Real Estate Prices in Pembroke Pines Florida

Real Estate Prices in Pembroke Pine, Florida have continued to rise. During the past year alone, homes in the community have appreciated by 28.2%. In the same time period, the inventory of homes in the community fell by 1.8%. With the demand for Pembroke Pines homes increasing, the average number of days that homes stay on the market is decreasing.

Home values in Pembroke Pines have gone up 28.2% over the past year

Pembroke Pines has seen a dramatic increase in home values in the past year. The median sold price of a home is $475,009. This value includes the middle price tier. The average home value per square foot has increased by 28.2% in a year. As with most areas, there are many different types of homes, so home values in certain areas may rise or fall more quickly than in other areas.

Pembroke Pines has experienced some of the fastest real estate market growth in the country. Last month, 41% of homes in the city sold over their asking price. The median days on the market were less than ten. And, there are fewer days on the market than last year. The median days on market for a Pembroke Pines home have decreased by almost one week since the start of the year. See it here

Inventory has decreased by 1.8% between July 2022 and August 2022

The number of homes on the market has increased by 16.8% in August, the most since June 2016. However, the number of active listings has decreased by 1.8%, which is still higher than the previous year. In August, a home spends an average of 42 days on the market. This is slightly higher than last year, but still lower than the typical timing.

The recent run of inventory increases was fueled by sellers, but sentiment has shifted significantly. In July, Fannie Mae's Home Purchase Sentiment Index revealed that the number of sellers who said that it was a good time to sell had fallen by a large margin compared to June and last year.

Homes are staying on the market for 0 days on average

Pembroke Pines' housing market is highly competitive. According to U.S. News, homes in Pembroke Pines are staying on the market for an average of 0 days. Top agents have proven track records of selling properties faster than their peers. They can assist buyers and sellers find the home of their dreams. View homepage

The median home value in Pembroke Pines is $442,500. This is higher than the county's median of $277,796. Approximately 68% of Pembroke Pines' homes are owned, while 23% are rented. The remaining 9% of Pembroke Pines homes are vacant. There are a variety of home types available for sale in Pembroke Pines, including single-family homes, condominiums, and townhouses.

Demand is high for homes in Pembroke Pines

In the last month, 41% of homes in Pembroke Pines, Florida, have sold for more than asking price. This indicates that the market for homes in this city is booming. Pembroke Pines is a great place to live if you enjoy the outdoors and cultural arts. It has a variety of amenities such as 28 parks and lush landscaping in its neighborhoods. In addition, residents can easily access local golf courses, shopping malls, and entertainment venues.

The city also has several affordable housing units available, including two-bedroom units. According to the U.S. Bureau of Census, there were no homeless residents in the city in 1990. But in 1995, the Broward County Coalition for the Homeless conducted a survey to identify the homeless population in the area. As a result, the city is now taking steps to improve its services and housing for homeless people.

Buying a home in Pembroke Pines is cheaper than renting

First time homebuyers can get some help with the cost of buying a Pembroke Pines home by utilizing the first-time homebuyer assistance program. This program offers a second loan at 0% interest that converts to a grant if the borrower meets the program requirements. To qualify, the borrower must have a low income and complete a pre-purchase homeownership counseling course within the past 12 months. Furthermore, the borrower's income must not exceed 120% of the median income in the area. Further, the home purchase price must be less than $350,000 for the SHIP program and $260,000 for the HOME program.

Pembroke Pines has a great selection of homes available for rent. These homes range from luxurious apartments to cozy townhomes and spacious houses. Some homes even have views of golf courses. Pembroke Pines is a thriving community that has many activities and programs for residents.

Point of reference 1: Rose G Price Park, 901 NW 208th Ave, Pembroke Pines, FL 33029, 954-435-6599

Point of reference 2: Towngate Park & Pool 901 NW 155th Ave, Pembroke Pines, FL 33028, 954-450-6895

Point of reference 3: SERVPRO of Pembroke Pines 1931 NW 150th Ave Suite 234, Pembroke Pines, FL 33028, 954-998-0600.