Is Margate, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$341,650
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Margate was $341,650 in February 2024, up 6.1% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $108K | -6.1% |
2 Bedrooms | $199.9K | $215K | +7.5% |
3 Bedrooms | $435K | $456K | +4.8% |
4 Bedrooms | $490K | $529.4K | +8.1% |
5+ Bedrooms | $489K | $475K | -2.9% |
Summary: Margate housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.1%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
North Lauderdale | $299.6K | $330K | +10.1% |
Coconut Creek | $305K | $328K | +7.5% |
Coral Springs-Margate | $330K | $352.4K | +6.8% |
Margate | $322K | $341.6K | +6.1% |
Coral Springs | $530K | $544.7K | +2.8% |
Housing Supply in Margate, FL
How many homes are available in Margate, FL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
198 | 226 | +14.1% |
Summary: The Margate real estate market had 226 homes for sale in February 2024, a 14.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 33 | 32 | -3.0% |
2 Bedrooms | 100 | 117 | +17.0% |
3 Bedrooms | 47 | 55 | +17.0% |
4 Bedrooms | 16 | 17 | +6.3% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Margate housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
25 | 27 | +8.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Margate in February 2024, up by 8.0% month-over-month. Of the 27 sold homes, 78% were sold under asking, 15% were sold at asking, and 7% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
28 Days | 47 Days | +71.1% |
Summary: Homes in Margate had an average of 47 days on market in Feb 2024, up by 71.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 27 homes were sold in Margate; 41% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.