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Coconut Creek Florida Real Estate Market Update January 2011

Coconut Creek Real Estate Single Family Market Home Update For January 2011 Presented By Realtor Michael Citron

Property Address Type Of Listing Community Price Beds/Baths Square Feet
4150 Vinkemulder Road Bank Foreclosure Palm Beach Farms $585,000 5/5.5 3,651
5154 NW 74th Place Regular Sale Country Woods $378,000 5/3 2,659
4475 Banyan Trails Drive Short Sale Banyan Trails $255,000 4/3 2,396
4928 Cypress Lane Short Sale Hilton Estates $248,000 5/3 2,234
5151 NW 43rd Avenue Short Sale Winston Park $215,000 4/2 1,865
5286 NW 51st Court Bank Foreclosure Winston Park $210,000 3/3 2,536
3642 Coco Lake Drive Bank Foreclosure Coco Lakes $196,000 3/2 1,411
4432 NW 43rd Street Bank Foreclosure Coquina $194,000 3/2 1,800
5511 NW 49th Way Bank Foreclosure Winston Park $187,000 4/2.5 2,160
4289 Acacia Drive Regular Sale Sawgrass Village $170,000 2/2 1,475
5431 NW 49th Court Short Sale Winston Park $170,000 3/2 1,573
4766 NW 7th Manor Bank Foreclosure La Margarita $168,900 3/2.5 1,579
3371 NW 22nd Street Short Sale Centura Parc $160,000 3/2 1,727
3783 NW 59th Street Bank Foreclosure Parkwood $155,300 3/2 1,766

There were 14 total single family sales for the month of January, 2011 ranging in price from $155,300 to $585,000. Last month, there were  21 total single family home sales. There were 7 less Coconut Creek single family homes sold in the month of January, 2011 than in December, 2010.

Among the 14 sales for the month of January, 12 were distressed sales (bank foreclosures, corporate owned, or short sales).  86% of the sales were distressed ones.  This is certainly a shocking number.  But, truth be told that the more distressed sales that get bought by purchasers and come off the market as quickly as possible is a good thing.

But, current homeowners that are thinking about selling their homes or worried about current market values should take notice. There was also a drop in overall sales from the end of 2010 to January 2011.  But, many buyers look to close before the end of the calendar year for tax and homestead benefits.  As a result, sales should increase in the coming months.

With prices at such record low levels, many on-the-fence buyers should jump into the real estate mix and purchase a property.  Interest rates are still at record low numbers, but will continue to steadily climb in the coming months.  It could be the best time to pull the trigger on a home purchase.

We know the numbers, we analyze the market, our clients make better decisions. If you are interested in buying or selling real estate in Coconut Creek or South Florida and are looking for experienced local Coconut Creek Realtors, please do not hesitate to contact us at 954-609-0591 or send us a message here.

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