SEPTEMBER 2022 Edition
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RIDG E
REAL ESTATE MARKET REPORT
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6733 NW 105th Lane
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SEPTEMBER 2022 Edition
Michael Citron
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From Your Real Estate Expert
Michael Citron
The Back to School Market has certainly shown face. We are seeing the buyer demand slow down as many parents aren’t looking to make moves at the start of the school year. Inventory has increased across Parkland and there are certain communities that have larger months of supply. Fox Ridge has 7 Homes available and 3 under contract, of which 20% of the homes have had price reductions. This data shows that homeowners have to be a bit more aggressive in their pricing strategy. Fox Ridge has a 7 months supply of inventory which puts the community just over the buyer’s market threshold as long as the month’s supply of inventory remains above 6 months. When you are looking to sell your home keep in mind to list with a Top Selling Realtor who uses a unique marketing campaign to get you the best offer.
6733 NW 105th Lane
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 3rd quarter of 2022.
F O X
SINGLE FAMILY MARKET REPORT
7
5 Beds
Pool
4 Full Baths
$300,000 Custom Upgrades
R I D G E
SEPTEMBER 2022 MARKET REPORT
3
ACTIVE LISTINGS
JUST LISTED $1,284,900
MEDIAN SALES PRICE*
NUMBER OF HOMES SOLD*
2021-2022 Comparison
2021-2022 Comparison
PENDING SALES $1,200,000
7
$1,100,000
2/10
PRICE REDUCTIONS
6
$1,000,000 $900,000
5
$800,000
SOLD FOR $1,030,000 $30,000 OVER ASKING
4
$700,000
$600,000
3
SOLD IN PAST 90 DAYS
31
AVERAGE DAYS ON MARKET
$400,000
MEDIAN SALES PRICE
2
$300,000
$200,000
1
$100,000
0
$1,035,000
3
$500,000
SOLD FOR $1,040,000 $40,000 OVER ASKING
0 MAY
JUNE
JULY
AUG
MAY
JUNE
JULY
2021 * Data shown for the sales in Fox Ridge is based on the MLS as of September 14, 2022 and is deemed to be reliable but should be verified.
2022
6518 NW 103rd Lane
6478 NW 103rd Lane
Represented Seller
Represented Buyer & Seller
AUG
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