November 2024 Pompano Beach Real Estate Market Report
The Pompano Beach Real Estate market in November 2024 reflects notable trends across both Pompano Beach Single-Family homes and Pompano Beach Condos. Here’s an overview of key insights:
Pompano Beach Single-Family Homes Market Overview
- Closed Sales in Pompano Beach: Down 8.1% compared to November 2023, with 34 sales reported this month. Year-to-date sales also dipped by 3.1%.
- Median Sales Price in Pompano Beach: Increased significantly by 31.1%, reaching $590,000.
- Average Sales Price in Pompano Beach: Rose by 10.3% to $705,792.
- Dollar Volume in Pompano Beach: Marginal growth of 1.4%, totaling $23,996,915.
- Inventory & Listings in Pompano Beach: Inventory increased by 25.6%, and new listings remained unchanged at 57 homes.
- Months Supply of Inventory in Pompano Beach: Increased by 26.2%, reaching 5.3 months, signaling a shift towards a more balanced market.
Pompano Beach Townhouse/Condo Market Overview
- Closed Sales in Pompano Beach: Experienced a sharp decline of 25.9%, with only 63 sales in November.
- Median Sales Price in Pompano Beach: Dropped by 10.8% to $290,000.
- Average Sales Price in Pompano Beach: Fell by 20.3% to $369,307.
- Dollar Volume in Pompano Beach: Declined significantly by 40.9%, totaling $23,266,357.
- Inventory & Listings in Pompano Beach: Inventory surged by 72.4%, and new listings increased by 48.9%.
- Months Supply of Inventory in Pompano Beach: Almost doubled, rising by 87.2% to 8.8 months, indicating a buyer’s market.
Pompano Beach Realty Estate Year-to-Date Trends
- Single-Family Homes: Despite fluctuations in sales and price metrics, the market remains resilient with steady dollar volume and moderate growth in average sales prices.
- Townhouse/Condo: The sector faces challenges with declining sales and lower prices but shows promising growth in inventory and listings.
Pompano Beach Market Insights
The sharp increase of homes for sale in Pompano Beach, especially in the townhouse/condo segment, suggests increased opportunities for buyers searching for Pompano Beach Real Estate. Meanwhile, rising median and average sales prices for single-family homes indicate continued demand for premium properties.
Whether you’re buying, selling, or investing in Pompano Beach, staying informed about these trends is essential for making strategic decisions.
Looking to navigate the Pompano Beach real estate market?
Contact Pompano Beach Realty at 954-505-6000 for expert Real Estate guidance and assistance today!
Search the Pompano Beach MLS
Leave A Comment
You must be logged in to post a comment.