Monday, March 18, 2019 / by Andy Mandel
Now that we’re almost finished with the first quarter of 2019, what do the numbers say about our Coral Springs market? Here is an analysis of how the latest single-family home stats from the first two months of the year compared to 2018’s numbers:
- The number of new homes coming on the market increased by 1%
- The number of closed sales, meanwhile, stayed relatively flat
- The median sales price only increased by 3.77%, which is a considerable drop from the double-digit increases we saw last year and the years prior
- The average days on market increased from 32 days to 42 days
Because the number of new listings rose and the number of closed sales stayed the same, there is currently more inventory for buyers to choose from, which should put downward pressure on pricing moving forward. Homes are also taking longer to sell, which means the market is moving slower in general.
The good news is this isn’t anything to be concerned about. All this means is we’re moving toward a more normalized market. Overall, it’s still an excellent time to buy or sell a home.
If you have any more questions about our Coral Springs market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.