NOVEMBER 2022 Edition
www.LIVEIN HeronBay.com 11555 Heron Bay Blvd. Suite 200 Coral Springs FL, 33076
Permit # 3018
954.609.0591 Michael@ParklandParrot.com
#1 HERON BAY REAL ESTATE TEAM 6 YEARS IN A ROW
HERO N
t
BAY
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.
Heron Bay - Casa Del Sol 6679 NW 128th Way
LISTED AT $724,900 JUST LISTED
Marry The Home, Date The Rate. Presented by www.LIVEIN HeronBay.com
NOVEMBER 2022 Edition
Michael Citron
Prepared Exclusively for
Prepared Exclusively for
Get Your Free Home Evaluation Today Visit www.LIVEINHeronBay.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. Heron Bay has 32 Homes available and 11 under contract, of which 44% of the homes have had price reductions. With overall inventory reaching pre-Covid numbers we may see the Parkland 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 andcan get you the best price.
6255 NW 120th Drive | The Falls SOLD FOR $1,510,000 | $10,000 OVER ASKING
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.
H E R O N
SINGLE FAMILY MARKET REPORT
32
MEDIAN SALES PRICE*
PENDING SALES
PRICE REDUCTIONS
1
ACTIVE LISTINGS
2021-2022 Comparison
$1,200,000
19/43
5
NUMBER OF HOMES SOLD*
2021-2022 Comparison
PENDING SALES
30 25
$800,000
SOLD FOR $1,380,000 | REPRESENTED SELLER
PRICE REDUCTIONS
20
$700,000
11990 NW 81st Ct | Sawgrass Bay
3/6
$1,100,000
$900,000
11466 NW 81st Place | Osprey Lake UNDER CONTRACT | REPRESENTED SELLER
35
$1,000,000
SOLD FOR $1,250,000 | REPRESENTED SELLER
TOWNHOME MARKET REPORT
NOVEMBER 2022 MARKET REPORT
11
ACTIVE LISTINGS
B A Y
7562 NW 127th Manor | The Vistas
$600,000
26
SOLD IN PAST 90 DAYS
25
AVERAGE DAYS ON MARKET
$400,000
MEDIAN SALES PRICE
21
10
$300,000
$200,000
SOLD IN PAST 180 DAYS
5
$100,000
0
$939,500
15
$500,000
27
AVERAGE DAYS ON MARKET
0 JULY
AUG
SEPT
OCT
JULY
AUG
* Data shown for the sales in Heron Bay is based on the MLS as of November 7, 2022 and is deemed to be reliable but should be verified.
SEPT
2021 2022
OCT
$515,000 MEDIAN SALES PRICE
6838 NW 117th Ave | Olde Brooke SOLD FOR $1,400,000 | REPRESENTED SELLER
7174 NW 116th Way | Bay Cove
SOLD FOR $755,000 | $5,000 OVER ASKING