Is Cutler Bay, 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, Cutler Bay was a Seller's Market.
Housing Prices in Cutler Bay, FL
How much do homes in Cutler Bay, FL cost?
Median Sold Price
$549,500
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cutler Bay was $549,500 in March 2024, up 7.7% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $182K | $187K | +2.7% |
2 Bedrooms | $250K | $277K | +10.8% |
3 Bedrooms | $470K | $515K | +9.6% |
4 Bedrooms | $575K | $630K | +9.6% |
5+ Bedrooms | $820K | $837.5K | +2.1% |
Summary: Cutler Bay housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 2.1%.
Median Sold Price Compared To Nearby Cities
Palmetto Bay | $966.1K | $1.0M | +11.1% |
Kendall-Palmetto Bay | $701.4K | $776.9K | +10.8% |
Princeton-Goulds | $459.5K | $500.3K | +8.9% |
Cutler Bay | $510.4K | $549.5K | +7.7% |
Housing Supply in Cutler Bay, FL
How many homes are available in Cutler Bay, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
207 | 203 | -1.9% |
Summary: The Cutler Bay real estate market had 203 homes for sale in March 2024, a 1.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 4 | -33.3% |
2 Bedrooms | 18 | 14 | -22.2% |
3 Bedrooms | 87 | 88 | +1.1% |
4 Bedrooms | 60 | 58 | -3.3% |
5+ Bedrooms | 36 | 39 | +8.3% |
Summary: The Cutler Bay housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
38 | 25 | -34.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Cutler Bay in March 2024, down by 34.2% month-over-month. Of the 25 sold homes, 56% were sold under asking, 36% were sold at asking, and 8% were sold over asking.
Days on Market for Cutler Bay, FL
How long does it take to sell a home in Cutler Bay, FL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
45 Days | 41 Days | -8.5% |
Summary: Homes in Cutler Bay had an average of 41 days on market in Mar 2024, down by 8.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in Cutler Bay; 52% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.