Pines home sales outpace Broward market as inventory falls, April data shows
The Pembroke Pines home market posted solid gains in April as the rest of the Broward residential real estate sector grew for the second month in a row, new data shows.
Sales of single-family homes in Broward County were up 7.6% year-over-year from last April, while condo and townhouse sales, lumped into one category, were up 1.8%, according to the MIAMI Association of Realtors.
Supply is also constrained across the county, with inventory falling 16.2% in April and opening up the risk of higher prices as a result. But so far, those prices have yet to materialize.
Single-family home costs dipped in Broward County as a whole and in Pembroke Pines, which saw an 8% decrease in prices compared to April 2025, data shows. Pines set itself apart from the rest of the county in other ways, outpacing the moderate gains across Broward with its own 17% increase in sales of single-family homes year-over-year.
The Broward home market had been cooling off for a few months before notching a 1.4% rise in sales in March. In April, the gap widened even more, with a 4.7% increase in total transactions year-over-year.
Pembroke Pines posted the third most home sales in Broward last month amid the supply and demand issue South Florida is facing. Active listings plummeted 30% year-over-year in Pines, while the city had a three-month supply of homes if demand were to stay the same, one of the lowest inventories in Broward.
Meanwhile, home prices were on par with the rest of the county. The median cost for a home in Pembroke Pines was $624,000 in April across 88 sales, just $4,000 over the median in Broward at large.
Unfortunately on the condo and townhome side, a 17% decrease in sales partly offsets the gains made in single-family home transactions. New listings fell 28%, but the city remains more affordable than the rest of Broward for condos and townhomes, with a median sale price of $241,000 in Pines vs. $258,000 in the county.
Analysts with the realtor association continue to reiterate that they expect the South Florida market to be “resilient” even amid economic uncertainty brought by the war in Iran and rising mortgage rates.
“South Florida continues to attract out-of-state movers, second home buyers or corporations who are seeing worsening tax conditions in their states,” MIAMI Realtors Chief Economist Gay Cororaton said.