Is Okaloosa County, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Okaloosa County is a buyer's market

Buyer's
Market

Difference Since February 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

$367,285

$219/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$12,075(+3.4%)

Key Takeaway

Homes in Okaloosa County have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in Okaloosa County was $367,285 in February 2024, up 3.4% from last year, and the median price per square foot was $219.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $320K$344.2K
+7.6%
2 $308.2K$325.2K
+5.5%
3 $320.2K$335K
+4.6%
4 $405.1K$415K
+2.4%
5+ $559.6K$543.3K
-2.9%

Summary: Okaloosa County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 2.9%.

Median Sold Price Compared To Nearby Counties

Escambia County
+4.9%
Okaloosa County
+3.4%
Santa Rosa County
-0.8%
Walton County
-1.4%

Housing Supply in Okaloosa County, FL

How many homes are available in Okaloosa County, FL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,8482,088+13.0%

Summary: The Okaloosa County real estate market had 2,088 homes for sale in February 2024, a 13.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 107124
+15.9%
2 324373
+15.1%
3 715796
+11.3%
4 522596
+14.2%
5+ 180199
+10.6%

Summary: The Okaloosa County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.9%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes increased by 10.6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
207265+28.0%

Asking Price vs. Sold Price

150 Homes Were Sold
Under Asking

79 Homes Were Sold
At Asking

36 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Okaloosa County, you may be able to get a good deal. 56.6% of homes here sold below asking price last month.

Summary: A total of 265 homes were sold or pending in Okaloosa County in February 2024, up by 28.0% month-over-month. Of the 265 sold homes, 57% were sold under asking, 30% were sold at asking, and 14% 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

Feb 2023Feb 2024CHANGE
50 Days62 Days+23.5%

Summary: Homes in Okaloosa County had an average of 62 days on market in Feb 2024, up by 23.5% compared to last year.

Breakdown of Home Sale Times

111 Homes Were Sold
Under 30 Days

88 Homes Were Sold
In 30 - 90 Days

66 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Okaloosa County are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 265 homes were sold in Okaloosa County; 42% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 25% 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 18 Days Ago

Newest Listings in Okaloosa County, FL

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