Is Margate, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$347,625
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Margate was $347,625 in May 2024, up 6.7% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.5K | $107.7K | -4.2% |
2 Bedrooms | $220K | $212.2K | -3.5% |
3 Bedrooms | $445K | $455K | +2.2% |
4 Bedrooms | $470K | $543.5K | +15.6% |
5+ Bedrooms | $475K | $457.9K | -3.6% |
Summary: Margate housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes decreased by 3.6%.
Median Sold Price Compared To Nearby Cities
North Lauderdale | $307.5K | $345K | +12.2% |
Coral Springs-Margate | $330.3K | $362.5K | +9.8% |
Coconut Creek | $314.5K | $342.3K | +8.8% |
Coral Springs | $518.3K | $555.5K | +7.2% |
Margate | $325.8K | $347.6K | +6.7% |
Housing Supply in Margate, FL
How many homes are available in Margate, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
243 | 247 | +1.6% |
Summary: The Margate real estate market had 247 homes for sale in May 2024, a 1.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 32 | 30 | -6.3% |
2 Bedrooms | 128 | 136 | +6.3% |
3 Bedrooms | 62 | 55 | -11.3% |
4 Bedrooms | 17 | 24 | +41.2% |
5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Margate housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.3%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 11.3%, 4 bedroom homes increased by 41.2%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 33 | -31.3% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Margate in May 2024, down by 31.3% month-over-month. Of the 33 sold homes, 64% were sold under asking, 18% were sold at asking, and 18% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
37 Days | 60 Days | +64.4% |
Summary: Homes in Margate had an average of 60 days on market in May 2024, up by 64.4% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 33 homes were sold in Margate; 33% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.