NOVEMBER 2022 Edition
www.LIVEIN Parklan dBay.com 11555 Heron Bay Blvd. Suite 200 Coral Springs FL, 33076
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954.609.0591 Michael@ParklandParrot.com
#1 PARKLAND REAL ESTATE TEAM 6 YEARS IN A ROW
PARKL AND
t
B AY
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.
11970 Watermark Way PRICE IMPROVEMENT LISTED AT $1,399,900 Use Camera Phone To Watch This Property’s Creative Lifestyle Video
Marry The Home, Date The Rate. Presented by www.LIVEIN Parklan dBay.com
NOVEMBER 2022 Edition
Michael Citron
Prepared Exclusively for
Prepared Exclusively for
Get Your Free Home Evaluation Today Visit www.LIVEINParklandBay.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. Parkland Bay has 16 Homes available and 4 under contract, of which 35% 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 and can get you the best price.
11970 Watermark Way PRICE IMPROVEMENT $1,399,900
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.
P A R K L A N D
SINGLE FAMILY MARKET REPORT
16
MEDIAN SALES PRICE*
B A Y
7
$1,650,000
6
$1,500,000 $1,350,000
5
$1,200,000
8725 E Baypoint Circle
4
$1,050,000
$900,000
13
SOLD IN PAST 180 DAYS
28
AVERAGE DAYS ON MARKET
Waterfront
2021-2022 Comparison
$1,800,000
PRICE REDUCTIONS
4.5 Baths
NUMBER OF HOMES SOLD*
2021-2022 Comparison
PENDING SALES
7/20
Pool
NOVEMBER 2022 MARKET REPORT
4
ACTIVE LISTINGS
5 Beds
SOLD FOR $1,390,000 | $25,000 OVER ASKING
3
$750,000
$600,000
2
5 Bedrooms
Pool
1
3.5 Baths
Waterfront
$450,000
$300,000
8450 W Parkland Bay Trail Loft
SOLD FOR $1,265,242 | REPRESENTED BUYER 5 Beds
Pool
4 Full Baths
Waterfront
$150,000
0
0
$1,125,000 MEDIAN SALES PRICE
JULY
AUG
SEPT
OCT
JULY
* Data shown for the sales in Parkland Bay is based on the MLS as of November 7, 2022 and is deemed to be reliable but should be verified.
AUG
SEPT
OCT
2021 2022
Use Camera Phone To Watch Rita Gonzalez’s Testimonial Video.
Loft