August 11, 2025 Housing Update

Homes are moving faster but the sharp price drop may not mean what you think

Author

Mike Ugarte
August 11, 2025 • Estimated Reading Time: 3 minutes

Cooler Price, Hotter Pace

Pembroke Pines buyers just saw the median price drop by more than $106K in a single week but don’t assume that means every home got cheaper.

The real story is about which homes are selling, not a sudden collapse in values.

And they’re moving faster, too.

Market Snapshot

  • New Homes Listed in last 7 days: 49 (⬇️ down from 54)

  • New Homes Under Contract in last 7 days: 41 (↔️ no change from 41)

  • Median Days on Market: 41 (⬇️ down from 54 days)

  • Median Price: $418,999 (⬇️ down from $525,000)

What the Numbers Mean

Median price is the middle point of homes selling and not a direct “price tag” on every house in town.

A big one week drop like this usually means:

  • More entry level and mid range homes are closing or going under contract this week.

  • Higher-priced listings are lingering, keeping them out of this week’s snapshot

    .

  • Sub-$450K is where the action is right now.

So, it’s not that every home lost $106K in value overnight — it’s that buyers are snapping up the affordable ones first.

Mortgage Snapshot

Interest Rate: 6.73% (⬇️ slightly down from 6.81% last week)

So What Does That Actually Look Like? 

Let’s do the math:

At the current median price of $418,999, with a 5% down payment ($20,950), your loan would be about $398,049.

At a 6.73% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $2,573.

That’s before taxes, insurance, and HOA fees, but it gives you a clear picture of what monthly costs look like in today’s market.

What It Means For You

That’s about $675/month less than last week’s median priced home.

That kind of affordability shift can open the door for first-time buyers, those with tighter budgets, or anyone who was previously priced out.

It’s why sub $450K homes are flying; lower payments are widening the buyer pool and driving competition.

💡 Affordability Tip:

Even with rates at 6.73%, a small rate drop can save you hundreds per month.

Many lenders now offer rate buy downs or credits. Don’t skip the conversation.

👉 Buyer Tip: Get pre-approved before you shop. Knowing your monthly budget makes it easier to jump when the right home hits the market.

Ready to run the numbers on you ideal home?

Schedule a quick call with me here and I’ll connect you with a local lender who can show you exactly what’s possible in today’s market.