Here's what changed this week in Pembroke Pines:

What the median price drop really means: This is a notable $45K drop in one week. This likely reflects a shift in inventory mix (more mid priced homes sold vs. last week's higher priced properties). This isn't necessarily a market wide price crash, but it does signal that homes are taking significantly longer to sell and sellers are adjusting expectations.

After a surprisingly active January start, this past week brought a noticeable cooling in Pembroke Pines.

Fewer new listings. A bump in mortgage rates. And a sharp rise in days on market, nearly double last week's median, are all signaling a shift.

But it's not all bad news, especially if you're a buyer with patience and strategy.

Here's what's really happening and what it means if you're buying or selling in the next 30-60 days.

After weeks of fast moving inventory and competitive bidding, the pace has slowed and that's working in your favor.

New listings dropped slightly to 63 (from 67 last week), but here's the key: homes are sitting longer. The median days on market jumped from 37 to 59, a 59% increase.

And the median price dropped $45K, from $519,763 to $475,000.

Let's be clear: This isn't a market wide crash. It's a shift in the TYPE of inventory selling this week. More homes in the $400K-$500K range closed, which brought the median down.

But here's what matters for you as a buyer:

You have time. Homes aren't flying off the market in 30 days anymore. Sellers are feeling the slower pace, and that creates opportunity.

What this creates for you:

The move for buyers:

If you've been pre-approved and waiting for the right moment, this is your window. Homes are sitting longer, prices have softened, and sellers are more willing to negotiate.

Don't lowball just to lowball. But do make fair, data driven offers based on real comps. Sellers are motivated, but they're not desperate. The sweet spot is pricing just under recent sales, not shooting for the moon.

And if you've been waiting for rates to drop? They didn't. Rates ticked up slightly from 6.18% to 6.27%. That's about $40/month more on a $475K loan, but the lower median price more than offsets that increase.

Watch for:

Here's the reality: Only 63 new listings hit the market this week (down from 67 last week). So technically, your competition dropped.

But here's the catch: Homes are taking 59% longer to sell.

Median days on market jumped from 37 to 59. That means the homes that are selling are sitting longer before they go under contract.

And yet, 41 homes went under contract this week (up from 36 last week). So buyers ARE still active. They're just being more selective and taking their time.

What this means for your strategy:

If you're listing now, you CANNOT afford to overprice. Buyers have more time to shop, compare, and negotiate. If your home is overpriced, it will sit, and the longer it sits, the more negotiating power buyers have.

The homes moving in 59 days are the ones priced right from day one. Not at market. Not above market. At or slightly under.

The move for sellers:

If your home sits longer than 60 days in this market, you're overpriced. Period.

The good news? Serious buyers are still out there. They're pre-approved, motivated, and ready to act but only on homes that are priced right and show well.

Let's talk about what it actually takes to buy at this week's median price of $475,000.

The breakdown:

Monthly Principal & Interest: $2,785

Plus:

All-in monthly cost: $3,581–$4,081

Good news: The $45K drop in median price from last week ($519,763 to $475,000) saves you about $275/month in principal and interest. That's real money.

Bad news: Rates ticked up from 6.18% to 6.27%. That costs you about $40/month on a $451,250 loan.

Combined impact vs. last week: ~$235/month savings (price drop outweighs rate increase)

The math that matters:

To comfortably afford a $475,000 home with a $3,581–$4,081/month payment (using the 28% front end ratio), you need:

Annual household income: $153,000–$175,000

If you're using a more conservative 25% ratio (recommended for long term financial health):

Annual household income: $172,000–$196,000

Here's my take on where we're headed based on this week's activity:

Scenario 1: Market Continues Cooling, Days on Market Keep Rising (Most Likely)

If new listings stay in the 60–70/week range and days on market keep climbing:

What this means: This is a BUYER'S market for the first time in years. Patience pays off, but you still need to act when you find the right home.

If new listings jump above 75/week and days on market climb above 70:

What this means: This becomes a strong buyer's market. Sellers panic, prices soften further, deals take longer.

If the lower median price attracts a wave of new buyers:

What this means: The buyer advantage is short lived. If affordability improves significantly, demand returns quickly.

My bet? We're heading into Scenario 1 for the next 30 days. Inventory will stay steady, buyer demand will remain consistent but selective, and days on market will continue climbing as sellers adjust to the new reality.

But: If inventory surges past 75 new listings/week, we could shift toward Scenario 2 by mid February. Watch the data closely.

Here's what I'm seeing at the micro level this week:

High Activity:

Slower Activity:

What this tells us: The market is bifurcating. Affordable homes ($400K–$500K) are moving steadily. Luxury homes ($800K+) are sitting. The middle ($500K–$700K) is somewhere in between and depends on location, condition, and pricing.

After a surprisingly strong start to January, the Pembroke Pines market is cooling off. Homes are sitting nearly twice as long (59 days vs. 37), and the median price dropped $45K.

But here's the thing: 41 homes still went under contract this week. Buyers are still active, they're just more selective and less rushed.

For buyers, this is the best environment we've seen in years. Take your time. Tour thoroughly. Negotiate confidently.

For sellers, the message is clear: price right from day one, or prepare to sit and watch your leverage disappear.

What are you seeing in your neighborhood? More "For Sale" signs? Homes sitting longer? Hit reply and let me know. I read every response.