August 18, 2025 Housing Update

A Big Price Jump But What’s Really Driving It?

Mike Ugarte
August 18, 2025 • Estimated Reading Time: 3 minutes

Last week’s housing activity in Pembroke Pines delivered a bit of a head scratcher.

New listings held steady.

Fewer homes went under contract.

Days on market climbed but so did median prices, by a lot.

So what’s actually happening here?

Let’s break it down.

It looks like last week’s rush on more affordable homes cleared out the bottom shelf.

What’s left and what moved are higher end homes that had been sitting for a while.

That’s a classic sign of a market segment shift, not necessarily overall appreciation.

Interest Rate: 6.67% (⬇️ down from 6.73% last week)

So What Does That Actually Look Like?

Let’s do the math:

At the current median price of $569,000, with a 5% down payment ($28,450), your loan would be about $540,550.

At a 6.67% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $3,488.

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.

Third week in a row of softening rates and it’s giving buyers a little breathing room.

But with home prices fluctuating this dramatically, small rate changes aren’t always enough to offset affordability concerns.

💡 Affordability Tip:

Even with rates at 6.67%, 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.