$337,500
42.00 Acres
Land
Lisa R LaFlure, Anna LaNeve, Listing Office: Scenic Sothebys International Realty
Is Redbay, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, Redbay was a Seller's Market.
Key Takeaway
Redbay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Redbay, FL
How much do homes in Redbay, FL cost?
Median Sold Price
$262,439
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
-$2,056(-0.8%)
Key Takeaway
Homes in Redbay have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in Redbay was $262,439 in August 2024, down 0.8% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | - | N/A |
| 2 Bedrooms | $262.4K | $220K | -16.2% |
| 3 Bedrooms | $337K | $230K | -31.8% |
| 4 Bedrooms | $258.4K | $265K | +2.5% |
| 5+ Bedrooms | $304.9K | - | N/A |
Summary: Redbay housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.2%, 3 bedroom homes decreased by 31.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Defuniak Springs | $254K | $255.9K | +0.7% |
| Redbay | $264.4K | $262.4K | -0.8% |
| De Funiak Springs | $244.9K | $234.4K | -4.3% |
| Ponce De Leon | $365K | $294.5K | -19.3% |
| Ponce de Leon | $365K | $280K | -23.3% |
Housing Supply in Redbay, FL
How many homes are available in Redbay, FL?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Summary: The Redbay real estate market had 17 homes for sale in August 2024, a 6.3% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Redbay housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redbay, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Redbay in August 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Redbay, FL
How long does it take to sell a home in Redbay, FL?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 20 Days | 102 Days | +389.6% |
Summary: Homes in Redbay had an average of 102 days on market in Aug 2024, up by 389.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Redbay are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During August 2024, 1 homes were sold in Redbay; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.