NOVEMBER 2022 Edition
www.LIVEIN Ternbridge.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
TERNBRIDG E
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ATTENTION HOMEBUYERS:
REAL ESTATE MARKET REPORT
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.
6526 NW 99th Lane
UNDER CONTRACT FULL DETAILS INSIDE
Marry The Home, Date The Rate. Presented by www.LIVEIN Ternbridge.com
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. Ternbridge has 4 Homes available and 1 under contract, of which 80% 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.
6526 NW 99th Lane UNDER CONTRACT | REPRESENTED SELLER 3 Full Baths
5 Beds
NOVEMBER 2022 MARKET REPORT
1
ACTIVE LISTINGS
Custom Upgrades
T E R N B R I D G E
SINGLE FAMILY MARKET REPORT
4
Pool
MEDIAN SALES PRICE*
NUMBER OF HOMES SOLD*
2021-2022 Comparison
2021-2022 Comparison
PENDING SALES $1,200,000
7
$1,100,000
4/5
6
$1,000,000 $900,000
PRICE REDUCTIONS
5
$800,000
FOX RIDGE
6733 NW 105th Lane
4
$700,000
$600,000
4
SOLD IN PAST 180 DAY
6
AVERAGE DAYS ON MARKET
$400,000
MEDIAN SALES PRICE
2
$300,000
$200,000
1
$100,000
0
$1,137,500
JUST LISTED $1,294,900
3
$500,000
5 Beds
Pool
4 Full Baths
$300,000 Custom Upgrades
Use Camera Phone To Watch This Property’s Creative Lifestyle Video
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* Data shown for the sales in Ternbridge is based on the MLS as of November 7, 2022 and is deemed to be reliable but should be verified.
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SEPT
2021 2022
OCT
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