Is Coral Springs-Margate, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Coral Springs-Margate was a Seller's Market.
Key Takeaway
Coral Springs-Margate is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Coral Springs-Margate, FL
How much do homes in Coral Springs-Margate, FL cost?
Median Sold Price
$362,595
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Coral Springs-Margate have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Coral Springs-Margate was $362,595 in May 2024, up 9.8% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $136K | $130K | -4.4% |
| 2 Bedrooms | $235K | $250K | +6.4% |
| 3 Bedrooms | $417.6K | $441.2K | +5.7% |
| 4 Bedrooms | $590K | $611.3K | +3.6% |
| 5+ Bedrooms | $802K | $825K | +2.9% |
Summary: Coral Springs-Margate housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 2.9%.
Median Sold Price Compared To Nearby Cities
| North Lauderdale | $307.5K | $345K | +12.2% |
| Coral Springs-Margate | $330.3K | $362.5K | +9.8% |
| Coral Springs | $518.3K | $555.5K | +7.2% |
| Margate | $325.8K | $347.6K | +6.7% |
| Tamarac | $295.5K | $315K | +6.6% |
Housing Supply in Coral Springs-Margate, FL
How many homes are available in Coral Springs-Margate, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 743 | 829 | +11.6% |
Summary: The Coral Springs-Margate real estate market had 829 homes for sale in May 2024, a 11.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 65 | 67 | +3.1% |
| 2 Bedrooms | 325 | 370 | +13.8% |
| 3 Bedrooms | 219 | 243 | +11.0% |
| 4 Bedrooms | 96 | 108 | +12.5% |
| 5+ Bedrooms | 38 | 41 | +7.9% |
Summary: The Coral Springs-Margate housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 7.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 123 | 121 | -1.6% |
Asking Price vs. Sold Price
76 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Coral Springs-Margate, you may be able to get a good deal. 62.8% of homes here sold below asking price last month.
Summary: A total of 121 homes were sold or pending in Coral Springs-Margate in May 2024, down by 1.6% month-over-month. Of the 121 sold homes, 63% were sold under asking, 18% were sold at asking, and 19% were sold over asking.
Days on Market for Coral Springs-Margate, FL
How long does it take to sell a home in Coral Springs-Margate, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 50 Days | +38.2% |
Summary: Homes in Coral Springs-Margate had an average of 50 days on market in May 2024, up by 38.2% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
46 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Coral Springs-Margate are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 121 homes were sold in Coral Springs-Margate; 46% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
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