Is Hobe Sound, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hobe Sound is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Hobe Sound has remained a Seller's Market.

Key Takeaway

Hobe Sound is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Hobe Sound, FL

How much do homes in Hobe Sound, FL cost?

Median Sold Price

$529,000

$307/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$9,333(+1.8%)

Key Takeaway

Homes in Hobe Sound have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in Hobe Sound was $529,000 in May 2024, up 1.8% from last year, and the median price per square foot was $307.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $443K$200K
-54.9%
2 $316K$370K
+17.1%
3 $580K$600.5K
+3.5%
4 $782.5K$965K
+23.3%
5+ $3.6M$1.9M
-46.3%

Summary: Hobe Sound housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.9%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes decreased by 46.3%.

Median Sold Price Compared To Nearby Cities

Indiantown
+21.6%
Port Salerno-Hobe Sound
+12.0%
Hobe Sound
+1.8%
Jupiter Island
-8.7%

Housing Supply in Hobe Sound, FL

How many homes are available in Hobe Sound, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
155154-0.6%

Summary: The Hobe Sound real estate market had 154 homes for sale in May 2024, a 0.6% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 5045
-10.0%
3 6068
+13.3%
4 2929
0.0%
5+ 1512
-20.0%

Summary: The Hobe Sound housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3934-12.8%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hobe Sound, you may be able to get a good deal. 79.4% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in Hobe Sound in May 2024, down by 12.8% month-over-month. Of the 34 sold homes, 79% were sold under asking, 9% were sold at asking, and 12% were sold over asking.

Days on Market for Hobe Sound, FL

How long does it take to sell a home in Hobe Sound, FL?

Average Sale Time

May 2023May 2024CHANGE
46 Days66 Days+41.7%

Summary: Homes in Hobe Sound had an average of 66 days on market in May 2024, up by 41.7% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hobe Sound are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 34 homes were sold in Hobe Sound; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 24% 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 16 Days Ago

Newest Listings in Hobe Sound, FL

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