Monday, July 15, 2019 / by Andy Mandel
I’ve got a quick update to share with you today about the Coral Springs real estate market and what we saw in the second quarter of 2019. We’re starting to see a familiar trend here that we’ve noticed over the last six to eight months when it comes to single-family homes.
The number of new homes hitting the market is up about 9% from where it was last year. At the same time, there are about the same number of closed sales as last year. That’s a good thing because they’re not declining, but it’s certainly something to pay attention to going forward. The median price in Coral Springs is also up to $415,000 from $405,000 last year—about a 2.5% increase.
With that being said, buyers have more to choose from right now so they’re being a little pickier about the homes they make offers on. This means your home has to be priced accurately in order to sell.
Our average days on market is up about 7% to about 50 days. This is to be expected with the increased inventory. With interest rates down, it’s a great time for buyers to be out there to lock in a great price.
It’s still a great time for sellers to be in the market too, but the days of overpricing and waiting for the market to catch up are over. As long as you price in line with where the market is, you should be just fine.
If you have any questions for me about this market, or the condo or townhome market, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.