Is Homestead, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$459,974
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Homestead have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Homestead was $459,974 in June 2024, up 10.8% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $240K | +33.3% |
| 2 Bedrooms | $235K | $270K | +14.9% |
| 3 Bedrooms | $390K | $429.9K | +10.2% |
| 4 Bedrooms | $481.3K | $535.3K | +11.2% |
| 5+ Bedrooms | $570K | $610K | +7.0% |
Summary: Homestead housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 7%.
Median Sold Price Compared To Nearby Cities
| Florida City | $350K | $409.9K | +17.1% |
| Everglades | $799K | $890K | +11.4% |
| Homestead | $415.1K | $459.9K | +10.8% |
| Princeton-Goulds | $469.6K | $520K | +10.7% |
Housing Supply in Homestead, FL
How many homes are available in Homestead, FL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 1,261 | 1,266 | 0.4% |
Summary: The Homestead real estate market had 1,266 homes for sale in June 2024, a 0.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 8 | +100.0% |
| 2 Bedrooms | 123 | 111 | -9.8% |
| 3 Bedrooms | 591 | 577 | -2.4% |
| 4 Bedrooms | 406 | 427 | +5.2% |
| 5+ Bedrooms | 137 | 143 | +4.4% |
Summary: The Homestead housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 9.8%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 4.4%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 245 | 156 | -36.3% |
Asking Price vs. Sold Price
87 Homes Were Sold
Under Asking
44 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. 55.8% of homes here sold below asking price last month.
Summary: A total of 156 homes were sold or pending in Homestead in June 2024, down by 36.3% month-over-month. Of the 156 sold homes, 56% were sold under asking, 28% were sold at asking, and 16% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 40 Days | 44 Days | +9.2% |
Summary: Homes in Homestead had an average of 44 days on market in Jun 2024, up by 9.2% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
60 Homes Were Sold
In 30 - 90 Days
22 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 June 2024, 156 homes were sold in Homestead; 47% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
© 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.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc. 
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.