Is North Bay Village, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, North Bay Village was a Neutral Market.
Key Takeaway
North Bay Village is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Bay Village, FL
How much do homes in North Bay Village, FL cost?
Median Sold Price
$447,500
$407/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in North Bay Village have sold for 14.8% more than they did a year ago.
Summary: The median home sold price in North Bay Village was $447,500 in November 2023, up 14.8% from last year, and the median price per square foot was $407.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229K | $258K | +12.7% |
| 2 Bedrooms | $414.5K | $477.5K | +15.2% |
| 3 Bedrooms | $820K | $890K | +8.5% |
| 4 Bedrooms | $1.3M | $1.5M | +18.8% |
| 5+ Bedrooms | $4.9M | $1.6M | -67.5% |
Summary: North Bay Village housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 67.5%.
Median Sold Price Compared To Nearby Cities
| North Bay Village | $389.8K | $447.5K | +14.8% |
| Miami Beach | $545.4K | $536K | -1.7% |
Housing Supply in North Bay Village, FL
How many homes are available in North Bay Village, FL?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 120 | 114 | -5.0% |
Summary: The North Bay Village real estate market had 114 homes for sale in November 2023, a 5.0% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 27 | 24 | -11.1% |
| 2 Bedrooms | 58 | 57 | -1.7% |
| 3 Bedrooms | 23 | 21 | -8.7% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The North Bay Village housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 16 | 8 | -50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Bay Village, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in North Bay Village in November 2023, down by 50.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for North Bay Village, FL
How long does it take to sell a home in North Bay Village, FL?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 55 Days | 52 Days | -5.3% |
Summary: Homes in North Bay Village had an average of 52 days on market in Nov 2023, down by 5.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in North Bay Village are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 8 homes were sold in North Bay Village; 50% 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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