NOVEMBER 2022 Edition
www.LIVEIN EastParklan d.com 11555 Heron Bay Blvd. Suite 200 Coral Springs FL, 33076
Permit # 3018
954.609.0591 Michael@ParklandParrot.com MAYFAI R · MI LL R UN · PAR KWOOD · PAR KL AND PL ACE · L A K E S AT PA RK L A N D CYPR E SS CAY · PAR KSI DE E STATE S · WATE R ’ S ED GE E STAT E S
EAST
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ATTENTION HOMEBUYERS:
PARKL A N D
REAL ESTATE MARKET REPORT
KNOW YOUR
OPTIONS!
Join Us For This Summer’s Hottest
Home
Selling Event!
Flip To Page 4 For More Details.
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.
6720 Yellowstone Ln UNDER CONTRACT CYPRESSHEAD
Marry The Home, Date The Rate. Presented by www.LIVEIN EastParklan d.com
NOVEMBER 2022 Edition
Michael Citron
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Get Your Free Home Evaluation Today Visit www.LIVEINEastParkland.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. 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.
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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
ACTIVE LISTINGS
PENDING SALES
3
0
0
0
3
0
1
0
1
0
3
0
MAYFAIR MILL RUN PARKWOOD PARKLAND PLACE LAKES AT PARKLAND CYPRESS CAY PARKSIDE ESTATES WATER’S EDGE ESTATES
1 2
1 0
SOLD
MEDIAN SALES PRICE
2
$745,000
3
$710,000
3
$625,000
1
$608,000
1
$565,000
7
$688,000
MEADOW RUN
6526 NW 99th Lane
LISTED AT $1,284,900
UNDER CONTRACT | REPRESENTED SELLER
FOX RIDGE
MAYFAIR
SOLD FOR $1,040,000 $40,000 OVER ASKING
SOLD FOR $710,000 $80,000 OVER ASKING
IN PAST 180 DAYS
IN PAST 180 DAYS
IN PAST 365 DAYS
IN PAST 2 YEARS
IN PAST 360 DAYS
IN PAST 360 DAYS
5
IN PAST 365 DAYS
3
IN PAST 180 DAYS
6478 NW 103rd Lane
6349 NW 78th Drive
Represented Buyer & Seller
Represented Seller
$665,000 $915,000
We Have Cash Buyers Ready To Buy Homes Just Like Yours.