Is City Center, 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, City Center was a Seller's Market.
Key Takeaway
City Center is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in City Center, FL
How much do homes in City Center, FL cost?
Median Sold Price
$525,025
$656/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in City Center have sold for 4.5% less than they did a year ago.
Summary: The median home sold price in City Center was $525,025 in March 2024, down 4.5% from last year, and the median price per square foot was $656.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $399K | $400K | 0.3% |
| 2 Bedrooms | $838.5K | $880K | +4.9% |
| 3 Bedrooms | $3.7M | $4.5M | +23.6% |
| 4 Bedrooms | $9.5M | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: City Center housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 23.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Bayshore | $1.6M | $2.1M | +29.2% |
| Flamingo / Lummus | $279.8K | $295.4K | +5.6% |
| Ocean Front | $580K | $599.2K | +3.3% |
| City Center | $550K | $525K | -4.5% |
Housing Supply in City Center, FL
How many homes are available in City Center, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 141 | 147 | +4.3% |
Summary: The City Center real estate market had 147 homes for sale in March 2024, a 4.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 62 | 68 | +9.7% |
| 2 Bedrooms | 66 | 66 | 0.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The City Center housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.7%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
3 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 City Center, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in City Center in March 2024, down by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for City Center, FL
How long does it take to sell a home in City Center, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 146 Days | 175 Days | +19.4% |
Summary: Homes in City Center had an average of 175 days on market in Mar 2024, up by 19.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in City Center are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in City Center; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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