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 March 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
$737,000
$534/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bay Harbor Islands have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Bay Harbor Islands was $737,000 in March 2024, up 8.4% from last year, and the median price per square foot was $534.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $359K | +12.2% |
| 2 Bedrooms | $650K | $715K | +10.0% |
| 3 Bedrooms | $1.1M | $1.4M | +34.5% |
| 4 Bedrooms | $1.5M | $2.6M | +73.3% |
| 5+ Bedrooms | $5.5M | $3.1M | -42.6% |
Summary: Bay Harbor Islands housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 34.5%, 4 bedroom homes increased by 73.3%, and 5+ bedroom homes decreased by 42.6%.
Median Sold Price Compared To Nearby Cities
| Bay Harbor Islands | $680K | $737K | +8.4% |
| Bal Harbour | $1.6M | $1.6M | -3.4% |
| Surfside | $1.3M | $1.2M | -11.5% |
Housing Supply in Bay Harbor Islands, FL
How many homes are available in Bay Harbor Islands, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 119 | 127 | +6.7% |
Summary: The Bay Harbor Islands real estate market had 127 homes for sale in March 2024, a 6.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 25 | 25 | 0.0% |
| 2 Bedrooms | 59 | 65 | +10.2% |
| 3 Bedrooms | 17 | 19 | +11.8% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Bay Harbor Islands housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 11.8%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 5 | -61.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was 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. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Bay Harbor Islands in March 2024, down by 61.5% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 89 Days | 71 Days | -20.8% |
Summary: Homes in Bay Harbor Islands had an average of 71 days on market in Mar 2024, down by 20.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bay Harbor Islands has remained consistent over time.
Summary: During March 2024, 5 homes were sold in Bay Harbor Islands; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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