Is Pembroke Pines, 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, 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
$460,785
$299/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Pembroke Pines have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Pembroke Pines was $460,785 in March 2024, up 4.3% from last year, and the median price per square foot was $299.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $175K | +9.4% |
| 2 Bedrooms | $260K | $270K | +3.8% |
| 3 Bedrooms | $502K | $545K | +8.6% |
| 4 Bedrooms | $681.7K | $715K | +4.9% |
| 5+ Bedrooms | $869K | $918.5K | +5.7% |
Summary: Pembroke Pines housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Cities
| Cooper City | $584.3K | $643K | +10.0% |
| Miramar | $475.8K | $512.9K | +7.8% |
| Miramar-Pembroke Pines | $449.9K | $474.6K | +5.5% |
| Pembroke Pines | $441.6K | $460.7K | +4.3% |
| Southwest Ranches | $1.4M | $1.3M | -6.7% |
Housing Supply in Pembroke Pines, FL
How many homes are available in Pembroke Pines, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 668 | 759 | +13.6% |
Summary: The Pembroke Pines real estate market had 759 homes for sale in March 2024, a 13.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 63 | 76 | +20.6% |
| 2 Bedrooms | 294 | 329 | +11.9% |
| 3 Bedrooms | 180 | 209 | +16.1% |
| 4 Bedrooms | 104 | 117 | +12.5% |
| 5+ Bedrooms | 27 | 28 | +3.7% |
Summary: The Pembroke Pines housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20.6%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 3.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 103 | 126 | +22.3% |
Asking Price vs. Sold Price
91 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
14 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. 72.2% of homes here sold below asking price last month.
Summary: A total of 126 homes were sold or pending in Pembroke Pines in March 2024, up by 22.3% month-over-month. Of the 126 sold homes, 72% were sold under asking, 17% were sold at asking, and 11% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 38 Days | -18.2% |
Summary: Homes in Pembroke Pines had an average of 38 days on market in Mar 2024, down by 18.2% compared to last year.
Breakdown of Home Sale Times
75 Homes Were Sold
Under 30 Days
35 Homes Were Sold
In 30 - 90 Days
16 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 March 2024, 126 homes were sold in Pembroke Pines; 60% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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