Coral Springs Homes for Sale - what’s been selling?
We’ve seen changes in the Coral Springs Real Estate market over the past year whereas, a year ago July 2013 we were experiencing a strong Seller’s month when we only had a little over one month’s supply of homes for sale. Homeowners in Coral Springs couldn’t put their home up for sale fast enough when there seemed to be Buyer’s waiting in their front bushes ready to pounce and present an offer to buy the Seller’s home. Fast forward to now, we’re now seeing more homeowners ready to sell their home as they’ve been watching and examining their local Real Estate market. Homeowners have noticed prices increasing and more have now decided to jump in to sell their home. Due to many homeowners now having the same idea after waiting the market out, we’re seeing the inventory of homes in Coral Springs increase, which has been evident over the last several months.
What type of Real Estate Market is Coral Springs experiencing overall?
Coral Springs’ Real Estate Market overall is still experiencing a Seller’s Market, yet we’re slowly moving to a more Balanced Market which nestles us in between either a Seller’s market and a Buyer’s market. Coral Springs currently has just over a 4 months supply of homes for sale. What exactly is a Seller’s Market? A Seller’s market favors Sellers with the inventory level typically under a 5-6 months supply of homes. As you can imagine, solely by the name, the ball is in the Seller’s court, whereby they’re able to make greater demands and anticipate greater Buyer participation in buying their home.
Below, I’ve included neighborhoods within Coral Springs and their home sales specifics to give you an idea as to how the Real Estate market is local right down to each and every neighborhood.
Coral Springs Homes for Sale in Cypress Run
Coral Springs' home sales ending July 2014 shows the Cypress Run’s neighborhood median homes sale price at $299,463 with the absorption rate being at 4.75%. An absorption rate tells you how long it will take to sell the current inventory of homes for sale. At the end of August 2014, there were 17 homes for sale in Cypress Run of Coral Springs area. An absorption rate of 4.75% indicates that homeowners are currently experiencing being at the top of Seller’s Market taking 4.75 months to sell the inventory of homes moving us closer towards a Balanced market.
Coral Springs Homes for Sale in Coral Springs Country Club
Coral Springs’ home sales ending July 2014 shows the Coral Springs Country Club neighborhood’s median homes sale price to be at $299,900 with the absorption rate being at 5.67%. Remember from above that an absorption rate tells you how long it will take to sell the current inventory of homes for sale. At the end of Aug 2014 there were 17 homes for sale in Coral Springs Country Club area also. An absorption rate of 5.67% indicates that homeowners are experiencing pretty much a Balanced Market reflecting a change from June’s Seller's Market. We're now in between a Seller's Market and Buyer's Market in Coral Springs Country Club. Find out more about a Balanced market here:a Sellers,Balanced and Buyers market defined.
Of course there are many, many more neighborhoods in Coral Springs, many great neighborhoods attracting residents from all over! I’ve highlighted just two of the such great neighborhoods in Coral Springs to let you know just exactly how each neighborhood has their differences. It’s important to know these difference particularly when you’ve decided to sell your home in Coral Springs. If you’re considering putting your home up for sale, be sure to pick up the phone and call me, as your local Coral Springs Realtor at 954-464-1100, so I can tell you more of what’s going on in your neighborhood. Knowing your market sets you up ideally for being able to sell your home, once you’ve priced your home right, along with making sure your home’s presentation is top notch.
Be sure to call me or email me at LynnP@ImagineYourHouse.com for any other home selling or home buying question that you may have and also be sure to visit my site to discover a wealth of Real Estate information to guide you during the home selling or home buying process. Talk to you soon!