Is Palm River-Gibsonton, 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, Palm River-Gibsonton has remained a Seller's Market.
Key Takeaway
Palm River-Gibsonton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palm River-Gibsonton, FL
How much do homes in Palm River-Gibsonton, FL cost?
Median Sold Price
$334,444
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palm River-Gibsonton have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Palm River-Gibsonton was $334,444 in May 2024, up 1.2% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | - | N/A |
| 2 Bedrooms | $260K | $255K | -1.9% |
| 3 Bedrooms | $328.4K | $320K | -2.6% |
| 4 Bedrooms | $380K | $380K | 0.0% |
| 5+ Bedrooms | $455K | $430K | -5.5% |
Summary: Palm River-Gibsonton 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 decreased by 1.9%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 5.5%.
Housing Supply in Palm River-Gibsonton, FL
How many homes are available in Palm River-Gibsonton, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 302 | 317 | +5.0% |
Summary: The Palm River-Gibsonton real estate market had 317 homes for sale in May 2024, a 5.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 49 | 45 | -8.2% |
| 3 Bedrooms | 156 | 170 | +9.0% |
| 4 Bedrooms | 70 | 77 | +10.0% |
| 5+ Bedrooms | 26 | 24 | -7.7% |
Summary: The Palm River-Gibsonton 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 decreased by 8.2%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 78 | +16.4% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palm River-Gibsonton, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 78 homes were sold or pending in Palm River-Gibsonton in May 2024, up by 16.4% month-over-month. Of the 78 sold homes, 50% were sold under asking, 36% were sold at asking, and 14% were sold over asking.
Days on Market for Palm River-Gibsonton, FL
How long does it take to sell a home in Palm River-Gibsonton, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 31 Days | -16.6% |
Summary: Homes in Palm River-Gibsonton had an average of 31 days on market in May 2024, down by 16.6% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palm River-Gibsonton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 78 homes were sold in Palm River-Gibsonton; 56% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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