NOVEMBER 2022 Edition
www.LIVEIN TallPin es.com 11555 Heron Bay Blvd. Suite 200 Coral Springs FL, 33076
Permit # 3018
954.609.0591 Michael@ParklandParrot.com
#1 PARKLAND REAL ESTATE TEAM 6 YEARS IN A ROW
TALL
t
PINES
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.
6733 NW 105th Lane
JUST LISTED IN FOX RIDGE FULL DETAILS INSIDE
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NOVEMBER 2022 Edition
Michael Citron
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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. Tall Pines has 5 Homes available and 1 under contract, of which 33% 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.
FOX RIDGE
6733 NW 105th Lane JUST LISTED $1,294,900
9
T A L L
SINGLE FAMILY MARKET REPORT
5
NOVEMBER 2022 MARKET REPORT
1
ACTIVE LISTINGS
P I N E S
MEDIAN SALES PRICE*
5 Beds
Pool
4 Full Baths
$300,000 Custom Upgrades
NUMBER OF HOMES SOLD*
2021-2022 Comparison
2021-2022 Comparison
PENDING SALES $1,800,000
2/6
PRICE REDUCTIONS
7
$1,650,000
6
$1,500,000 $1,350,000
5
$1,200,000
4
$1,050,000
$900,000
2
SOLD IN PAST 180 DAYS
42
AVERAGE DAYS ON MARKET
3
$750,000
$600,000
TALL PINES
2
$450,000
$300,000
6030 NW 84th Terrace
1
$150,000
0
$1,950,000 MEDIAN SALES PRICE
$150,000 OVER LIST PRICE | SOLD FOR $1,850,000
0 JULY
AUG
SEPT
OCT
JULY
* Data shown for the sales in Tall Pines is based on the MLS as of November 7, 2022 and is deemed to be reliable but should be verified.
AUG
SEPT
2021 2022
OCT
4 Bedrooms
Pool
5 Full Baths
Custom Upgrades
Represented Seller