Is Pembroke Pines, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Pembroke Pines was a Seller's Market.
Key Takeaway
Pembroke Pines is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pembroke Pines, FL
How much do homes in Pembroke Pines, FL cost?
Median Sold Price
$481,602
$308/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Pembroke Pines have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Pembroke Pines was $481,602 in June 2024, up 6.5% from last year, and the median price per square foot was $308.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $175K | +6.1% |
| 2 Bedrooms | $265K | $275K | +3.8% |
| 3 Bedrooms | $515K | $558.7K | +8.5% |
| 4 Bedrooms | $689.3K | $720K | +4.4% |
| 5+ Bedrooms | $865K | $945K | +9.2% |
Summary: Pembroke Pines housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 9.2%.
Median Sold Price Compared To Nearby Cities
| Southwest Ranches | $1.0M | $1.5M | +37.6% |
| Cooper City | $611K | $678K | +11.0% |
| Miramar | $489.7K | $529.7K | +8.2% |
| Miramar-Pembroke Pines | $459.5K | $496.5K | +8.1% |
| Pembroke Pines | $452.2K | $481.6K | +6.5% |
Housing Supply in Pembroke Pines, FL
How many homes are available in Pembroke Pines, FL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 798 | 830 | +4.0% |
Summary: The Pembroke Pines real estate market had 830 homes for sale in June 2024, a 4.0% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 91 | 98 | +7.7% |
| 2 Bedrooms | 324 | 353 | +9.0% |
| 3 Bedrooms | 206 | 202 | -1.9% |
| 4 Bedrooms | 146 | 145 | -0.7% |
| 5+ Bedrooms | 31 | 32 | +3.2% |
Summary: The Pembroke Pines housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes increased by 3.2%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 153 | 95 | -37.9% |
Asking Price vs. Sold Price
57 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pembroke Pines, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 95 homes were sold or pending in Pembroke Pines in June 2024, down by 37.9% month-over-month. Of the 95 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Pembroke Pines, FL
How long does it take to sell a home in Pembroke Pines, FL?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 32 Days | 41 Days | +26.8% |
Summary: Homes in Pembroke Pines had an average of 41 days on market in Jun 2024, up by 26.8% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pembroke Pines are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 95 homes were sold in Pembroke Pines; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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