Is Pembroke Pines, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pembroke Pines is a neutral's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Pembroke Pines 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 Pembroke Pines, FL

How much do homes in Pembroke Pines, FL cost?

Median Sold Price

$472,898

$306/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$23,041(+5.1%)

Key Takeaway

Homes in Pembroke Pines have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in Pembroke Pines was $472,898 in May 2024, up 5.1% from last year, and the median price per square foot was $306.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $165K$175K
+6.1%
2 $260.5K$274.5K
+5.4%
3 $515K$550K
+6.8%
4 $687.6K$725K
+5.4%
5+ $877.5K$932.5K
+6.3%

Summary: Pembroke Pines housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 6.3%.

Median Sold Price Compared To Nearby Cities

Cooper City
+11.0%
Miramar-Pembroke Pines
+7.8%
Miramar
+7.2%
Pembroke Pines
+5.1%
Southwest Ranches
+3.7%

Housing Supply in Pembroke Pines, FL

How many homes are available in Pembroke Pines, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
763826+8.3%

Summary: The Pembroke Pines real estate market had 826 homes for sale in May 2024, a 8.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 7794
+22.1%
2 316340
+7.6%
3 205210
+2.4%
4 134146
+9.0%
5+ 3136
+16.1%

Summary: The Pembroke Pines housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 16.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
139132-5.0%

Asking Price vs. Sold Price

81 Homes Were Sold
Under Asking

29 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pembroke Pines, you may be able to get a good deal. 61.4% of homes here sold below asking price last month.

Summary: A total of 132 homes were sold or pending in Pembroke Pines in May 2024, down by 5.0% month-over-month. Of the 132 sold homes, 61% were sold under asking, 22% were sold at asking, and 17% 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

May 2023May 2024CHANGE
37 Days41 Days+11.1%

Summary: Homes in Pembroke Pines had an average of 41 days on market in May 2024, up by 11.1% compared to last year.

Breakdown of Home Sale Times

71 Homes Were Sold
Under 30 Days

42 Homes Were Sold
In 30 - 90 Days

19 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Pembroke Pines are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 132 homes were sold in Pembroke Pines; 54% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 14% 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 17 Days Ago

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