Is Hobe Sound, 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, Hobe Sound has remained a Seller's Market.
Key Takeaway
Hobe Sound is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hobe Sound, FL
How much do homes in Hobe Sound, FL cost?
Median Sold Price
$529,000
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hobe Sound have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Hobe Sound was $529,000 in May 2024, up 1.8% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $443K | $200K | -54.9% |
| 2 Bedrooms | $316K | $370K | +17.1% |
| 3 Bedrooms | $580K | $600.5K | +3.5% |
| 4 Bedrooms | $782.5K | $965K | +23.3% |
| 5+ Bedrooms | $3.6M | $1.9M | -46.3% |
Summary: Hobe Sound housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.9%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes decreased by 46.3%.
Median Sold Price Compared To Nearby Cities
| Indiantown | $580K | $705K | +21.6% |
| Port Salerno-Hobe Sound | $448.6K | $502.6K | +12.0% |
| Hobe Sound | $519.6K | $529K | +1.8% |
| Jupiter Island | $8.9M | $8.1M | -8.7% |
Housing Supply in Hobe Sound, FL
How many homes are available in Hobe Sound, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 155 | 154 | -0.6% |
Summary: The Hobe Sound real estate market had 154 homes for sale in May 2024, a 0.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 50 | 45 | -10.0% |
| 3 Bedrooms | 60 | 68 | +13.3% |
| 4 Bedrooms | 29 | 29 | 0.0% |
| 5+ Bedrooms | 15 | 12 | -20.0% |
Summary: The Hobe Sound housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 34 | -12.8% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hobe Sound, you may be able to get a good deal. 79.4% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Hobe Sound in May 2024, down by 12.8% month-over-month. Of the 34 sold homes, 79% were sold under asking, 9% were sold at asking, and 12% were sold over asking.
Days on Market for Hobe Sound, FL
How long does it take to sell a home in Hobe Sound, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 46 Days | 66 Days | +41.7% |
Summary: Homes in Hobe Sound had an average of 66 days on market in May 2024, up by 41.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hobe Sound are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 34 homes were sold in Hobe Sound; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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