Is Margate, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Margate has remained a Seller's Market.
Key Takeaway
Margate is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Margate, FL cost?
Median Sold Price
$320,000
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Margate have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Margate was $320,000 in August 2023, up 4.9% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $110K | +22.2% |
| 2 Bedrooms | $170K | $220K | +29.4% |
| 3 Bedrooms | $418K | $439.5K | +5.1% |
| 4 Bedrooms | $453K | $492.5K | +8.7% |
| 5+ Bedrooms | $420K | $475K | +13.1% |
Summary: Margate housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 29.4%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Cities
| North Lauderdale | $282K | $320K | +13.5% |
| Coconut Creek | $299.9K | $315.2K | +5.1% |
| Margate | $305.1K | $320K | +4.9% |
| Coral Springs-Margate | $320.6K | $335.8K | +4.7% |
| Coral Springs | $519.5K | $525.6K | +1.2% |
Housing Supply
How many homes are available in Margate, FL?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 171 | 183 | +7.0% |
Summary: The Margate real estate market had 183 homes for sale in August 2023, a 7.0% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 24 | -7.7% |
| 2 Bedrooms | 82 | 86 | +4.9% |
| 3 Bedrooms | 47 | 53 | +12.8% |
| 4 Bedrooms | 14 | 18 | +28.6% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Margate housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 37 | 31 | -16.2% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Margate, you may be able to get a good deal. 48.4% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in Margate in August 2023, down by 16.2% month-over-month. Of the 31 sold homes, 48% were sold under asking, 26% were sold at asking, and 26% were sold over asking.
Days on Market
How long does it take to sell a home in Margate, FL?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 23 Days | 22 Days | -2.0% |
Summary: Homes in Margate had an average of 22 days on market in Aug 2023, down by 2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Margate are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 31 homes were sold in Margate; 74% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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