Is Margate, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$345,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Margate have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Margate was $345,000 in April 2024, up 7.8% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $107K | $110K | +2.8% |
| 2 Bedrooms | $213.3K | $210K | -1.6% |
| 3 Bedrooms | $445K | $452K | +1.6% |
| 4 Bedrooms | $470K | $540K | +14.9% |
| 5+ Bedrooms | $482K | $457.9K | -5.0% |
Summary: Margate housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes decreased by 5%.
Median Sold Price Compared To Nearby Cities
| Coconut Creek | $310.2K | $340.3K | +9.7% |
| North Lauderdale | $310K | $338K | +9.0% |
| Margate | $320.1K | $345K | +7.8% |
| Coral Springs-Margate | $333.1K | $357.3K | +7.3% |
| Coral Springs | $528.8K | $549.7K | +4.0% |
Housing Supply in Margate, FL
How many homes are available in Margate, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 242 | 263 | +8.7% |
Summary: The Margate real estate market had 263 homes for sale in April 2024, a 8.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 32 | +10.3% |
| 2 Bedrooms | 129 | 144 | +11.6% |
| 3 Bedrooms | 61 | 65 | +6.6% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Margate housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 6.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 41 | +41.4% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Margate, you may be able to get a good deal. 65.9% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Margate in April 2024, up by 41.4% month-over-month. Of the 41 sold homes, 66% were sold under asking, 20% were sold at asking, and 15% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 43 Days | +53.4% |
Summary: Homes in Margate had an average of 43 days on market in Apr 2024, up by 53.4% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Margate are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 41 homes were sold in Margate; 54% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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