July 29, 2025 Housing Update

What’s Going On

After a sleepy stretch, Pembroke Pines housing just got a jolt as more homes hit the market and more buyers jumped in.

But here’s the kicker: the median home price spiked by over $100K week over week.

That doesn’t necessarily mean prices are rising across the board, it more likely reflects a shift in what kinds of homes are selling.

And this week, more higher end properties closed.

Market Snapshot

• New Homes Listed in last 7 days: 58 (⬆️ up from 56)

• New Homes Under Contract in last 7 days: 31 (⬆️ up from 22)

• Median Days on Market: 34 (⬇️ down from 51 days)

• Median Price: $539,999 (⬆️ up from $429,499)

What the Numbers Mean

Listings are ticking up: more sellers are testing the waters, and the market is feeling more active.

Homes are going under contract faster: a sign that buyers are ready and willing to jump on the right property.

That big median price jump? Likely more about which homes sold than values soaring, think bigger homes, newer builds, or better locations closing this week.

Mortgage Snapshot

Interest Rate: 6.83% (⬇️ slightly down from 6.87% last week)

So What Does That Actually Look Like? 

Let’s do the math:

At the current median price of $539,999, with a 5% down payment ($27,000), your loan would be about $512,000.

At a 6.83% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $3,357.

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

Even with a slight dip in rates (6.83% from 6.87%), your payment still jumped thanks to that higher median price.

For buyers, this is a reminder: it’s not just about rates. Price swings week to week can change your affordability in real dollars.

If you’re house hunting, talk to your lender about how pricing shifts like this impact your budget range as a $100K jump adds nearly $600/month to the monthly payment.

💡 Affordability Tip:

Even with rates at 6.83%, 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.