Is Port Malabar, 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, Port Malabar was a Seller's Market.
Key Takeaway
Port Malabar is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Port Malabar, FL
How much do homes in Port Malabar, FL cost?
Median Sold Price
$326,071
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Port Malabar have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Port Malabar was $326,071 in March 2024, up 1.8% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $121K | $129.2K | +6.8% |
| 2 Bedrooms | $220K | $234.9K | +6.8% |
| 3 Bedrooms | $300K | $304.1K | +1.4% |
| 4 Bedrooms | $353K | $344.9K | -2.3% |
| 5+ Bedrooms | $402.2K | $397.9K | -1.1% |
Summary: Port Malabar housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes decreased by 1.1%.
Housing Supply in Port Malabar, FL
How many homes are available in Port Malabar, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,098 | 1,228 | +11.8% |
Summary: The Port Malabar real estate market had 1,228 homes for sale in March 2024, a 11.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 57 | 59 | +3.5% |
| 3 Bedrooms | 523 | 591 | +13.0% |
| 4 Bedrooms | 491 | 545 | +11.0% |
| 5+ Bedrooms | 27 | 31 | +14.8% |
Summary: The Port Malabar housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 14.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 150 | 180 | +20.0% |
Asking Price vs. Sold Price
93 Homes Were Sold
Under Asking
66 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Port Malabar, you may be able to get a good deal. 51.7% of homes here sold below asking price last month.
Summary: A total of 180 homes were sold or pending in Port Malabar in March 2024, up by 20.0% month-over-month. Of the 180 sold homes, 52% were sold under asking, 37% were sold at asking, and 12% were sold over asking.
Days on Market for Port Malabar, FL
How long does it take to sell a home in Port Malabar, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 64 Days | 69 Days | +8.8% |
Summary: Homes in Port Malabar had an average of 69 days on market in Mar 2024, up by 8.8% compared to last year.
Breakdown of Home Sale Times
69 Homes Were Sold
Under 30 Days
53 Homes Were Sold
In 30 - 90 Days
58 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Port Malabar are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 180 homes were sold in Port Malabar; 38% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.
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