South Florida Real Estate

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Vickie Arcuri, P.A., GRI, CLHMS, Realtor®

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Coconut Creek Homes

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Coconut Creek Real Estate Market Report

Coconut Creek Homes for Sale

Currently, the Inventory of Coconut Creek Single Family Homes for Sale remains low, though slightly increased from my report a month ago when Inventory of Single Family Homes was 121 compared to 135 now. The price range of the active listings is $98,000 – $2,995,000, with an average list price of $269,900 .    

The $2,995,000 Home has 8 Bedrooms, 8 Baths, 14,406 Square Feet, a 4- Car Garage, and Pool, was Built in 2009, and has 2+ Acres of Land, built in 2009, a beautiful Luxury Home located in The Estates of Coconut Creek.  Click here to view the Property listing.

The $98,000 Home has 3 Bedrooms, 2 Baths and is located in Lakeview Homes at Centura.  Details in the listing state that it’s a Short Sale that has 2 Lien Holders and is in need of repair.  This Property would be a great fit for an Investor, Cash Buyer instead of someone who’s interested in purchasing a primary residence.    I say that because:

  1. Investors usually have more patience when dealing with Short Sale transactions and are usually less likely to walk away from the deal when it’s taking a long time to Close
  2. Investors usually have less specific timeframes for purchasing than Buyers who are interested in occupying the Home
  3. Short Sale listings that have 2 Lien Holders are even more challenging to get approved than Short Sales that have 1 Lien Holder
  4. Cash sales of properties in need of significant repair are easier to close than financed sales (although a 203K Loan could be possible) and the Bank reviewing a Cash offer vs. a Financed offer would probably be more inclined to accept a Cash offer (no Financing, Inspection, or Appraisal Contingences = significantly increased chance of closing)
  5. Investors are typically much more interested in properties in need of repair than the majority of Buyers who plan to occupy as their primary Residence.

Inventory of Condos, Townhouses, and Villas in Coconut Creek is higher than that of Single Family Homes and currently, 401 Townhouses, Villas, and Condos in Coconut Creek are listed for Sale through Brokers, with a price range of $26,900 – $322,000.   

Of the 401 Condo, Townhouse, and Villa listings, 160 are located in the Age 55+ Senior Community of Wynmoor Village and these 160 listings comprise the majority of the lowest priced Condo listings in Coconut Creek.

Coconut Creek Single Family Homes Sold*

  • During the month of April, 2010, 20 Single Family Homes were purchased through Brokers. Their purchase price range was $127,500 – $290,000, with an average purchase price of $217,335.  Of the 20 Homes purchased, 6 were Short Sales and 6 were Bank owned Foreclosures
  • The Homes purchased are located in the Communities of Victoria Isles, Banyan Trails, Coquina, Centura Parc, Cypress Lake in Winston Park, Sorbet in Winston Park, Regency Lakes, Sawgrass Village in Township Estates, Somerset at Lauren’s Turn in Winston Park, and Coral Pointe in Winston Park
  • Currently, 105 Single Family Homes are listed as being under Pending Contract for purchase

Coconut Creek Condos, Townhouses, and Villas Sold*

  • Within the month of April, 66 Condos, Townhouses, and Villas were purchased through Brokers.  Their purchase price range was $22,000 – $234,900, with an average purchase price of $73,238.   30 of the sales were in Wynmoor Village and were the majority of the lowest priced sales
  • Of the 66 Sales, 53 are indicated to have been Cash purchases (this is typical in the current Real Estate market in the case of Condos that don’t meet Lending criteria for Financing (aren’t Fannie Mae or FHA approved)
  • Currently, 287 Condos, Villas, and Townhouses are listed as being under Pending Contract for purchase

Click here to start your search for Homes in Coconut Creek and to view information about the City of Coconut Creek, Butterfly Capital of the World.  Coconut Creek is located ~20 minutes North of Ft. Lauderdale, so could be a great choice to consider if you’re thinking of working in Ft. Lauderdale or living near the area.

Related Information:

*Property Sales as recorded in the MLS/Multiple Listing Service (the central Database where Brokers input and store listing and purchase data for properties that they represent for property Owners)

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