Pompano Beach Real Estate Market Report

Pompano Beach real estate, with its high-profile beaches and vast stretches of endless ocean, continues to attract buyers and investors alike despite an ongoing pandemic. To put things in perspective, the median price for a single-family home in Pompano Beach is up to over $230,775 up 9.7% from last year. Meanwhile, the median price of Pompano Beach condos for sale is now almost $375,000, up by 7% in 2019.

This indicates great investment opportunities for buyers looking to build a thriving Pompano Beach real estate portfolio. But they’ll have to act soon since Pompano Beach Real Estate prices are climbing month-over-month, a trend that may continue well beyond 2020.

According to Zillow, the value of seasonally adjusted Pompano Beach homes for sale is projected to increase by 7.4% between October 2020 and October 2021. This forecast is very optimistic considering the previous forecast predicted a 4.3% increase in Pompano Beach home prices between September 2019 and October 2020.

Investors looking to invest in Pompano Beach Real Estate should note luxurious real estate properties in Pompano Beach are usually relatively unaffected by global trends. The demand for luxury Pompano Beach Real Estate is attractive to high net-worth clients, which explains why Pompano Beach waterfront condos for sale routinely fetch prices averaging in the 7 and 8 figures. The inventory of luxury homes for sale in Pompano Beach is decreasing rapidly compared to 2019 caused by the influx of residents moving from states like New York and California to call Pompano Beach their new home.
The real estate company Redfin has seen a 3 times increase of searches relating to Pompano Beach Real Estate compared to the same time last year.

It is worth pointing out that Pompano Beach Real Estate sales in 2020 have seen slightly lower sales activity compared to the 2019 primarily due to the low housing inventory in Pompano Beach.

The price increase of Pompano Beach Real Estate is indicative of sharply rising demand, which can be attributed to the pent-up demand for real estate during the March-July period during which a large part of the country was in complete lockdown as well as many out of state people moving to Pompano Beach like mentioned above.

Pompano Beach Real Estate Inventory is Tight
In general, we use supply and demand to evaluate the market, but inventory (supply) is frequently the more telling indicator of the two when it comes to predicting trends in real estate.
When the Pompano Beach Real Estate inventory is high, prices tend to flatten or drop out, and there are more desirable investment opportunities for buyers from all spectrums and budgets. However, when the Pompano Beach Real Estate inventory is low, prices tend to hold or increase as investment opportunities for buyers are fewer and far between.
The latter seems to be our current problem in the Pompano Beach Real Estate market as inventory for single-family homes plummet. Next year, however might be different due to high projected foreclosures as property owners fall behind on their mortgage payments. The higher inventory could keep the market moving forward for both buyers and sellers.

Could the Housing Market Decline in 2021?
Many market pundits believe that the housing forecast for Pompano Beach could decline in 2021. This is because supply in the form of foreclosed homes could overwhelm demand by many folds in 2021. As a result, Pompano Beach Real Estate prices could pivot back to pre-pandemic levels and cool off the otherwise hot Pompano Beach real estate market.

Wrapping Up – Why Pompano Beach is Worth Your Investment in 2020-21
No matter what the trends predict – the real estate market in Pompano Beach has never been more attractive especially to families and retirees moving to Pompano Beach who want to enjoy an endless stretch of beautiful Florida beaches.

In addition, Pompano Beach has several features that make the community a great fit for year-round residents. From local public schools with their academic prowess and technological know-how to large franchise stores such as Bealls Outlet and Home Depot – there is a lot to love.

As long as people love to spend time outdoors and exploring new places, the Pompano Beach real estate market can provide great investment opportunities for buyers and sellers alike. Now could be the best time to explore Pompano Beach waterfront homes for sale.

Are you ready to get your piece of Pompano Beach real estate?
Explore all Pompano Beach waterfront condos for sale with our real estate specialists.

Call or Text a Pompano Beach Realtor at 954-505-6000 or send us an email by filling out the form below.

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    New Listing - 4 hours online
    $399,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    940
    SQFT
    1421 S Ocean Blvd #103
    Pompano Beach, FL 33062
    Rio Espana Condo Subdivision
    New Listing - yesterday
    $499,990
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,256
    SQFT
    299 N Riverside Dr #PH04
    Pompano Beach, FL 33062
    Seville House Condo Apts Subdivision
    Open House Sun, May 22, 7 PM UTC
    $389,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,200
    SQFT
    305 N Pompano Beach Boulevard #209
    Pompano Beach, FL 33062
    Jamaica House Condo Apts Subdivision
    New Listing - 2 days online
    $520,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    860
    SQFT
    1481 S Ocean Boulevard #512a
    Lauderdale By The Sea, FL 33062
    Leisure Gardens Condo Subdivision
    New Listing - 5 days online
    $360,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    808
    SQFT
    1439 S Ocean Boulevard #215
    Lauderdale By The Sea, FL 33062
    Whittier Towers Co-Op Subdivision
    New Listing - 5 days online
    $489,000
    Condo For Sale
    Active
    1
    BED
    2
    TOTAL BATHS
    690
    SQFT
    2201 SE 9th St #106
    Pompano Beach, FL 33062
    Santa Barbara Gardens Con Subdivision
    New Listing - a week online
    $275,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,065
    SQFT
    1340 NE 28th Ave #243
    Pompano Beach, FL 33062
    Marine Colony Condo Subdivision
    New Listing - a week online
    $399,900
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    850
    SQFT
    Sea Club #21b
    1221 Hillsboro Mile
    Hillsboro Beach, FL 33062
    New Listing - a week online
    $825,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,350
    SQFT
    1160 Hillsboro Mile #901
    Hillsboro Beach, FL 33062
    Hillsboro Island House Co Subdivision
    New Listing - 2 weeks online
    $345,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    980
    SQFT
    Sea Haven Condo Building B #627 B
    2731 NE 14th Street Causeway
    Pompano Beach, FL 33062
    Open House Sun, May 22, 6 PM UTC
    $319,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    910
    SQFT
    2870 NE 14th Street Causeway #407
    Pompano Beach, FL 33062
    Casa La Quinta Condo Subdivision
    New Listing - 2 weeks online
    $1,200,000
    Condo For Sale
    Active
    2
    BEDS
    3
    TOTAL BATHS
    2,020
    SQFT
    1800 S Ocean Blvd #1511
    Lauderdale By The Sea, FL 33062
    Hampton Beach Club Condo Subdivision
    New Listing - 2 weeks online
    $245,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    980
    SQFT
    Sea Haven #607
    2731 NE 14th Street Causeway
    Pompano Beach, FL 33062
    New Listing - 2 weeks online
    $815,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,360
    SQFT
    1012 N Ocean Boulevard #1601
    Pompano Beach, FL 33062
    Century Plaza Condo Subdivision
    New Listing - 2 weeks online
    $699,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,080
    SQFT
    Ocean Monarch #Ph-3
    133 N Pompano Beach Boulevard
    Pompano Beach, FL 33062
    New Listing - 2 weeks online
    $549,999
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,230
    SQFT
    801 S Federal Hwy #109
    Pompano Beach, FL 33062
    Waterford Point Condo Subdivision
    New Listing - 2 weeks online
    $599,900
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    2900 NE 14th Street Cswy #206
    Pompano Beach, FL 33062
    Voyager Condo Subdivision
    New Listing - 2 weeks online
    $185,500
    Condo For Sale
    Active
    1
    BED
    2
    TOTAL BATHS
    710
    SQFT
    Sea Haven Condominium #731 B
    2731 NE 14th Street Causeway
    Pompano Beach, FL 33062
    New Listing - 2 weeks online
    $250,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    980
    SQFT
    2731 NE 14th Street Cswy #807
    Pompano Beach, FL 33062
    Garden-Aire Village Sea H Subdivision
    New Listing - 3 weeks online
    $1,549,000
    Condo For Sale
    Active
    3
    BEDS
    4
    TOTAL BATHS
    2,427
    SQFT
    1 N Ocean Blvd #207
    Pompano Beach, FL 33062
    Plaza At Oceanside (The) Subdivision