Is Ocean Ridge, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ocean Ridge is a buyer's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Ocean Ridge, FL

How much do homes in Ocean Ridge, FL cost?

Median Sold Price

$1,637,500

$769/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$387,500(+31.0%)

Key Takeaway

Homes in Ocean Ridge have sold for 31% more than they did a year ago.

Summary: The median home sold price in Ocean Ridge was $1,637,500 in May 2024, up 31% from last year, and the median price per square foot was $769.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $215K$305K
+41.9%
2 $469.9K$672.5K
+43.1%
3 $1.7M$2.2M
+34.0%
4 $2.9M$3.8M
+30.7%
5+ $4.7M$5.5M
+17.6%

Summary: Ocean Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.9%, 2 bedroom homes increased by 43.1%, 3 bedroom homes increased by 34%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes increased by 17.6%.

Median Sold Price Compared To Nearby Cities

Ocean Ridge
+31.0%
Boynton Beach
+7.6%
Boynton Beach-Delray Beach
+4.1%

Housing Supply in Ocean Ridge, FL

How many homes are available in Ocean Ridge, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5551-7.3%

Summary: The Ocean Ridge real estate market had 51 homes for sale in May 2024, a 7.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 910
+11.1%
2 1615
-6.3%
3 1212
0.0%
4 98
-11.1%
5+ 96
-33.3%

Summary: The Ocean Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
75-28.6%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ocean Ridge, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Ocean Ridge in May 2024, down by 28.6% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for Ocean Ridge, FL

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

Average Sale Time

May 2023May 2024CHANGE
27 Days41 Days+50.5%

Summary: Homes in Ocean Ridge had an average of 41 days on market in May 2024, up by 50.5% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Ocean Ridge has remained consistent over time.

Summary: During May 2024, 5 homes were sold in Ocean Ridge; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% 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 12 Days Ago

Newest Listings in Ocean Ridge, FL

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