Is Palmetto, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Palmetto has remained a Seller's Market.
Housing Prices in Palmetto, FL
How much do homes in Palmetto, FL cost?
Median Sold Price
$397,400
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palmetto was $397,400 in March 2024, down 0.8% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $82.7K | N/A |
2 Bedrooms | $305.2K | $311K | +1.9% |
3 Bedrooms | $398.1K | $375.4K | -5.7% |
4 Bedrooms | $469.9K | $427K | -9.1% |
5+ Bedrooms | $570K | $432K | -24.2% |
Summary: Palmetto housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.9%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 24.2%.
Median Sold Price Compared To Nearby Cities
Palmetto | $400.7K | $397.4K | -0.8% |
Ellenton | $420K | $369.7K | -12.0% |
Housing Supply in Palmetto, FL
How many homes are available in Palmetto, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
503 | 547 | +8.7% |
Summary: The Palmetto real estate market had 547 homes for sale in March 2024, a 8.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 10 | +42.9% |
2 Bedrooms | 107 | 126 | +17.8% |
3 Bedrooms | 229 | 245 | +7.0% |
4 Bedrooms | 129 | 137 | +6.2% |
5+ Bedrooms | 31 | 29 | -6.5% |
Summary: The Palmetto housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 42.9%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 97 | +73.2% |
Asking Price vs. Sold Price
65 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 97 homes were sold or pending in Palmetto in March 2024, up by 73.2% month-over-month. Of the 97 sold homes, 67% were sold under asking, 27% were sold at asking, and 6% were sold over asking.
Days on Market for Palmetto, FL
How long does it take to sell a home in Palmetto, FL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
51 Days | 59 Days | +14.9% |
Summary: Homes in Palmetto had an average of 59 days on market in Mar 2024, up by 14.9% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Summary: During March 2024, 97 homes were sold in Palmetto; 42% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.