Market update for single-family homes and condos in Pembroke Pines, FL

The city of Pembroke Pines is highly desirable among families for its top-rated schools, quality of life, an abundance of open green spaces and public parks, and easy access to major highways.

There are currently 260 homes available for sale in Pembroke Pines, ranging from $175,000 for a two bedroom, one bath short sale up to $1,590,000 for a five bedroom, four bath, two-story home with three-car garage.

Of the 260 homes on the market for sale:

  • 18 are two bedroom homes, listed from $175,000 up to $490,000
  • 97 are three bedroom homes, available from $255,000 up to $460,000
  • 99 are four bedroom homes, listed from $285,000 up to $694,990
  • 36 are five bedroom residences, listed from $379,000 up to $1,590,000
  • Eight are six bedroom residences, available from $440,000 up to $950,000
  • Two are seven bedroom residences, listed at $720,000 and $1,499,999

In the preceding 12 months, there were 1,504 sales of single-family homes or 125.33 per month.  With only 260 homes currently on the market, it would take just 2.07 months to sell the entire supply of homes.  This is definitely a market that favors sellers.

In the condominium sector, there are 364 units currently on the market, ranging in price from $55,000 for a one bedroom at Hollybrook up to $539,000 for a three bedroom at CentraFalls.

Of the 364 condominium units for sale:

  • 75 units are one bedroom condos available for sale from $55,000 up to $200,000
  • 228 units are two bedroom condos available for sale from $67,900 up to $282,995
  • 58 units are three bedroom condos listed from $150,000 up to $539,000
  • Three units are four bedroom condos listed from $250,000 up to $345,000

In the previous 12 months, there were 1,451 units sold or 120,92 per month.  At the current inventory level of 364 units, it would take just 3.01 months to sell the entire supply of condos, assuming no other units came on the market.  As you can see, condos are also in short supply and high demand in Pembroke Pines, and sellers have the advantage in both single family homes and condos.

If you are a buyer, working with a real estate professional is critical as they can help you craft an offer that’s compelling enough to stand out from the competition while ensuring you’re not overpaying.

If you’re looking to buy or sell a home in Pembroke Pines, or have some questions about the market, please feel free to contact me for assistance.

Maria Lopez
Kurz Real Estate
(305) 467-0774
MLopez5020@gmail.com

 

 

 

 

 

 

 

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