Is Southwest Ranches, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Southwest Ranches has remained a Neutral Market.
Key Takeaway
Southwest Ranches is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Southwest Ranches, FL
How much do homes in Southwest Ranches, FL cost?
Median Sold Price
$1,450,000
$512/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southwest Ranches have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Southwest Ranches was $1,450,000 in May 2024, up 3.7% from last year, and the median price per square foot was $512.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $1.0M | $850K | -19.4% |
| 4 Bedrooms | $1.0M | $1.3M | +25.9% |
| 5+ Bedrooms | $1.8M | $2.6M | +47.2% |
Summary: Southwest Ranches housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 19.4%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes increased by 47.2%.
Median Sold Price Compared To Nearby Cities
| Cooper City | $608K | $675K | +11.0% |
| Miramar-Pembroke Pines | $455.6K | $491.2K | +7.8% |
| Pembroke Pines | $449.8K | $472.8K | +5.1% |
| Southwest Ranches | $1.3M | $1.4M | +3.7% |
| Weston | $725.1K | $718.3K | -0.9% |
Housing Supply in Southwest Ranches, FL
How many homes are available in Southwest Ranches, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 67 | +11.7% |
Summary: The Southwest Ranches real estate market had 67 homes for sale in May 2024, a 11.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 16 | 20 | +25.0% |
| 5+ Bedrooms | 40 | 42 | +5.0% |
Summary: The Southwest Ranches housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Ranches, you may be able to get a good deal. 90% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Southwest Ranches in May 2024, up by 150.0% month-over-month. Of the 10 sold homes, 90% were sold under asking, 0% were sold at asking, and 10% were sold over asking.
Days on Market for Southwest Ranches, FL
How long does it take to sell a home in Southwest Ranches, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 43 Days | +207.1% |
Summary: Homes in Southwest Ranches had an average of 43 days on market in May 2024, up by 207.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Ranches are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Southwest Ranches; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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