Is Port Salerno-Hobe Sound, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Port Salerno-Hobe Sound is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Port Salerno-Hobe Sound has remained a Seller's Market.

Key Takeaway

Port Salerno-Hobe Sound is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Port Salerno-Hobe Sound, FL

How much do homes in Port Salerno-Hobe Sound, FL cost?

Median Sold Price

$502,605

$290/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$54,005(+12.0%)

Key Takeaway

Homes in Port Salerno-Hobe Sound have sold for 12% more than they did a year ago.

Summary: The median home sold price in Port Salerno-Hobe Sound was $502,605 in May 2024, up 12% from last year, and the median price per square foot was $290.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $175K$180K
+2.9%
2 $300K$307.7K
+2.6%
3 $506.2K$544K
+7.5%
4 $840K$912.5K
+8.6%
5+ $3.4M$2.7M
-20.0%

Summary: Port Salerno-Hobe Sound housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 20%.

Median Sold Price Compared To Nearby Cities

Port Salerno-Hobe Sound
+12.0%
Sewall's Point
+12.0%
Stuart
+12.0%
Hobe Sound
+1.8%
Jupiter Island
-8.7%

Housing Supply in Port Salerno-Hobe Sound, FL

How many homes are available in Port Salerno-Hobe Sound, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
532569+7.0%

Summary: The Port Salerno-Hobe Sound real estate market had 569 homes for sale in May 2024, a 7.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 910
+11.1%
2 176183
+4.0%
3 211234
+10.9%
4 9297
+5.4%
5+ 4445
+2.3%

Summary: The Port Salerno-Hobe Sound 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 increased by 4%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 2.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
93101+8.6%

Asking Price vs. Sold Price

77 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Port Salerno-Hobe Sound, you may be able to get a good deal. 76.2% of homes here sold below asking price last month.

Summary: A total of 101 homes were sold or pending in Port Salerno-Hobe Sound in May 2024, up by 8.6% month-over-month. Of the 101 sold homes, 76% were sold under asking, 15% were sold at asking, and 9% were sold over asking.

Days on Market for Port Salerno-Hobe Sound, FL

How long does it take to sell a home in Port Salerno-Hobe Sound, FL?

Average Sale Time

May 2023May 2024CHANGE
33 Days67 Days+99.4%

Summary: Homes in Port Salerno-Hobe Sound had an average of 67 days on market in May 2024, up by 99.4% compared to last year.

Breakdown of Home Sale Times

49 Homes Were Sold
Under 30 Days

27 Homes Were Sold
In 30 - 90 Days

25 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Port Salerno-Hobe Sound are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 101 homes were sold in Port Salerno-Hobe Sound; 49% of homes were sold within 30 days, 27% 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 20 Days Ago

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