Home sales dip with tight supply in Pines as Broward sales climb, new data shows
The Pembroke Pines home sale market dropped slightly last month while demand continues to outpace supply in the rest of Broward.
The Broward County market overall saw a 0.9% rise in home sale transactions in May, the third straight month of growth, while inventory remains crunched, according to the MIAMI Association of Realtors.
Single-family home sales in Broward increased 3.24% year-over-year in May 2026, while condo sales decreased 1.48% year-over-year.
“Sales of Broward properties priced at $1 million and above climbed 17.6% from a year earlier,” according to analysts. “At the more accessible end of the market, condo sales in the $400,000 to $500,000 price range surged 12% year-over-year.”
The “phenomenal” rise in million-dollar properties could make this the strongest year since 2021, MIAMI Realtors + RWorld Chief Economist Gay Cororaton said.
Meanwhile, Broward is facing falling inventory, with single-family home supply dropping 22% year-over-year county-wide and 29% in Pembroke Pines.
Pines also only has a three-month supply of inventory in a strong seller’s market, making it one of the most competitive in Broward, data shows.
But the number of closed single-family homes sales dipped in May year-over-year, falling 12% with 80 transactions. Prices are up 3% from the same time last year.
Buyers in Pembroke Pines may find themselves paying more for homes than they would in other parts of Broward, with a median sale price of $688,000 compared to $630,000 countywide.
It’s also a notable increase from last month, when sale prices were $624,000 in Pembroke Pines, although analysts compare prices year-over-year rather than month-to-month to account for seasonal fluctuations.
On the other hand, sales the condo and townhome market in the city were up 4% with 81 transactions, partnered with an 18% drop in prices compared to last year. Pembroke Pines offers better prices than other cities in that category as well, with a median of $235,000 vs. $275,000 in the rest of Broward.
“The continued growth of South Florida real estate is driven in large part by the connectivity between our counties,” Broward-MIAMI Realtors President Sophia Allen said. “Brightline and Tri-Rail are strengthening regional mobility, giving residents greater flexibility in where they live and work. At the same time, the significant wealth migration into our region continues to fuel demand.”