Is Bal Harbour, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Bal Harbour was a Neutral 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 March 2023
Key Takeaway
Homes in Bal Harbour have sold for 3.4% less than they did a year ago.
Summary: The median home sold price in Bal Harbour was $1,600,000 in March 2024, down 3.4% from last year, and the median price per square foot was $980.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $670K | $506K | -24.5% |
| 2 Bedrooms | $1.1M | $1.2M | +8.7% |
| 3 Bedrooms | $3.3M | $3.9M | +15.6% |
| 4 Bedrooms | $6.7M | $6.8M | +0.7% |
| 5+ Bedrooms | $8.2M | - | N/A |
Summary: Bal Harbour housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.5%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bal Harbour | $1.6M | $1.6M | -3.4% |
| Surfside | $1.3M | $1.2M | -11.5% |
Housing Supply in Bal Harbour, FL
How many homes are available in Bal Harbour, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 140 | 147 | +5.0% |
Summary: The Bal Harbour real estate market had 147 homes for sale in March 2024, a 5.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 20 | +5.3% |
| 2 Bedrooms | 57 | 60 | +5.3% |
| 3 Bedrooms | 38 | 39 | +2.6% |
| 4 Bedrooms | 17 | 19 | +11.8% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Bal Harbour housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
6 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 Bal Harbour, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Bal Harbour in March 2024, down by 14.3% month-over-month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 193 Days | 120 Days | -37.9% |
Summary: Homes in Bal Harbour had an average of 120 days on market in Mar 2024, down by 37.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was 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 March 2024, 6 homes were sold in Bal Harbour; 17% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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