Market Update October 2017

Market Update September 2017
November 6, 2017
Market Update November 2017
December 13, 2017

Market Update October 2017

Market Update: October 2017

 

 

October was a huge improvement from September, as the market has recovered from Hurricane Irma. We saw an increase in Median Sales Price and Homes Sold from September to October. There was also an improvement from last year October in both categories as well.

Thanks to Parkland’s A-rated schools, quiet, luxurious lifestyle, Parkland has created a reputation that attracts buyers from all over the world, and this market will continue to thrive, especially with new construction.

The chart below depicts the month-to-month and year-to-date changes in three categories: homes sold, average sales price, and average days on market. Market values are up in August, and the million-dollar market is doing better than in previous months. The chart below goes into more detail. In the first category, homes sold, shows a slight increase from July to August but a decrease from August 2016 to August 2017.  Why the difference? Michael Citron, #1 top producing RE/MAX real estate agent in the entire State of Florida for 2016, believes this drop is due to the decrease in the number of spec home inventory in the city last summer.  In 2016, sellers and their real estate agents had to compete with builders who were unloading their spec homes.  The second category, average sales price, increased both month-to-month and year-to-date, indicating sellers are receiving top dollar for their homes.  The last category, average days on market, shows an increase both month-to-month and year-to-date, indicating houses are moving slower due to more inventory.

 

 

October 2017 September 2017 October 2016
Homes Sold 41 29 34
Median Sales Price $630,000 $565,000 $555,000
Average Days on Market 79  61 61

 

The market is still doing well, with more homes sold than last month and at a larger median sales price. The million-dollar market is also doing better with 4 million-dollar home sales in October alone, as opposed to none in September.

If you’re thinking of selling your home, the Parkland Parrot Real Estate Team can help you determine two important factors that should be part of your plan of action: 1) finding out what your home is truly worth and 2) knowing what type of house you are looking to move to.  To find out what your home is worth, visit My Parkland Home Value.

Looking to sell your home for a RECORD Sale & find the next home of your dreams? Then call Michael Citron & the #1 Real Estate Team at: 954-609-0591.

 

If you read my Parkland Parrot Real Estate Website, you know that the Parkland and Coral Springs real estate market is changing on a regular basis.  Values here can vary dramatically from neighborhood to neighborhood.  Whether you are buying or selling, relocating, or moving to Parkland, Coral Springs, Coconut Creek, or the surrounding areas in South Florida, it is more important than ever to work with a local Realtor who has experience and knowledge of the market and is a full-time real estate consultant.  I am honored to be the #1 top producing RE/MAX real estate agent in the entire State of Florida for 2016 along with being one of the top Realtors in Parkland and South Florida. I am also one of the top 50 RE/MAX real estate agents in the United States for 2016. I can be reached anytime on my cell at 954-609-0591 if you and your family are looking to buy, sell, or rent a home or you can fill out a contact form here and I will gladly give you a call back to discuss your real estate needs.

My best marketing is YOU!  Please visit our Client Testimonial Page to read more about the experiences of working with our team.  Call me for your customized marketing plan and comparative market analysis!  Let my full service and aggressive marketing campaign work for you and your family!  Please give me a call at: 954-609-0591.