December 2024 Real Estate Market Trends
Home Sale Trends
As December 2024 comes to a close, the real estate market for single-family homes in Coral Springs, Parkland, and Coconut Creek, Florida, remains dynamic. December 2024 brings unique trends, driven by factors such as inventory levels, buyer demand, and mortgage rates. Whether you’re a homeowner considering selling your property or a buyer looking for a new home, understanding these trends can provide valuable insights.
Throughout this article, we will explore the December 2024 market trends for each city and provide in-depth data analysis from reputable sources like the National Association of Realtors, Freddie Mac, and Bankrate.com. By the end of this article, you’ll have a comprehensive overview of where the market stands and whether it might be the right time to contact a Realtor or Real Estate Agent to guide you through the buying or selling process
December 2024 Single-Family Home Trends: Coral Springs, FL
Market Performance
Coral Springs continues to show a robust market for single-family homes. In December 2024, the city saw a balanced mix of buyer demand and inventory availability, maintaining steady growth in home prices. This trend has been driven by families and individuals seeking affordable, well-maintained properties with access to good schools and amenities.
Coral Springs Market Snapshot
Metric Value
Median Sales Price $610,000 (up 5.1% YoY).
Active Listings 320 SFH
Average Days on Market 27 days
Closed Sales 230
Coral Springs saw increased activity in December as buyers took advantage of competitive mortgage rates and a solid selection of homes for sale. The average number of days on the market has dropped compared to November 2024, signaling high buyer interest.
December 2024 Single-Family Home Trends: Parkland, FL
Market Performance
Parkland remains one of the most coveted areas for single-family homes in South Florida. With its luxury estates, excellent schools, and family-friendly atmosphere, Parkland continues to attract high-end buyers. December 2024 showed steady demand in the luxury market, with homes selling at premium prices.
Parkland Market Snapshot
Metric Value
Median Sales Price $890,000 (Up 4.5 YoY)
Active Listings 195 SFH
Average Days on Market 30 days
Closed Sales 110
Parkland’s real estate market saw fewer active listings compared to November 2024, but demand for homes for sale remained strong, particularly for larger properties with luxury features.
December 2024 Single-Family Home Trends: Coconut Creek, FL
Market Performance
Coconut Creek offers a more affordable alternative to Coral Springs and Parkland while still providing an excellent quality of life. Known for its parks and family-friendly communities, Coconut Creek continues to attract buyers, particularly first-time homeowner
Coconut Creek Market Snapshot
Metric Value
Median Sales Price $480,000 (up 3.2% YoY).
Active Listings 260
Average Days on Market 33 days
Closed Sales 180
The Coconut Creek market remains stable with moderate price growth, offering affordable houses for sale compared to neighboring cities. Buyers have been actively searching for single-family homes in this community, taking advantage of reasonable prices and competitive mortgage rates.
Mortgage Interest Rates and Buyer Opportunities
Mortgage rates are a significant driver in the real estate market, influencing buyer demand and home sales. According to Freddie Mac and Bankrate.com, the 30-year fixed mortgage rate hovered around 6.70% in December 2024, a slight decline from earlier in the year.
Recent insights from the Federal Reserve suggest that interest rate hikes are likely to remain paused through the first quarter of 2025. This creates a window of opportunity for buyers to secure relatively low mortgage rates before potential adjustments in the market.
For homeowners considering selling, this stable mortgage environment increases the pool of qualified buyers. Real estate agents can provide valuable advice on how to position your property in this favorable economic climate.
Contact The Padron Team
Navigating the real estate market in Coral Springs, Parkland, or Coconut Creek requires expertise. Whether you’re looking to sell your single-family home or find your dream house for sale, working with experienced Realtors ensures a smooth process.
Contact The Padron Team today for:
- A no-obligation home valuation.
- Expert advice on buying or selling in today’s market.
- Personalized service tailored to your real estate needs.
📞 Call:
(954) 937-1100
📧 Email:padronhometeam@gmail.com
The Padron Team
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