Coral Spring August 2023 Market Report

Statistics for the real estate market in Coral Springs, Florida for the month of August 2023:

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 Hello, Coral Springs. Welcome to this month's real estate market report. 

To begin, let's look at the available inventory compared to the demand for homes. For that, we look at  the current supply of inventory in Coral Springs. As of now, we're seeing a very low inventory level in the  market with 1.66 month supply of homes. This means that on average it would take approximately 1.66  months to sell all the available properties if no new listings were added. 

Furthermore, over the past 12 months, we have witnessed a decrease of 9.78% in the months supply of  inventory, indicating A trend towards an even competitive market. Next, let's look at the list to sold price  percentage, which is an important metric for both buyers and sellers. Currently homes in Coral Springs  are selling at a remarkable 98 percent of their listing price. 

This highlights the strong demand and the ability of sellers to secure offers very close to their asking  price. For buyers, it underscores the need to present competitive offers in order to secure their dream  home. 

Now let's look at the pace of sales for that, we must examine the median days on market, which is the  average number of days a home spends on the market before being sold in Coral Springs. We're seeing a  median days on market of just 17 days. This indicates a very fast-paced market where properties are  selling very quickly. Sellers can take advantage of this trend to achieve a swift sale, while buyers should  be prepared to act promptly when they find a home that meets their right. 

Finally, let's discuss the median sold price in Coral Springs. Whether you're a buyer or seller, being aware  of this figure can help you gauge the market's performance and make informed decisions. As of August  2023, the median sold price stands at an impressive $574,000. This represents the middle point of all  homes sold in the area.

See attached file to check the whole month of August Market Report for Coral Springs: Coral_Springs_August_2023_Market_Report.pdf

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