Is Margate, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Margate is a neutral's market

Buyer's
Market

Difference Since June 2023

At the same time last year, Margate was a Seller's Market.

Key Takeaway

Margate 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 Margate, FL

How much do homes in Margate, FL cost?

Median Sold Price

$342,166

$252/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$12,166(+3.7%)

Key Takeaway

Homes in Margate have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in Margate was $342,166 in June 2024, up 3.7% from last year, and the median price per square foot was $252.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $106K$107.7K
+1.7%
2 $224K$214.5K
-4.2%
3 $440K$459.9K
+4.5%
4 $469K$542K
+15.6%
5+ $475K$457.9K
-3.6%

Summary: Margate housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes decreased by 3.6%.

Median Sold Price Compared To Nearby Cities

Coconut Creek
+12.5%
North Lauderdale
+9.0%
Coral Springs-Margate
+8.5%
Coral Springs
+8.4%
Margate
+3.7%

Housing Supply in Margate, FL

How many homes are available in Margate, FL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
236251+6.4%

Summary: The Margate real estate market had 251 homes for sale in June 2024, a 6.4% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 2928
-3.4%
2 127139
+9.4%
3 5452
-3.7%
4 2429
+20.8%
5+ 23
+50.0%

Summary: The Margate housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.4%, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

May 2024Jun 2024CHANGE
3538+8.6%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Margate, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in Margate in June 2024, up by 8.6% month-over-month. Of the 38 sold homes, 74% were sold under asking, 18% were sold at asking, and 8% 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

Jun 2023Jun 2024CHANGE
40 Days46 Days+17.0%

Summary: Homes in Margate had an average of 46 days on market in Jun 2024, up by 17% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Margate has remained consistent over time.

Summary: During June 2024, 38 homes were sold in Margate; 42% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

Newest Listings in Margate, FL

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