Pompano Beach August 2023 Market Report

Statistics for the real estate market in Pompano Beach, Florida for the month of August 2023:

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Hello, Pompano Beach. Welcome to this month’s real estate market report.

So let's take a closer look at the numbers. Currently there is a 3.17 month supply of inventory in Pompano Beach. What does this mean? It means that if no additional homes were listed, all listings would be sold in 3.1 seven months.

Well, it also signifies that neither buyers nor sellers have a significant advantage. However, it's important to note that over the last 12 months, the months supply of inventory has seen a significant increase of 48.83%. This suggests a growing availability of properties in the area.

Now let's talk about the list of sold price percentage in Pompano Beach properties are selling at an impressive 96.2% of their listing price. This indicates a healthy market where sellers are receiving offers close to their asking prices. So if you're a seller, this is excellent news for you moving on.

The median days on market in Pompano Beach is just 32 days. That's right, properties are selling relatively quickly in this area, reflecting the strong demand and competitive nature of the market. If you're a seller looking to make a move, this means that you can expect a swift sale if the property is priced right.

 Finally, let's discuss the median sold price in Pompano Beach. The median sold price currently stands at $356,000. This figure reflects the average price at which properties are being sold in the area. This represents a decrease of 1.1% month over month. It's important to keep in mind that this is just a median and individual property values may vary depending on various factors.

These market trends provide valuable insights into the current real estate landscape in Pompano Beach with a balanced market, high list to sold price percentage, quick sales and a strong median sold price. The Pompano Beach real estate market remains strong.

See attched file to check the whole month of August Market Reort for Pompano Beach: Pompano_Beach_August_2023_Market_Report.pdf