Is Pembroke Pines, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Pembroke Pines was a Seller's Market.
Key Takeaway
Pembroke Pines is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Pembroke Pines, FL
How much do homes in Pembroke Pines, FL cost?
Median Sold Price
$472,898
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pembroke Pines have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in Pembroke Pines was $472,898 in May 2024, up 5.1% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $175K | +6.1% |
| 2 Bedrooms | $260.5K | $274.5K | +5.4% |
| 3 Bedrooms | $515K | $550K | +6.8% |
| 4 Bedrooms | $687.6K | $725K | +5.4% |
| 5+ Bedrooms | $877.5K | $932.5K | +6.3% |
Summary: Pembroke Pines housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Cooper City | $608K | $675K | +11.0% |
| Miramar-Pembroke Pines | $455.6K | $491.2K | +7.8% |
| Miramar | $485K | $520K | +7.2% |
| Pembroke Pines | $449.8K | $472.8K | +5.1% |
| Southwest Ranches | $1.3M | $1.4M | +3.7% |
Housing Supply in Pembroke Pines, FL
How many homes are available in Pembroke Pines, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 763 | 826 | +8.3% |
Summary: The Pembroke Pines real estate market had 826 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 77 | 94 | +22.1% |
| 2 Bedrooms | 316 | 340 | +7.6% |
| 3 Bedrooms | 205 | 210 | +2.4% |
| 4 Bedrooms | 134 | 146 | +9.0% |
| 5+ Bedrooms | 31 | 36 | +16.1% |
Summary: The Pembroke Pines housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 16.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 139 | 132 | -5.0% |
Asking Price vs. Sold Price
81 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pembroke Pines, you may be able to get a good deal. 61.4% of homes here sold below asking price last month.
Summary: A total of 132 homes were sold or pending in Pembroke Pines in May 2024, down by 5.0% month-over-month. Of the 132 sold homes, 61% were sold under asking, 22% were sold at asking, and 17% were sold over asking.
Days on Market for Pembroke Pines, FL
How long does it take to sell a home in Pembroke Pines, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 41 Days | +11.1% |
Summary: Homes in Pembroke Pines had an average of 41 days on market in May 2024, up by 11.1% compared to last year.
Breakdown of Home Sale Times
71 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pembroke Pines are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 132 homes were sold in Pembroke Pines; 54% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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