September 2024
Lighthouse Point Market Stats
The real estate market in Lighthouse Point showed notable trends for both single-family homes and townhouses/condos during September 2024. In this post, we’ll break down the latest statistics, highlighting the performance in closed sales, median sales prices, inventory, and more. Understanding these trends can provide valuable insights for buyers, sellers, and investors.
Lighthouse Point Single-Family Homes
In the single-family home segment:
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Closed Sales: There were 14 closed sales, showing no change from a year ago.
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Median Sales Price: The median sales price increased significantly, reaching $1,350,000, up 29% year-over-year.
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Active Inventory: The active inventory saw a sharp rise of 44%, totaling 95 homes on the market.
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Months’ Supply of Inventory: The supply increased to 7.6 months, up from 5.1 months a year ago, suggesting a shift toward a more balanced market.
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New Listings: There were 18 new listings, up 13% compared to the same period last year.
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New Pending Sales: New pending sales dropped by 19%, with 13 properties under contract.
The single-family home market in Lighthouse Point is experiencing rising prices and increased inventory. Despite the dip in new pending sales, the market remains active, with more homes listed and a longer supply, which could offer more options for prospective buyers.
Lighthouse Point Townhouses and Condos
For the townhouse and condo sector:
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Closed Sales: There was a significant increase, with 11 closed sales—up 175% from last year.
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Median Sales Price: The median sales price climbed to $180,000, representing a 12% increase year-over-year.
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Active Inventory: Active inventory reached 68 units, a 45% increase from last year.
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Months’ Supply of Inventory: Months’ supply rose to 7.5 months, up from 5.8 months a year earlier, indicating a more balanced market.
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New Listings: New listings surged by 64%, reaching 18 units.
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New Pending Sales: New pending sales remained stable compared to last year, with 82 units going under contract.
The townhouse/condo market in Lighthouse Point has seen impressive growth in closed sales, with prices and inventory also on the rise. The increase in new listings and months’ supply indicates a broader range of choices for buyers, though consistent demand suggests continued interest in this segment.
Lighthouse Point’s real estate market in September 2024 displayed strong growth, particularly in the townhouse/condo sector. Single-family homes saw rising prices and inventory, while the townhouse/condo segment experienced a significant boost in sales. With increasing inventory and months’ supply, the market appears to be moving toward a more balanced state.
