Broward Real Estate Market Update October 2021 vs 2020

Real Estate Market Snapshot October 2021

Broward County is experiencing a real estate boom.

Look at the numbers on the real estate snapshot to the right.

Median Sales Prices rose by 17.8% within a year, probably due to the continued high demand and almost 33% less active single family homes for sale in the county compared to 2020.

The condo market saw an increase of the median sales price of almost 21% with almost 57% less condos for sale in 2021 compared to the prior year.

With a historically low inventory and the high buyer demand, prices will most likely continue to increase.

Pompano Beach Real Estate makes up a part of the Broward Real Estate market and with the city of Pompano Beach pouring in Millions of Dollars to revitalize it, Pompano Beach is an excellent choice for the home buyer.

Call one of our friendly Pompano Beach Realtors at 954-505-6000 to start your search.

 

Broward County Real Estate Snapshot 2021 – 2020

Pompano Beach market report 2021 - 2020

Pompano Beach Waterfront Homes For Sale

New Listing - 16 hours online
$199,900
Condo For Sale
Active
2
BEDS
1
TOTAL BATH
903
SQFT
1247 SW 46th Ave #1301
Pompano Beach, FL 33069
Royal Poinciana Condo Subdivision
New Listing - 7 days online
$1,850,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
1,946
SQFT
720 SE 7th Ave
Pompano Beach, FL 33060
Cypress Lake Sec 5 Subdivision
New Listing - 2 weeks online
$1,725,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
1,769
SQFT
2241 SE 10th Ct
Pompano Beach, FL 33062
Pompano Isles Sec B Subdivision
New Listing - 2 weeks online
$749,000
Condo For Sale
Active
2
BEDS
3
TOTAL BATHS
1,970
SQFT
1390 S Ocean Boulevard #5d
Pompano Beach, FL 33062
Wittington Condo Subdivision
New Listing - 3 weeks online
$255,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
1,050
SQFT
2209 S Cypress Bend Dr #302
Pompano Beach, FL 33069
Cypress Bend 3 Condo Subdivision
New Listing - 4 weeks online
$265,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
1,216
SQFT
address withheld
Pompano Beach, FL 33069
Palm-Aire C C Apts 117 Co Subdivision
New Listing - 4 weeks online
$4,995,000
Single Family Home For Sale
Active
6
BEDS
6
TOTAL BATHS
600 Circle Dr
Pompano Beach, FL 33062
Manzano Mar Subdivision
New Listing - 4 weeks online
$625,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
975
SQFT
1610 N Ocean Blvd #1205
Pompano Beach, FL 33062
Tiffany Gardens East Subdivision
$225,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
980
SQFT
2731 NE 14th Street Cswy #928
Pompano Beach, FL 33062
Garden-Aire Village Sea H Subdivision
Price Change - a week ago
$1,800,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
2,083
SQFT
2731 NE 6th Street
Pompano Beach, FL 33062
Harbor Village Subdivision
$400,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
1,069
SQFT
1505 N Riverside Dr. #1203
Pompano Beach, FL 33062
Intracoastal Tower Subdivision
$1,450,000
Single Family Home For Sale
Active
2
BEDS
2
TOTAL BATHS
1,762
SQFT
2651 NE 3rd Street
Pompano Beach, FL 33062
Harbor Village Sec B Subdivision
$2,599,000
Single Family Home For Sale
Active
3
BEDS
4
TOTAL BATHS
2,839
SQFT
2461 SE 10th St
Pompano Beach, FL 33062
Pompano Isles Sec B Subdivision
$799,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
1,781
SQFT
1340 S Ocean Blvd #807
Pompano Beach, FL 33062
Claridge Condo Subdivision
$5,499,999
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
4,761
SQFT
2340 SE 8th Street
Pompano Beach, FL 33062
Santa Barbara Shores Subdivision
$675,000
Condo For Sale
Active
3
BEDS
3
TOTAL BATHS
1,700
SQFT
111 N Pompano Beach Blvd #507
Pompano Beach, FL 33062
Sea Monarch Subdivision
$183,900
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
980
SQFT
4441 W Mcnab Rd #28
Pompano Beach, FL 33069
Palm Aire Gardens Condo Subdivision
$3,488,849
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
6,870
SQFT
560 SE 12th St
Pompano Beach, FL 33060
High Ridge Estates Add Subdivision
$5,640,663
Commercial For Sale
Active
14,137
SQFT
1 N Ocean Blvd #101, 103, 104, & 105
Pompano Beach, FL 33062
 
$368,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
1,200
SQFT
Parliament House #1023
405 N Ocean Boulevard
Pompano Beach, FL 33062
Price Change - 3 weeks ago
$1,800,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
1,945
SQFT
2801 NE 23rd Ct
Pompano Beach, FL 33062
Hillsboro Harbor Unit A Subdivision
$1,850,000
Single Family Home For Sale
Active
4
BEDS
5
TOTAL BATHS
3,094
SQFT
311 SE 13th Ave
Pompano Beach, FL 33060
Snug Harbor Sec 2 Subdivision
$124,900
Co-Op For Sale
Active
1
BED
1
TOTAL BATH
550
SQFT
331 E Mcnab Rd #116
Pompano Beach, FL 33060
Waterview Lodge 2 Co-Op Subdivision
Price Change - 3 weeks ago
$2,100,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
1,712
SQFT
351 SE 15th Ave
Pompano Beach, FL 33060
Snug Harbor Sec 1 Subdivision
Price Change - 6 days ago
$1,170,000
Single Family Home For Sale
Active
2
BEDS
2
TOTAL BATHS
1,590
SQFT
460 SE 16th Avenue
Pompano Beach, FL 33060
Snug Harbor Sec 4 Subdivision
$5,300,000
Condo For Sale
Active
5
BEDS
6
TOTAL BATHS
4,290
SQFT
1116 N Ocean Blvd #UPH02
Pompano Beach, FL 33062
Pompano By The Sea Resub Subdivision
$5,500,000
Single Family Home For Sale
Active
6
BEDS
6
TOTAL BATHS
4,960
SQFT
2726 SE 11 Street
Pompano Beach, FL 33062
Pompano Isles Sec B Subdivision
$3,000,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,470
SQFT
512 SE 28th Avenue
Pompano Beach, FL 33062
Cypress Point Santa Barbara Estates Subdivision
$6,190,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
5,200
SQFT
2782 NE 3rd Street
Pompano Beach, FL 33062
Harbor Village Sec B Subdivision

Pompano Beach Real Estate Market Report – 2020 Update

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.

Please fill out this form and one of our Pompano Beach Realtors will get in touch with you.

    New Listing - 3 days online
    $3,295,000
    Condo For Sale
    Active
    3
    BEDS
    4
    TOTAL BATHS
    3,724
    SQFT
    1460 S Ocean Blvd #1101
    Lauderdale By The Sea, FL 33062
    Europa By The Sea Subdivision
    New Listing - 5 days online
    $469,900
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,200
    SQFT
    1149 Hillsboro Mile #908
    Hillsboro Beach, FL 33062
    Opal Towers Condo Subdivision
    New Listing - 6 days online
    $949,500
    Condo For Sale
    Active
    2
    BEDS
    3
    TOTAL BATHS
    2,090
    SQFT
    1800 S Ocean Blvd #412
    Lauderdale By The Sea, FL 33062
    Hampton Beach Club Condo Subdivision
    New Listing - 2 weeks online
    $299,000
    Co-Op For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,002
    SQFT
    1850 S Ocean Blvd #108
    Lauderdale By The Sea, FL 33062
    Crane Crest Apts Co-Op Subdivision
    New Listing - 2 weeks online
    $749,000
    Condo For Sale
    Active
    2
    BEDS
    3
    TOTAL BATHS
    1,970
    SQFT
    1390 S Ocean Boulevard #5d
    Pompano Beach, FL 33062
    Wittington Condo Subdivision
    New Listing - 4 weeks online
    $625,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    975
    SQFT
    1610 N Ocean Blvd #1205
    Pompano Beach, FL 33062
    Tiffany Gardens East Subdivision
    $225,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    980
    SQFT
    2731 NE 14th Street Cswy #928
    Pompano Beach, FL 33062
    Garden-Aire Village Sea H Subdivision
    $400,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,069
    SQFT
    1505 N Riverside Dr. #1203
    Pompano Beach, FL 33062
    Intracoastal Tower Subdivision
    $1,674,000
    Condo For Sale
    Active
    3
    BEDS
    3
    TOTAL BATHS
    2,300
    SQFT
    1800 S Ocean Blvd #1505 Penthouse
    Lauderdale By The Sea, FL 33062
    Hampton Beach Club Condo Subdivision
    $799,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,781
    SQFT
    1340 S Ocean Blvd #807
    Pompano Beach, FL 33062
    Claridge Condo Subdivision
    $675,000
    Condo For Sale
    Active
    3
    BEDS
    3
    TOTAL BATHS
    1,700
    SQFT
    111 N Pompano Beach Blvd #507
    Pompano Beach, FL 33062
    Sea Monarch Subdivision
    $368,000
    Condo For Sale
    Active
    2
    BEDS
    2
    TOTAL BATHS
    1,200
    SQFT
    Parliament House #1023
    405 N Ocean Boulevard
    Pompano Beach, FL 33062
    $2,350,000
    Condo For Sale
    Active
    3
    BEDS
    5
    TOTAL BATHS
    3,562
    SQFT
    Ocean Grande #405
    1063 Hillsboro Mile
    Hillsboro Beach, FL 33062
    $1,300,000
    Condo For Sale
    Active
    3
    BEDS
    3
    TOTAL BATHS
    2,120
    SQFT
    1228 Hillsboro Mile #106
    Hillsboro Beach, FL 33062
    Mediterranea Condo Subdivision
    $5,300,000
    Condo For Sale
    Active
    5
    BEDS
    6
    TOTAL BATHS
    4,290
    SQFT
    1116 N Ocean Blvd #UPH02
    Pompano Beach, FL 33062
    Pompano By The Sea Resub Subdivision
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