Fort Lauderdale's Coral Ridge Neighborhood | Country Club Estates

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Fort Lauderdale's Coral Ridge Neighborhood & Country Club Estates

After the initial Coral Ridge research in November, here is a new mid-year update.

Coral Ridge Fort Lauderdale

SEPT 2016: Today there are 107 Coral Ridge homes for sale in our neighborhood with a median list price of $1.3M at 3,594 square feet. 12 homes have sold over the last 30 days equaling a 9-month supply while the median sale price was $689,250 ($325 SP$/PSF) at 2,643 square feet.

This 6-Year snapshot of sales & trends shows us how well the Coral Ridge community is growing in demand and in value.

Year To Date (YTD) – Total # Homes SOLD | Median Sale Price (M$/SP) | Median Sale Price Per Square Foot (SP$/PSF) | Average Days On Market (DOM)

• 2016 – 68 Homes Sold (YTD) | $718,500 M$/SP | $319 SP$/PSF | 126 DOM (8% Appreciation)
• 2015 – 156 Homes Sold | $709,500 M$/SP | $295 SP$/PSF | 93 DOM (2% Appreciation)
• 2014 – 137 Homes Sold | $765,000 M$/SP | $288 SP$/PSF | 115 DOM (6% Appreciation)
• 2013 – 141 Homes Sold | $640,000 M$/SP | $271 SP$/PSF | 99 DOM (13% Appreciation)
• 2012 – 149 Homes Sold | $638,000 M$/SP | $237 SP$/PSF | 136 DOM (5% Appreciation)
• 2011 – 121 Homes Sold | $590,000 M$/SP | $225 SP$/PSF | 143 DOM

From this chart, we find a noticeable jump in Q1's days on market. This new home selection has allowed buyer's to obtain better pricing with discounts (9%in April) from the original list price. In the current market, pricing is crucial when there are other similar home options available. Sellers tend to list higher than they should while anticipating the game of offers and negotiations. In the end, prices come down and after trial & error while the discounts from the original price tend to be larger.

Coral Ridge Country Club Estates

• 2016 – 57 Active Homes for Sale | $1.240M Median Asking Price | $381 Median Asking PPSF

This 6-Year snapshot of sales & trends shows us how well the Country Club Estates community is growing in demand and in value.

Year To Date (YTD) – Total # Homes SOLD | Median Sale Price (M$/SP) | Median Sale Price Per Square Foot (SP$/PSF) | Average Days On Market (DOM)

• 2016 – 29 Homes Sold (YTD) | $780,000 M$/SP | $314 SP$/PSF | 135 DOM (4% Appreciation)
• 2015 – 79 Homes Sold | $835,000 M$/SP | $301 SP$/PSF | 118 DOM (9% Appreciation)
• 2014 – 57 Homes Sold | $766,625 M$/SP | $273 SP$/PSF | 132 DOM (-1% Depreciation)
• 2013 – 65 Homes Sold | $700,000 M$/SP | $274 SP$/PSF | 130 DOM (16% Appreciation)
• 2012 – 73 Homes Sold | $625,000 M$/SP | $229 SP$/PSF | 138 DOM (7% Appreciation)
• 2011 – 56 Homes Sold | $602,500 M$/SP | $214 SP$/PSF | 149 DOM

We can easily see from these figures, that Coral Ridge Country Club Estates homes are still in demand with an increase in selling price per square foot and 4% appreciation so far in 2016. This graph below shows us averages while I look at Median sale price values. I'll report back soon with a pricing band analysis and again at the end of the year with the final 2016 sales figures & area trends. Thank you for reading!

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