Is Flamingo / Lummus, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Flamingo / Lummus was a Seller's Market.
Key Takeaway
Flamingo / Lummus is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Flamingo / Lummus, FL
How much do homes in Flamingo / Lummus, FL cost?
Median Sold Price
$296,700
$480/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Flamingo / Lummus have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Flamingo / Lummus was $296,700 in April 2024, up 4.1% from last year, and the median price per square foot was $480.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $266.6K | $275K | +3.1% |
| 2 Bedrooms | $402.5K | $425K | +5.6% |
| 3 Bedrooms | $1.3M | $792.5K | -39.7% |
| 4 Bedrooms | $2.2M | $1.4M | -38.9% |
| 5+ Bedrooms | - | $1.1M | N/A |
Summary: Flamingo / Lummus housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 5.6%, 3 bedroom homes decreased by 39.7%, 4 bedroom homes decreased by 38.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Flamingo / Lummus | $285K | $296.7K | +4.1% |
| City Center | $550K | $550K | 0.0% |
| South Point | $1.1M | $1.1M | -6.0% |
Housing Supply in Flamingo / Lummus, FL
How many homes are available in Flamingo / Lummus, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 227 | 255 | +12.3% |
Summary: The Flamingo / Lummus real estate market had 255 homes for sale in April 2024, a 12.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 171 | 193 | +12.9% |
| 2 Bedrooms | 46 | 51 | +10.9% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Flamingo / Lummus housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 10.9%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Flamingo / Lummus, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Flamingo / Lummus in April 2024, up by 9.1% month-over-month. Of the 24 sold homes, 75% were sold under asking, 21% were sold at asking, and 4% were sold over asking.
Days on Market for Flamingo / Lummus, FL
How long does it take to sell a home in Flamingo / Lummus, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 58 Days | 57 Days | -2.1% |
Summary: Homes in Flamingo / Lummus had an average of 57 days on market in Apr 2024, down by 2.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Flamingo / Lummus has remained consistent over time.
Summary: During April 2024, 24 homes were sold in Flamingo / Lummus; 29% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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