Is Pompano Beach, 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, Pompano Beach was a Seller's Market.
Key Takeaway
Pompano Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pompano Beach, FL
How much do homes in Pompano Beach, FL cost?
Median Sold Price
$362,250
$308/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pompano Beach have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Pompano Beach was $362,250 in May 2024, up 3.5% from last year, and the median price per square foot was $308.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191.7K | $195K | +1.7% |
| 2 Bedrooms | $300K | $320.6K | +6.9% |
| 3 Bedrooms | $420K | $430K | +2.4% |
| 4 Bedrooms | $491.5K | $575K | +17.0% |
| 5+ Bedrooms | $475K | $637.5K | +34.2% |
Summary: Pompano Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 34.2%.
Median Sold Price Compared To Nearby Cities
| Deerfield Beach | $307K | $325.2K | +5.9% |
| Pompano Beach | $350.1K | $362.2K | +3.5% |
| Lighthouse Point | $700K | $710K | +1.4% |
| Lauderdale-by-the-Sea | $640.6K | $535.1K | -16.5% |
| Hillsboro Beach | $689.3K | $530K | -23.1% |
Housing Supply in Pompano Beach, FL
How many homes are available in Pompano Beach, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 594 | 656 | +10.4% |
Summary: The Pompano Beach real estate market had 656 homes for sale in May 2024, a 10.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 90 | 97 | +7.8% |
| 2 Bedrooms | 235 | 257 | +9.4% |
| 3 Bedrooms | 200 | 224 | +12.0% |
| 4 Bedrooms | 47 | 54 | +14.9% |
| 5+ Bedrooms | 22 | 24 | +9.1% |
Summary: The Pompano Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 86 | 67 | -22.1% |
Asking Price vs. Sold Price
47 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pompano Beach, you may be able to get a good deal. 70.1% of homes here sold below asking price last month.
Summary: A total of 67 homes were sold or pending in Pompano Beach in May 2024, down by 22.1% month-over-month. Of the 67 sold homes, 70% were sold under asking, 21% were sold at asking, and 9% were sold over asking.
Days on Market for Pompano Beach, FL
How long does it take to sell a home in Pompano Beach, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 51 Days | +17.7% |
Summary: Homes in Pompano Beach had an average of 51 days on market in May 2024, up by 17.7% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pompano Beach are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 67 homes were sold in Pompano Beach; 46% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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