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 March 2023
At the same time last year, North Bay Village was a Seller's 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
$440,000
$409/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in North Bay Village have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in North Bay Village was $440,000 in March 2024, up 7.3% from last year, and the median price per square foot was $409.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $246.2K | $271.7K | +10.4% |
| 2 Bedrooms | $465K | $442.5K | -4.8% |
| 3 Bedrooms | $945K | $870K | -7.9% |
| 4 Bedrooms | $3.1M | $1.2M | -60.4% |
| 5+ Bedrooms | - | $1.6M | N/A |
Summary: North Bay Village housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 60.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Miami Beach | $525.7K | $569.7K | +8.4% |
| North Bay Village | $410K | $440K | +7.3% |
Housing Supply in North Bay Village, FL
How many homes are available in North Bay Village, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 105 | 120 | +14.3% |
Summary: The North Bay Village real estate market had 120 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 30 | +3.4% |
| 2 Bedrooms | 47 | 58 | +23.4% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The North Bay Village housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 23.4%, 3 bedroom homes increased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was 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. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in North Bay Village in March 2024, up by 16.7% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 85 Days | 168 Days | +97.8% |
Summary: Homes in North Bay Village had an average of 168 days on market in Mar 2024, up by 97.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in North Bay Village has remained consistent over time.
Summary: During March 2024, 7 homes were sold in North Bay Village; 14% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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