Selling a home in Coral Springs - What sold in your neighborhood during October 2011?

By
Real Estate Agent with eXp Realty

Selling a home in Coral Springs - What sold in your neighborhood during October 2011?

Coral Springs single family home sales decreased this month again by almost 4% to 74 homes sold; not a large decrease as compared to last months yet it's going the wrong way. We'll hope for an increase in real estate sales next month. Of these Coral Springs homes listed for sale below, over 27% of them sold as a Short Sale, which is an Increase from last month sales of 20%. Whereas, just over 19% of the homes sold were sold as REO/Bank owned which is an decrease from last month. Almost 46% of homes sold in Coral Springs were distressed properties during October 2011 and increase from last month; those homes that have been foreclosed on and those homes which are trying to avoid being foreclosed upon. This continues to indicate 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. This month however has indicated an increase in Short Sales; perhaps Lenders are seeing the benefit of approving Short Sales opposed to foreclosing on homeowners. 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 slightly; a decrease or increase in inventory tells us whether or not there are more homes available for Buyers, more homes for Buyers to select from will keep prices down for Sellers. Supply and demand theory.

What neighborhoods in Coral Springs Florida
had the most sales?
 
Selling home in Coral Springs? See Market Reports for October 2011
 
If you're selling your home in Coral Springs or considering selling your home take a look at what neighborhoods had home sales. The neighborhoods of Pine Ridge came out on top with having sold 10 homes - WOW! Ramblewood sold 5 homes., Eagle Trace and North Springs sold 4 homes each. Coral Springs Country Club, Cypress Runn, Heron Bay and Wyndham Lakes shared in the selling of 3 homes sold this month. Coral Creek, Cypress Glen, Lakeview/Vizcaya, Maplewood, Running Brook Hills, Shadow wood, The Crossings, Westchester and Woodside Estates each sold 2 homes. There were a number of other homes sold in Coral Springs within neighborhoods having sold less than this.

For those of you selling a home in Coral Springs, you'll see below that homes that were sold during October had sales this month decreasing from last months.   However, we see Coral Springs home sales increasing strongly in the price point of $300,000 - $349,999 taking away sales from the heavily populated $200,000 - $249,999 price point of last month.. Sales in the higher price points continued to increase in October expanding into even higher price points which is good news for those who have been trying to sell their homes.

The median price is $298,000 which is up from last month. Yes! 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          3

$150,000 -$199,999     10

$200,000 -$249,999     13

$250,000 -$299,999     14

$300,000 -$349,999     22

$350,000 -$399,999      4

$400,000 -$449,999      2

$450,000 -$499,999      1

$500,000 -$549,999      2

$550,000 -$599,999      0

$600,000 -$699,999      1

$700,000 -$799,999      1

$800,000 -$899,999      1

$900,000 -$999,999      0

$1,000,000 or over         0

Total Homes Sold in Coral Springs - 74

 

Number of days that homes were on the Market:

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


No. of Listings                             27             11                 7                      9                20

 


Breakdown %                        36.49%     14.86%      9.46%              12.16%     27.03%

 


*Avg % SP/LP                       96.18%     97.93%     95.53%            97.33%     95.8%

 


 

* 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?

This month shows that homes must have been priced right as a larger percentage sold in 0-60 days.

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Whether you're Selling your home in Coral Springs or Buying your home in Coral Springs or other Southeast Florida cities from Boca Raton south to Miramar, 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 Coral Springs, Coconut Creek, Parkland, Plantation, Pembroke Pines, Margate, Miramar, Tamarac and Sunrise in Broward county to the cities of Boca Raton, Delray Beach and Boynton Beach in Palm Beach county. 

 As your dedicated Coral Springs Realtor, Short Sale Specialist, Keller Williams South Florida Real Estate Agent, Coral Springs Short Sale Realtor, South Florida Short Sale Realtor and CDPE Certified Distressed Property Expert, I'm ready to work hard for you.

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I'm looking forward to hearing from you soon. Please call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse and it would be my pleasure to help you!

Learn more about me and Coral Springs Real Estate as your Coral Springs Realtor and Coral Springs Short Sale Realtor 

 

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