$2,078 Closing Credit*
$175,000
990 SqFt
2 Beds
•1 Full Bath
Laura Coll, Listing Office: United Realty Group Inc
Is Margate, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Margate was a Seller's Market.
Key Takeaway
Margate is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Margate, FL
How much do homes in Margate, FL cost?
Median Sold Price
$350,000
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$25,000(+7.7%)
Key Takeaway
Homes in Margate have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Margate was $350,000 in September 2024, up 7.7% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $108K | $110K | +1.9% |
| 2 Bedrooms | $220K | $210K | -4.5% |
| 3 Bedrooms | $436.8K | $465K | +6.5% |
| 4 Bedrooms | $488.7K | $572.5K | +17.1% |
| 5+ Bedrooms | $457.5K | $522.5K | +14.2% |
Summary: Margate housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 14.2%.
Median Sold Price Compared To Nearby Cities
| Coconut Creek | $325K | $365.2K | +12.4% |
| Coral Springs-Margate | $342.6K | $374.9K | +9.4% |
| Margate | $325K | $350K | +7.7% |
| North Lauderdale | $326K | $350K | +7.4% |
| Coral Springs | $538.5K | $569.4K | +5.7% |
Housing Supply in Margate, FL
How many homes are available in Margate, FL?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 232 | 239 | +3.0% |
Summary: The Margate real estate market had 239 homes for sale in September 2024, a 3.0% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 33 | 35 | +6.1% |
| 2 Bedrooms | 118 | 124 | +5.1% |
| 3 Bedrooms | 56 | 53 | -5.4% |
| 4 Bedrooms | 22 | 24 | +9.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Margate housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 5.1%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 42 | 27 | -35.7% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Margate, you may be able to get a good deal. 51.9% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in Margate in September 2024, down by 35.7% month-over-month. Of the 27 sold homes, 52% were sold under asking, 33% were sold at asking, and 15% were sold over asking.
Days on Market for Margate, FL
How long does it take to sell a home in Margate, FL?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 25 Days | 61 Days | +145.7% |
Summary: Homes in Margate had an average of 61 days on market in Sep 2024, up by 145.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Margate are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 27 homes were sold in Margate; 48% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.