Market Conditions – Kensington – Coral Springs
Kensington is located in the northwest section of Coral Springs. It is bordered by the Sawgrass Expressway, Coral Springs Drive, Wiles Road and Coral Ridge Drive. The area is mostly comprised of detached single family Mediterranean style homes. Homes were built between 1992 and 2002. The median size home is 2600 sf and has 4 bedrooms and 2 bathrooms. The median home price over the past 12 months was $389,000.
Since September 2011 homes in this neighborhood have appreciated closed to 40%. The median home price in Sept 2011 was $278,000. More recently, in the past six months from September 2015 to March 2016 prices have declined 2.75%. The peak of the market (over the past 5 years) appears to have been September 2015 with a median price of $400,000.
The average days on market (number of a days a home is listed before going under contract) have increased by 18% from March 2015 to March 2016, 75 days to 89 days. The days on market is now the highest since September 2011 (110 days). The number of sales has increased 46% over the past year from 24 Sales in 2015 to 35 sales in 2016.
Please call us today to find out what your home is worth at 561-441-9298.