Is Hobe Sound, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$527,832
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hobe Sound have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in Hobe Sound was $527,832 in March 2024, down 2.3% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $630K | $256K | -59.4% |
| 2 Bedrooms | $319.2K | $362.5K | +13.5% |
| 3 Bedrooms | $596K | $620.9K | +4.2% |
| 4 Bedrooms | $836.6K | $880K | +5.2% |
| 5+ Bedrooms | $2.6M | $2.9M | +12.5% |
Summary: Hobe Sound housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 59.4%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
| Indiantown | $575K | $710K | +23.5% |
| Port Salerno-Hobe Sound | $445.5K | $492.5K | +10.5% |
| Hobe Sound | $540K | $527.8K | -2.3% |
Housing Supply in Hobe Sound, FL
How many homes are available in Hobe Sound, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 164 | 176 | +7.3% |
Summary: The Hobe Sound real estate market had 176 homes for sale in March 2024, a 7.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 67 | 68 | +1.5% |
| 3 Bedrooms | 55 | 59 | +7.3% |
| 4 Bedrooms | 28 | 33 | +17.9% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Hobe Sound housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 32 | +52.4% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hobe Sound, you may be able to get a good deal. 84.4% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Hobe Sound in March 2024, up by 52.4% month-over-month. Of the 32 sold homes, 84% were sold under asking, 9% were sold at asking, and 6% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 76 Days | +69.6% |
Summary: Homes in Hobe Sound had an average of 76 days on market in Mar 2024, up by 69.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hobe Sound are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 32 homes were sold in Hobe Sound; 34% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
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© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.