Is Miramar-Pembroke Pines, 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, Miramar-Pembroke Pines was a Seller's Market.
Key Takeaway
Miramar-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 Miramar-Pembroke Pines, FL
How much do homes in Miramar-Pembroke Pines, FL cost?
Median Sold Price
$491,231
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Miramar-Pembroke Pines have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Miramar-Pembroke Pines was $491,231 in May 2024, up 7.8% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.5K | $178.7K | +3.6% |
| 2 Bedrooms | $268K | $284.9K | +6.3% |
| 3 Bedrooms | $481.5K | $520K | +8.0% |
| 4 Bedrooms | $656.9K | $699.8K | +6.5% |
| 5+ Bedrooms | $862.5K | $945K | +9.6% |
Summary: Miramar-Pembroke Pines housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
| Cooper City | $608K | $675K | +11.0% |
| Miami Gardens | $419.1K | $455.2K | +8.6% |
| Miramar-Pembroke Pines | $455.6K | $491.2K | +7.8% |
| Miramar | $485K | $520K | +7.2% |
| Pembroke Pines | $449.8K | $472.8K | +5.1% |
Housing Supply in Miramar-Pembroke Pines, FL
How many homes are available in Miramar-Pembroke Pines, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,134 | 1,230 | +8.5% |
Summary: The Miramar-Pembroke Pines real estate market had 1,230 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 85 | 102 | +20.0% |
| 2 Bedrooms | 381 | 406 | +6.6% |
| 3 Bedrooms | 338 | 349 | +3.3% |
| 4 Bedrooms | 227 | 255 | +12.3% |
| 5+ Bedrooms | 103 | 118 | +14.6% |
Summary: The Miramar-Pembroke Pines housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 14.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 221 | 191 | -13.6% |
Asking Price vs. Sold Price
120 Homes Were Sold
Under Asking
43 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Miramar-Pembroke Pines, you may be able to get a good deal. 62.8% of homes here sold below asking price last month.
Summary: A total of 191 homes were sold or pending in Miramar-Pembroke Pines in May 2024, down by 13.6% month-over-month. Of the 191 sold homes, 63% were sold under asking, 23% were sold at asking, and 15% were sold over asking.
Days on Market for Miramar-Pembroke Pines, FL
How long does it take to sell a home in Miramar-Pembroke Pines, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 41 Days | +6.1% |
Summary: Homes in Miramar-Pembroke Pines had an average of 41 days on market in May 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
107 Homes Were Sold
Under 30 Days
58 Homes Were Sold
In 30 - 90 Days
26 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Miramar-Pembroke Pines are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 191 homes were sold in Miramar-Pembroke Pines; 56% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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