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Coral Springs Florida May 2012 Home Sales Market report
Read below to find out more about Coral Springs' market statistics when selling your home is on your mind
Coral Springs single family home sales in May had about a 10% drop in number of homes sold with 80 homes sold compared to April's sales of 88 homes sold; May is not always a busy selling month with kids getting ready to finish up the school year.
Of these Coral Springs homes listed for sale below, Sellers who completed a short sale were over 22% which is a decrease from last months Short Sales of 28%. REO/Bank owned sales this month crept back up to almost 18% which is an increase from last month's 8%; a third of these homes had been on the market a long time.. What percentage of the Coral Springs home sales market were that of distressed properties this month? 40% of homeowners were distressed Sellers this month. We did see an increase in homes that have beenforeclosedon and a decrease in sales of those homes which aretrying to avoid being foreclosed upon; a reversal of what happened in April. This is not a trend that we want to see continue as foreclosures are typically tougher on the neighborhood.
More homes for Buyers to select from will keep prices down for Sellers and less homes available for Buyers will let home prices rise. This result is reflected in the Absorption Rate.
Coral Springs May Absorption Rate came in at 3.59
May is showing the Absorption rate continuing to stay pretty constant now since March. May's rate is slightly higher than April's rate of 3.53 and March's rate was at 3.57 which is a drop from February's rate of 4.83. If you're selling your home in Coral Springs, you're happy! A lower Absorption rate is welcoming for anyone selling their home in Coral Springs as it tells homeowners that it will take 3.59 months to get their home sold.
Are you selling your home in Coral Springs and want to know your neighborhoods Absorption rate? Call me and we can go over that if you like.
Sellers want a lower Absorption Rate like this, indicating a greater demand for homes as this shows that there are less homes available for Buyers. Typically, whenever you see a supply of homes that is less than 6 months, it's a "Sellers Market". Continued lower Absorption rates can affect future increases in home prices. We are experiencing a Sellers Market in Coral Springs.
Buyers will always beg for a higher Absorption Rate as this means they have more to select from providing Buyers with an increase in opportunities for reduced prices.
As in April, the Wyndham Lakes area had the most overall homes sold this month of 9 to include; Bay Pointe, Golden Bay, Mayfair and Pelican Isle. Following below you'll see where neighborhoods had sales of 2 or more. (this doesn't show the neighborhoods that sold 1 home such as Eagle Trace and Whispering Woods, for example)
Brookside 3Butler Farms 3 Coral Creek 3; including Grand Reserve, Waterside and Windsor Bay.
Coral Springs Country Club 3 Coral Springs University 2 Cypress Glen 2
Cypress Run 2 Forest Hills 2 Kensington 5 to include: Commons, Gardens and Sanctuary. North Springs 3 Oakwood 3 Ramblewood 6
Shadow wood 2 The Preserve/Woodside Estates 2 The Dells2The Windings 2
West Glen 2 Vizcaya 2
Are you selling your home in Coral Springs? If your home happens to be in the heavily populated price points that you see below, you'll feel good knowing that Buyers love these price points.Where do you think your home's value is? If you want to know, please contact me for a complimentary valuation of your home. Pricing your home right at the onset is so important.
Coral Springs home Sellers have heard thatthatthe median price dropped ever so slightly to $260,500 from $269,750 in April yet still up from February's median price of $220,500. The median price reflects 50% of homes sold below this price and 50% sold above this price.
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.
$149,999 or under 5
$150,000 -$199,999 5
$200,000 -$249,999 29
$250,000 -$299,999 18
$300,000 -$349,999 8
$350,000 -$399,999 7
$400,000 -$449,999 4
$450,000 -$499,999 2
$500,000 -$549,999 0
$550,000 -$599,999 1
$600,000 -$699,999 1
$700,000 -$799,999 0
$800,000 -$899,999 0
$900,000 -$999,999 0
$1,000,000 or over 0
Take a look at the chart below as it really can shed some light on the importance of getting your home priced right to sell quickly.
Days on The Market before Selling
0-30 Days 31-60 Days 61-90 Days 91-120 Days 120+ Days
No. of Listings 35 13 7 8 17
Breakdown % 43.75% 16.25% 8.75% 10% 21.25%
*Avg % SP/LP 94.81% 93.81% 96.16% 94.06% 94.37%
* This row indicates what percentage of the list price that the home sold (sales price) for during May 2012.
As your local Coral Springs REALTOR®, I'd be glad to help you determine the best price to help you sell your home here in Coral Springs. Or if you simply have questions about the selling process, please feel free to call me or email. Or if you want to know your home's value, just call me or email me. Call me at 954-464-1100 or email me at LynnP@ImagineYourHouse.com. Talk to you soon.
The more you know, the better prepared, the better the outcome.
Whether you're Selling your home in Coral Springs or Buying your home in Coral Springs or other South Florida cities, I promise to be on your side working hard for you as your Coral Springs Realtor and South Florida Realor. Helping homeowners with Coral Springs Real Estate and the Real Estate in surrounding cities such as Coconut Creek, Parkland, Plantation, Pembroke Pines, Margate, Tamarac and Sunrise in Broward county to the cities of Boca Raton, Delray Beach and Boynton Beach in Palm Beach county.
Coral Springs Realtor,Coral Springs Short Sale Expert, Coral Springs Short Sale Realtor, Coral Springs Short Sale Specialist, Coral Springs Florida Real Estate Agent, CDPE, Certified Distressed Property Expert, Foreclosure Options, Selling home in Coral Springs, Selling house in Coral Springs, Coral Springs Homes for sale, South Florida Real Estate Agent helping Home Sellers and Buyers in Broward, Palm Beach and Dade counties. Keller Williams South Florida Real Estate Agent
Tips for Selling a home in Coral Springs and South Florida. Buying a home? Make sure you know what needs to be done here in South Florida when Buying a home.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.