – $349,999 back to the heavily populated $200,000 – $249,999 price point this month.. Sales in the higher price points continued to increase in September expanding into even higher price points which is good news for those who have been trying to sell their homes.
The median price is $245,000 this month down again from last month. 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. We continue to see a break out above the usually heavily populated range of $200,000 – $249,999.
Price Range Quantity
$149,999 or under 10
$150,000 -$199,999 10
$200,000 -$249,999 22
$250,000 -$299,999 10
$300,000 -$349,999 13
$350,000 -$399,999 6
$400,000 -$449,999 4
$450,000 -$499,999 1
$500,000 -$549,999 1
$550,000 -$599,999 0
$600,000 -$699,999 0
$700,000 -$799,999 0
$800,000 -$899,999 0
$900,000 -$999,999 0
$1,000,000 or over 0
Total Homes Sold in Coral Springs – 77
Number of days that homes were on the Market:
No. of Listings 29 15 10 7 16
* This row indicates what percentage of the list price that the home sold for during August. Listing a home to sell at the right price to begin with in days 0 -60, as you see, will achieve a higher percentage of your list price whereas if you were willing to wait out 120+ days ending this month, you’ll achieve a bit closer to your list price. Do you have the luxury of time?
