Is Homestead, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homestead is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Homestead, FL

How much do homes in Homestead, FL cost?

Median Sold Price

$449,993

$263/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$47,386(+11.8%)

Key Takeaway

Homes in Homestead have sold for 11.8% more than they did a year ago.

Summary: The median home sold price in Homestead was $449,993 in March 2024, up 11.8% from last year, and the median price per square foot was $263.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $163.3K$255K
+56.1%
2 $229.5K$261.5K
+13.9%
3 $379.9K$420.9K
+10.8%
4 $475.8K$529.8K
+11.3%
5+ $565K$600K
+6.2%

Summary: Homestead housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 56.1%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 6.2%.

Median Sold Price Compared To Nearby Cities

Florida City
+14.3%
Homestead
+11.8%
Princeton-Goulds
+8.9%
Everglades
+1.6%

Housing Supply in Homestead, FL

How many homes are available in Homestead, FL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1,1151,217+9.1%

Summary: The Homestead real estate market had 1,217 homes for sale in March 2024, a 9.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 52
-60.0%
2 9898
0.0%
3 534588
+10.1%
4 346388
+12.1%
5+ 132141
+6.8%

Summary: The Homestead housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 60%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 6.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
168160-4.8%

Asking Price vs. Sold Price

87 Homes Were Sold
Under Asking

42 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homestead, you may be able to get a good deal. 54.4% of homes here sold below asking price last month.

Summary: A total of 160 homes were sold or pending in Homestead in March 2024, down by 4.8% month-over-month. Of the 160 sold homes, 54% were sold under asking, 26% were sold at asking, and 19% were sold over asking.

Days on Market for Homestead, FL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
51 Days53 Days+4.7%

Summary: Homes in Homestead had an average of 53 days on market in Mar 2024, up by 4.7% compared to last year.

Breakdown of Home Sale Times

86 Homes Were Sold
Under 30 Days

39 Homes Were Sold
In 30 - 90 Days

35 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 160 homes were sold in Homestead; 54% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 22% 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 24 Days Ago

Newest Listings in Homestead, FL

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