$5,641 Closing Credit*
$475,000
750 SqFt
2 Beds
•2 Full Baths
Isabel Dohse, Listing Office: Compass Florida, LLC
Is Bay Harbor Islands, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, Bay Harbor Islands was a Seller's Market.
Key Takeaway
Bay Harbor Islands is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bay Harbor Islands, FL
How much do homes in Bay Harbor Islands, FL cost?
Median Sold Price
$710,000
$525/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$85,000(+13.6%)
Key Takeaway
Homes in Bay Harbor Islands have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Bay Harbor Islands was $710,000 in August 2024, up 13.6% from last year, and the median price per square foot was $525.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $330K | $375K | +13.6% |
| 2 Bedrooms | $625K | $710K | +13.6% |
| 3 Bedrooms | $998.5K | $1.7M | +73.3% |
| 4 Bedrooms | $2.5M | $2.6M | +4.4% |
| 5+ Bedrooms | $4.7M | $8.7M | +84.2% |
Summary: Bay Harbor Islands housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 73.3%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 84.2%.
Median Sold Price Compared To Nearby Cities
| Bay Harbor Islands | $625K | $710K | +13.6% |
| Surfside | $1.2M | $1.2M | +7.3% |
| Bal Harbour | $1.6M | $1.3M | -18.5% |
Housing Supply in Bay Harbor Islands, FL
How many homes are available in Bay Harbor Islands, FL?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 114 | 127 | +11.4% |
Summary: The Bay Harbor Islands real estate market had 127 homes for sale in August 2024, a 11.4% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 22 | 26 | +18.2% |
| 2 Bedrooms | 52 | 54 | +3.8% |
| 3 Bedrooms | 19 | 24 | +26.3% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Bay Harbor Islands housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 26.3%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2024 | Aug 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 Bay Harbor Islands, 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 Bay Harbor Islands in August 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 Bay Harbor Islands, FL
How long does it take to sell a home in Bay Harbor Islands, FL?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 98 Days | 67 Days | -30.9% |
Summary: Homes in Bay Harbor Islands had an average of 67 days on market in Aug 2024, down by 30.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bay Harbor Islands are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 6 homes were sold in Bay Harbor Islands; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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