We are at the end of the summer selling season. Summer is the time where the real estate market heats up; families like to get situated into their new homes and adjusted to the new surroundings before the start of the school year. Thanks to its A rated schools and quiet, luxurious lifestyle, Parkland has created a reputation that attracts buyers from all over the world.
In August we are seeing houses sold at a larger price on average, but taking longer to sell on the market. While several factors attribute to the market growth, the Parkland Parrot Team Leader – Michael Citron – identifies and explains two factors that he believes play the biggest role: 1) the real estate market’s seasonal peak – summer – and 2) the amount of inventory.
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.
|August 2017||July 2017||August 2016|
|Average Sales Price||$790,000||$676,000||$630,000|
|Average Days on Market||89||66||69|
The market is still doing well, with more homes sold than last month and at a larger average price. The million-dollar market is also doing better with 10 million-dollar home sales in August alone. 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.
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