Listings Surge, Prices Spike

The Market is Heating Up

Last week we saw a big bump in new listings, and this week, that trend kept rolling.

With 62 new homes hitting the market in Pembroke Pines, inventory is building fast.

But while sellers are stepping up, buyers seem a little more hesitant as contracts dipped and prices shot up.

Let’s break down what’s going on.

Market Snapshot

• New Homes Listed in last 7 days: 62 (⬆️ up from 48 last week)

• New Homes Under Contract in last 7 days: 34 (⬇️ down from 43 last week)

• Median Days on Market: 49 days (⬆️ slightly faster than 53 last week)

• Median Price: $549,000 (⬆️ a sharp jump from $395,000)

What the Numbers Mean

• New Listings: We're seeing strong seller confidence, likely driven by recent pricing trends and a desire to list before the summer slows down.

• Homes Under Contract: After a big spike last week, the dip suggests buyer fatigue or hesitancy in the face of rising prices.

• Median Days on Market: Homes are still moving at a steady pace, but not lightning fast. Buyers are taking their time to choose carefully.

• Median Price: This dramatic price increase points to a shift in inventory where more higher priced homes are being listed and selling, which may be skewing the median upward.

We’re seeing a classic push-pull: inventory is growing, but affordability is tightening.

That $154K price jump in one week suggests more high end homes are entering the mix, possibly pricing out some buyers.

The decline in contracts could be a sign that the current price levels are starting to stretch buyer budgets.

Mortgage Snapshot

Interest Rate: 6.90% (⬇️ slightly down from 6.95% last week)

So what does that actually look like in the real world?

Let’s do the math:

At the current median price of $549,000, with a 5% down payment ($27,450), your loan would be about $521,550.

At a 6.90% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $3,437.

That’s before taxes, insurance, and HOA fees, but it gives you a realistic sense of the monthly commitment in today's market.

What this Means

A small dip in mortgage rates is good news, but not quite enough to offset that price surge.

Buyers may be waiting to see if rates drop more or if the inventory wave brings some better deals.

Even a tenth of a point can shift monthly payments significantly, so stay alert if you're shopping and be ready to move fast on anything priced right.

More homes on the market means more options but also more competition on price.

Sellers: the market's slightly leaning in your favor, especially at the higher end.

💡 Affordability Tip:

Even with rates at 6.90%, 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.