Is Sunrise, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Sunrise was a Seller's Market.
Key Takeaway
Sunrise is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sunrise, FL
How much do homes in Sunrise, FL cost?
Median Sold Price
$377,500
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sunrise have sold for 12.6% more than they did a year ago.
Summary: The median home sold price in Sunrise was $377,500 in May 2024, up 12.6% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113K | $115K | +1.8% |
| 2 Bedrooms | $208.7K | $227.9K | +9.2% |
| 3 Bedrooms | $450K | $485K | +7.8% |
| 4 Bedrooms | $515K | $532K | +3.3% |
| 5+ Bedrooms | $660K | $640K | -3.0% |
Summary: Sunrise housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 3%.
Median Sold Price Compared To Nearby Cities
| Lauderhill | $175.1K | $220.5K | +25.9% |
| Sunrise | $335.2K | $377.5K | +12.6% |
| Plantation | $432K | $471K | +9.0% |
| Davie | $470.6K | $510.3K | +8.4% |
| Tamarac | $295.5K | $315K | +6.6% |
Housing Supply in Sunrise, FL
How many homes are available in Sunrise, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 490 | 520 | +6.1% |
Summary: The Sunrise real estate market had 520 homes for sale in May 2024, a 6.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 84 | 87 | +3.6% |
| 2 Bedrooms | 224 | 244 | +8.9% |
| 3 Bedrooms | 142 | 152 | +7.0% |
| 4 Bedrooms | 32 | 32 | 0.0% |
| 5+ Bedrooms | 8 | 5 | -37.5% |
Summary: The Sunrise housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 37.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 57 | 62 | +8.8% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sunrise, you may be able to get a good deal. 64.5% of homes here sold below asking price last month.
Summary: A total of 62 homes were sold or pending in Sunrise in May 2024, up by 8.8% month-over-month. Of the 62 sold homes, 65% were sold under asking, 24% were sold at asking, and 11% were sold over asking.
Days on Market for Sunrise, FL
How long does it take to sell a home in Sunrise, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 54 Days | +48.9% |
Summary: Homes in Sunrise had an average of 54 days on market in May 2024, up by 48.9% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sunrise are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 62 homes were sold in Sunrise; 47% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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