Is Redbay, 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, Redbay was a Seller's Market.
Key Takeaway
Redbay is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Redbay, FL
How much do homes in Redbay, FL cost?
Median Sold Price
$265,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Redbay have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Redbay was $265,000 in May 2024, up 1.9% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $265K | N/A |
| 2 Bedrooms | $278.2K | $182.4K | -34.4% |
| 3 Bedrooms | $288.5K | $309K | +7.1% |
| 4 Bedrooms | $258.4K | $262.4K | +1.5% |
| 5+ Bedrooms | $291.9K | $319.9K | +9.6% |
Summary: Redbay 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 34.4%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
| Ponce de Leon | $300K | $312K | +4.0% |
| Redbay | $259.9K | $265K | +1.9% |
| Defuniak Springs | $253.2K | $257.9K | +1.9% |
| De Funiak Springs | $247.4K | $248.9K | +0.6% |
| Ponce De Leon | $320K | $312K | -2.5% |
Housing Supply in Redbay, FL
How many homes are available in Redbay, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Summary: The Redbay real estate market had 12 homes for sale in May 2024, a 25.0% decrease 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 7 | 4 | -42.9% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Redbay 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redbay, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Redbay in May 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Redbay, FL
How long does it take to sell a home in Redbay, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 135 Days | 15 Days | -88.5% |
Summary: Homes in Redbay had an average of 15 days on market in May 2024, down by 88.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redbay are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Redbay; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information 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. Information deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.