Is Okaloosa County, 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, Okaloosa County was a Seller's Market.
Key Takeaway
Okaloosa County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Okaloosa County, FL
How much do homes in Okaloosa County, FL cost?
Median Sold Price
$364,019
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Okaloosa County have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Okaloosa County was $364,019 in March 2024, up 2.5% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $321K | $337.5K | +5.1% |
| 2 Bedrooms | $305K | $307.6K | +0.9% |
| 3 Bedrooms | $320.3K | $334.6K | +4.5% |
| 4 Bedrooms | $401.3K | $414.5K | +3.3% |
| 5+ Bedrooms | $572.1K | $548.3K | -4.1% |
Summary: Okaloosa County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.1%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 4.1%.
Median Sold Price Compared To Nearby Counties
| Okaloosa County | $355.1K | $364K | +2.5% |
| Escambia County | $175K | $178K | +1.7% |
| Santa Rosa County | $389.9K | $388.3K | -0.4% |
| Walton County | $634.2K | $611.4K | -3.6% |
Housing Supply in Okaloosa County, FL
How many homes are available in Okaloosa County, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2,000 | 2,259 | +13.0% |
Summary: The Okaloosa County real estate market had 2,259 homes for sale in March 2024, a 13.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 113 | 145 | +28.3% |
| 2 Bedrooms | 355 | 427 | +20.3% |
| 3 Bedrooms | 769 | 846 | +10.0% |
| 4 Bedrooms | 572 | 630 | +10.1% |
| 5+ Bedrooms | 191 | 211 | +10.5% |
Summary: The Okaloosa County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.3%, 2 bedroom homes increased by 20.3%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 285 | 271 | -4.9% |
Asking Price vs. Sold Price
160 Homes Were Sold
Under Asking
76 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Okaloosa County, you may be able to get a good deal. 59% of homes here sold below asking price last month.
Summary: A total of 271 homes were sold or pending in Okaloosa County in March 2024, down by 4.9% month-over-month. Of the 271 sold homes, 59% were sold under asking, 28% were sold at asking, and 13% were sold over asking.
Days on Market for Okaloosa County, FL
How long does it take to sell a home in Okaloosa County, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 52 Days | 63 Days | +21.0% |
Summary: Homes in Okaloosa County had an average of 63 days on market in Mar 2024, up by 21% compared to last year.
Breakdown of Home Sale Times
121 Homes Were Sold
Under 30 Days
81 Homes Were Sold
In 30 - 90 Days
69 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Okaloosa County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 271 homes were sold in Okaloosa County; 45% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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