Is Defuniak Springs, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Defuniak Springs is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Defuniak Springs was a Seller's Market.

Key Takeaway

Defuniak Springs is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Defuniak Springs, FL

How much do homes in Defuniak Springs, FL cost?

Median Sold Price

$254,900

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$9,940(+4.1%)

Key Takeaway

Homes in Defuniak Springs have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in Defuniak Springs was $254,900 in February 2024, up 4.1% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $179.7K$80K
-55.5%
2 $160K$199K
+24.4%
3 $229.9K$249.9K
+8.7%
4 $266.9K$271.9K
+1.9%
5+ $317K$425K
+34.1%

Summary: Defuniak Springs housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.5%, 2 bedroom homes increased by 24.4%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 34.1%.

Median Sold Price Compared To Nearby Cities

De Funiak Springs
+12.5%
Defuniak Springs
+4.1%
Redbay
+1.5%
Paxton-Darlington
-1.0%

Housing Supply in Defuniak Springs, FL

How many homes are available in Defuniak Springs, FL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
9097+7.8%

Summary: The Defuniak Springs real estate market had 97 homes for sale in February 2024, a 7.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 33
0.0%
2 1311
-15.4%
3 4348
+11.6%
4 2530
+20.0%
5+ 65
-16.7%

Summary: The Defuniak Springs housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1311-15.4%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Defuniak Springs, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Defuniak Springs in February 2024, down by 15.4% month-over-month. Of the 11 sold homes, 55% were sold under asking, 36% were sold at asking, and 9% were sold over asking.

Days on Market for Defuniak Springs, FL

How long does it take to sell a home in Defuniak Springs, FL?

Average Sale Time

Feb 2023Feb 2024CHANGE
39 Days92 Days+131.5%

Summary: Homes in Defuniak Springs had an average of 92 days on market in Feb 2024, up by 131.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Defuniak Springs are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 11 homes were sold in Defuniak Springs; 36% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Defuniak Springs, FL

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