Is Bal Harbour, 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, Bal Harbour was a Seller's Market.
Key Takeaway
Bal Harbour is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bal Harbour, FL
How much do homes in Bal Harbour, FL cost?
Median Sold Price
$1,600,000
$980/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bal Harbour have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Bal Harbour was $1,600,000 in May 2024, up 2.3% from last year, and the median price per square foot was $980.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $485K | $590K | +21.6% |
| 2 Bedrooms | $1.1M | $1.4M | +22.9% |
| 3 Bedrooms | $3.2M | $3.6M | +14.1% |
| 4 Bedrooms | $4.0M | $7.4M | +83.3% |
| 5+ Bedrooms | $8.2M | $10.4M | +26.5% |
Summary: Bal Harbour housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.6%, 2 bedroom homes increased by 22.9%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes increased by 26.5%.
Median Sold Price Compared To Nearby Cities
| Surfside | $1.2M | $1.3M | +7.9% |
| Bal Harbour | $1.5M | $1.6M | +2.3% |
Housing Supply in Bal Harbour, FL
How many homes are available in Bal Harbour, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 142 | 151 | +6.3% |
Summary: The Bal Harbour real estate market had 151 homes for sale in May 2024, a 6.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 22 | 22 | 0.0% |
| 2 Bedrooms | 60 | 63 | +5.0% |
| 3 Bedrooms | 39 | 43 | +10.3% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Bal Harbour 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 increased by 5%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Asking Price vs. Sold Price
7 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 Bal Harbour, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Bal Harbour in May 2024, down by 46.7% month-over-month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% were sold over asking.
Days on Market for Bal Harbour, FL
How long does it take to sell a home in Bal Harbour, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 65 Days | 142 Days | +116.9% |
Summary: Homes in Bal Harbour had an average of 142 days on market in May 2024, up by 116.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Bal Harbour are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 8 homes were sold in Bal Harbour; 13% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.