Parkland Market Activity Month of November 2023
Sales
The median sold price for single-family homes is under $1 million for the first time since March 2023.
A total of 32 closed sales were recorded for single-family homes in Parkland, Florida. Sold prices ranged from $665,000 (3BR home with new roof and solar panels in Mayfair at Parkland) to $2,000,000 (6BR waterfront home with pool in Parkland Golf and Country Club) with a median of $977,500.The median value is the midpoint where half the homes sold for more, the other half for less.
Pending
"Pending" status means the property is under contract, the contingencies have been satisfied (or waived) and the parties are just waiting to close.
Inventory
Parkland is at 3.3 months' supply of inventory with 106 total active listings for sale between $695,000 and $7,500,000 with a median of $1,199,950. Month-end inventory decreased compared to October's 125.
Sellers of 12 listings were considering back-up offers as of November 30, 2023.
"Active with Contract" status means the property is under contract with contingencies but the seller is keeping the property on the market for back-up offers. The back-up offer will be next in line if the first deal falls through i.e. its contingencies are not removed.
Sales Trend 6 Months vs. Year-Over-Year
The number of homes sold increased 21.34% to 307 while the median sold price decreased 2.61% to $1,120,000. These listings averaged 42 days on the market.
June 2023-November 2023
• Closed Sales: 307 +21.34% YoY from 253
• Median Price: $1,120,000 -2.61% YoY from $1,150,000
• Median Price/ft²: $359.92 +1.86% YoY from $353.34
• Highest Price: $5.5 million -13.39% YoY from $6,350,000
• Lowest Price: $465,000 -22.54% YoY from $600,330
• Average Days on Market: 42 Days +31.25% YoY from 32 days
The median is the preferred metric of home value because it is not sensitive to very high sale prices for a small number of homes that may not be characteristic of the market area.
Data is from the Southeast Florida MLS as of December 15, 2023. Information is deemed reliable but not warranted.
Real Estate Market Parkland FL - December 19, 2023 | We share housing market statistics regarding single-family homes in Parkland Florida to give you an idea of local price trends, activity, and inventory.
