Is Margate, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Margate was a Seller's Market.
Housing Prices in Margate, FL
How much do homes in Margate, FL cost?
Median Sold Price
$344,000
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Margate was $344,000 in March 2024, up 6.3% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $113.7K | $112.2K | -1.3% |
2 Bedrooms | $220K | $212.2K | -3.5% |
3 Bedrooms | $439.5K | $456.5K | +3.9% |
4 Bedrooms | $492.5K | $530K | +7.6% |
5+ Bedrooms | $482K | $457.9K | -5.0% |
Summary: Margate housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes decreased by 5%.
Median Sold Price Compared To Nearby Cities
North Lauderdale | $300K | $338K | +12.7% |
Coral Springs-Margate | $332.7K | $356.2K | +7.1% |
Coconut Creek | $310.2K | $330K | +6.4% |
Margate | $323.6K | $344K | +6.3% |
Coral Springs | $528.3K | $549.8K | +4.1% |
Housing Supply in Margate, FL
How many homes are available in Margate, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
221 | 247 | +11.8% |
Summary: The Margate real estate market had 247 homes for sale in March 2024, a 11.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 31 | 30 | -3.2% |
2 Bedrooms | 110 | 132 | +20.0% |
3 Bedrooms | 56 | 60 | +7.1% |
4 Bedrooms | 19 | 18 | -5.3% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Margate housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
34 | 24 | -29.4% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Margate in March 2024, down by 29.4% month-over-month. Of the 24 sold homes, 71% were sold under asking, 17% were sold at asking, and 13% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
48 Days | 39 Days | -17.9% |
Summary: Homes in Margate had an average of 39 days on market in Mar 2024, down by 17.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 24 homes were sold in Margate; 54% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.