NOVEMBER 2022 Edition
www.LIVEIN Parklan dIsles.com 11555 Heron Bay Blvd. Suite 200 Coral Springs FL, 33076
Permit # 3018
954.609.0591 Michael@ParklandParrot.com
#1 PARKL AND IS L ES REAL ESTATE TE A M IN 2021
PARKL AND
t
I S L ES
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.
10946 NW 66th Ct
SOLD FOR $950,000 FULL DETAILS INSIDE
Marry The Home, Date The Rate. Presented by www.LIVEIN Parklan dIsles.com
NOVEMBER 2022 Edition
Michael Citron & Paula Alves
Prepared Exclusively for
Prepared Exclusively for
Get Your Free Home Evaluation Today Visit www.LIVEINParklandIsles.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 Isles has 6 Homes available and 2 under contract, of which 50% 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. 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.
SINGLE FAMILY MARKET REPORT
6
P A R K L A N D
NOVEMBER 2022 MARKET REPORT
2
ACTIVE LISTINGS
MEDIAN SALES PRICE*
5 Beds
Pool
3 Full Baths
Waterfront
3 Full Baths
$100K In Upgrades
10946 NW 66th Ct SOLD FOR $950,000 | REPRESENTED SELLER
11205 NW 71st Ct SOLD FOR $990,000 | REPRESENTED SELLER
2021-2022 Comparison
$1,200,000
PRICE REDUCTIONS
Pool
NUMBER OF HOMES SOLD*
2021-2022 Comparison
PENDING SALES
4/8
I S L E S
5 Beds
7
11012 NW 70th Ct
$1,100,000
6
$1,000,000 $900,000
SOLD FOR $980,000 REPRESENTED SELLER
5
$800,000
HIGHEST
Parkland Isles Sale in 2021
4
$700,000
$600,000
8
SOLD IN PAST 90 DAYS
28
AVERAGE DAYS ON MARKET
3
$500,000
$400,000
2
$300,000
$200,000
1
$100,000
0
$805,000 MEDIAN SALES PRICE
0 JULY
AUG
SEPT
OCT
JULY
AUG
SEPT
2021 * Data shown for the sales in Parkland Isles as of November 7, 2022 and is based on the MLS and is deemed to be reliable but shoul be verified.
2022
OCT
10971 NW 69th Pl SOLD FOR $1,015,000 $140,000 OVER ASKING
2ND HIGHEST
Parkland Isles Sale in 2022
WE ARE BREAKING OUR OWN RECORD!
10980 NW 69th Pl SOLD FOR $1,015,000 | $140,000 OVER ASKING
HIGHEST SALE EVER
Parkland Isles Sale in 2021