Is Coral Springs, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Coral Springs was a Seller's Market.
Key Takeaway
Coral Springs is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Coral Springs, FL
How much do homes in Coral Springs, FL cost?
Median Sold Price
$555,563
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Coral Springs have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Coral Springs was $555,563 in May 2024, up 7.2% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $190K | +8.6% |
| 2 Bedrooms | $214.5K | $235K | +9.6% |
| 3 Bedrooms | $470K | $492K | +4.7% |
| 4 Bedrooms | $660K | $691.6K | +4.8% |
| 5+ Bedrooms | $850K | $872.5K | +2.6% |
Summary: Coral Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Cities
| Coral Springs-Margate | $330.3K | $362.5K | +9.8% |
| Coconut Creek | $314.5K | $342.3K | +8.8% |
| Coral Springs | $518.3K | $555.5K | +7.2% |
| Margate | $325.8K | $347.6K | +6.7% |
| Parkland | $1.0M | $1.0M | +1.5% |
Housing Supply in Coral Springs, FL
How many homes are available in Coral Springs, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 357 | 402 | +12.6% |
Summary: The Coral Springs real estate market had 402 homes for sale in May 2024, a 12.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 27 | 30 | +11.1% |
| 2 Bedrooms | 89 | 96 | +7.9% |
| 3 Bedrooms | 98 | 120 | +22.4% |
| 4 Bedrooms | 96 | 105 | +9.4% |
| 5+ Bedrooms | 47 | 51 | +8.5% |
Summary: The Coral Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 8.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 62 | +19.2% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Coral Springs, you may be able to get a good deal. 69.4% of homes here sold below asking price last month.
Summary: A total of 62 homes were sold or pending in Coral Springs in May 2024, up by 19.2% month-over-month. Of the 62 sold homes, 69% were sold under asking, 16% were sold at asking, and 15% were sold over asking.
Days on Market for Coral Springs, FL
How long does it take to sell a home in Coral Springs, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 42 Days | +1.8% |
Summary: Homes in Coral Springs had an average of 42 days on market in May 2024, up by 1.8% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Coral Springs are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 62 homes were sold in Coral Springs; 50% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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