NOVEMBER 2022 Edition
www.LIVEIN Countr ysPoint .com 11555 Heron Bay Blvd. Suite 200 Coral Springs FL, 33076
Permit # 3018
954.609.0591 Michael@ParklandParrot.com
COUNTRY PL ACE · COUNTRY POINT ESTATES · SABLE PASS
CO U NTRY ’ S
t
P OI N T
REAL ESTATE MARKET REPORT
ATTENTION HOMEBUYERS:
KNOW YOUR
OPTIONS! Don’t Be Intimidated By The Mortgage Rates. If You’re A Buyer, It’s Time To Get Informed!
3 2 1 3-2-1 Buydown
Permanent Buydown
5-Year Arm
A type of loan that starts out with a low interest rate and rises over the next several years until it reaches its permanent rate where the buyer can then refinance for a new rate.
By financing the discount points up front, the interest rate can be up to 75 basis points lower than prevailing market rates.
A loan with a fixed interest rate for the first 5 years. Afterward, the 5/1 ARM switches to an adjustable interest rate for the remainder of its term or the buyer can refinance.
6733 NW 105th Lane
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NOVEMBER 2022 Edition
Michael Citron
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From Your Real Estate Expert
Michael Citron
The Holiday Season is upon us and that means that the seller market tends to slow down. This is obvious as most sellers and buyers are trying to plan their vacations and decorating their homes. If you are a buyer it is time to strategize and prepare for what is to come especially with the recent dip in mortgage rates into the 6% range. Country’s Point has 1 Home available and 0 under contract. With overall inventory in Parkland reaching pre-Covid numbers we may see our City’s Real Estate Market turn into a Buyer’s Market within the first 2 quarters of 2023. Our current supply of inventory is around 4 months leaving us 2 months shy of that 6 month mark. If you’re selling your home you should align yourself with an agent on our team who has their pulse on the market and can get you the best price. Please be on the lookout for our market update in the Parklander every month for an in-depth look into the market and past sales in Parkland & Coral Springs as well as my Personal Insight as to what we can expect in the 4th quarter of 2022.
Fox Ridge
6733 NW 105th Lane LIST PRICE $1,294,900
SINGLE FAMILY MARKET REPORT
1
C O U N T R Y ’ S
NOVEMBER 2022 MARKET REPORT
0
ACTIVE LISTINGS
P O I N T
MEDIAN SALES PRICE*
Pool
4 Full Baths
$300,000 Custom Upgrades
NUMBER OF HOMES SOLD*
2021-2022 Comparison
PENDING SALES
5 Beds
2021-2022 Comparison
$1,200,000
7
$1,100,000
0/1
6
$1,000,000 $900,000
PRICE REDUCTIONS
5
$800,000
4
$700,000
$600,000
9
SOLD IN PAST 180 DAYS
15
AVERAGE DAYS ON MARKET
3
$500,000
$400,000
Cypresshead
6720 Yellowstone Ln
2
$300,000
$200,000
1
UNDER CONTRACT | REPRESENTED SELLER
$100,000
0
$850,000 MEDIAN SALES PRICE
0 JULY
AUG
SEPT
OCT
JUNE
* Data shown for the sales in Country’s Point is based on the MLS as of November 7, 2022 and is deemed to be reliable but should be verified.
JULY
AUG
SEPT
2021 2022
5 Beds
Pool
3.5 Full Baths
Custom Upgrades