NOVEMBER 2022 Edition
www.LIVEIN CypressHea d.com 11555 Heron Bay Blvd. Suite 200 Coral Springs FL, 33076
Permit # 3018
954.609.0591 Michael@ParklandParrot.com
#1 PARKLAND REAL ESTATE TEAM 6 YEARS IN A ROW
CYPRESS
t
ATTENTION HOMEBUYERS:
HEA D
REAL ESTATE MARKET REPORT
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 6720 Yellowstone Lane
3-2-1 Buydown
Permanent Buydown
5-Year Arm
UNDER CONTRACT
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.
FULL DETAILS INSIDE
Marry The Home, Date The Rate. Presented by www. LIVEIN CypressHea d.com
NOVEMBER 2022 Edition
Michael Citron
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Get Your Free Home Evaluation Today Visit www.LIVEINCypressHead.com
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. Cypress Head has 7 Homes available and 1 under contract, of which 75% of the homes have had price reductions. 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 for your investment. 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.
C Y P R E S S
SINGLE FAMILY MARKET REPORT
7
UNDER CONTRACT | REPRESENTED SELLER
H E A D
MEDIAN SALES PRICE*
Pool
3.5 Baths
5 Bedrooms
NOVEMBER 2022 MARKET REPORT
1
ACTIVE LISTINGS
6720 Yellowstone Lane
NUMBER OF HOMES SOLD*
2021-2022 Comparison
2021-2022 Comparison
PENDING SALES $1,800,000
7
$1,650,000
6/8
PRICE REDUCTIONS
6
$1,500,000 $1,350,000
5
$1,200,000
4
$1,050,000
$900,000
8
SOLD IN PAST 90 DAYS
56
AVERAGE DAYS ON MARKET
3
$750,000
$600,000
2
4 Beds
Pool
4 Bedrooms
1
2 Full Baths
Custom Upgrades
2.5 Baths
$450,000
$300,000 $150,000
Pool
0 JULY
$1,516,500 MEDIAN SALES PRICE
AUG
SEPT
OCT
JULY
* Data shown for the sales in Cypress Head is based on the MLS as of November 7, 2022 and is deemed to be reliable but should be verified.
AUG
SEPT
2021 2022
OCT
7320 Dover Court SOLD FOR $1,149,900 | Represented Seller
7210 W Cypresshead Dr SOLD FOR $1,115,000 | Represented Buyer & Seller