Watercrest - September 2022

SEPTEMBER 2022 Edition

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W A T E R C R E S T REAL ESTATE MARKET REPORT

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SEPTEMBER 2022 Edition

Michael Citron & Stephanie 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.

Watercrest has 6 Homes available and 3 under contract, of which 22% of the homes have had price reductions. This data shows that homeowners have to be a bit more aggressive in their pricing strategy. Watercrest has a 2 months supply of inventory which makes and averaging 18 days on the market which is below the City’s average. 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.

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.

6

ACTIVE LISTINGS

MEDIAN SALES PRICE*

2/9

Waterfront

2.5 Baths

Corner Lot

8820 Watercrest Circle West UNDER CONTRACT | LISTED AT $934,900

2020-2021 Comparison

$1,600,000

7

$1,400,000

6

$1,200,000

PRICE REDUCTIONS

3.5 Baths

NUMBER OF HOMES SOLD*

2020-2021 Comparison

PENDING SALES

4 Beds

UNDER CONTRACT | LISTED AT $1,174,900

SEPTEMBER 2022 MARKET REPORT

3

Pool

11056 Meridian Dr N

W A T E R C R E S T

SINGLE FAMILY MARKET REPORT

4 Beds

5

$1,000,000

4

$800,000

10

SOLD IN PAST 90 DAYS

18

AVERAGE DAYS ON MARKET

3 $600,000

$400,000

2

5 Bedrooms

Loft

5 Beds + Office

Loft

1

5.5 Baths

Pool

4 Bathrooms

Represented Seller

$200,000

0

$1,330,000 MEDIAN SALES PRICE

0 MAY

JUNE

JULY

AUG

MAY

* Data shown for the sales in Watercrest is based on the MLS as of September 14, 2022 and is deemed to be reliable but should be verified.

JUNE

JULY

2021 2022

AUG

9065 Watercrest Cir W SOLD FOR $1,650,000 | $50,000 OVER ASKING

10982 Pinnacle Way SOLD FOR $1,360,000 | $60,000 OVER ASKING