$5,106 Closing Credit*
$430,000
1,608 SqFt
3 Beds
•2 Full Baths
Renzo Ordinola, Listing Office: Marzucco Real Estate
Is Homestead, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, Homestead was a Seller's Market.
Key Takeaway
Homestead is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Homestead, FL
How much do homes in Homestead, FL cost?
Median Sold Price
$460,190
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$35,190(+8.3%)
Key Takeaway
Homes in Homestead have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Homestead was $460,190 in August 2024, up 8.3% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $187.5K | $210K | +12.0% |
| 2 Bedrooms | $240K | $282K | +17.5% |
| 3 Bedrooms | $397.2K | $430K | +8.2% |
| 4 Bedrooms | $489.5K | $540K | +10.3% |
| 5+ Bedrooms | $570K | $610K | +7.0% |
Summary: Homestead housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 7%.
Median Sold Price Compared To Nearby Cities
| Florida City | $365.1K | $409.9K | +12.3% |
| Princeton-Goulds | $479.8K | $525.1K | +9.4% |
| Everglades | $800K | $874.9K | +9.4% |
| Homestead | $425K | $460.1K | +8.3% |
Housing Supply in Homestead, FL
How many homes are available in Homestead, FL?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 1,309 | 1,358 | +3.7% |
Summary: The Homestead real estate market had 1,358 homes for sale in August 2024, a 3.7% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 9 | -18.2% |
| 2 Bedrooms | 120 | 121 | +0.8% |
| 3 Bedrooms | 587 | 621 | +5.8% |
| 4 Bedrooms | 443 | 462 | +4.3% |
| 5+ Bedrooms | 148 | 145 | -2.0% |
Summary: The Homestead housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 2%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 217 | 197 | -9.2% |
Asking Price vs. Sold Price
106 Homes Were Sold
Under Asking
66 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Homestead, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 197 homes were sold or pending in Homestead in August 2024, down by 9.2% month-over-month. Of the 197 sold homes, 54% were sold under asking, 34% were sold at asking, and 13% 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
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 39 Days | 48 Days | +22.0% |
Summary: Homes in Homestead had an average of 48 days on market in Aug 2024, up by 22% compared to last year.
Breakdown of Home Sale Times
97 Homes Were Sold
Under 30 Days
74 Homes Were Sold
In 30 - 90 Days
26 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Homestead are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 197 homes were sold in Homestead; 49% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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