Is Redbay, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Redbay has remained a Seller's Market.
Key Takeaway
Redbay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Redbay, FL cost?
Median Sold Price
$264,990
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Redbay have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in Redbay was $264,990 in August 2023, up 12.3% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $265K | N/A |
| 2 Bedrooms | $100K | $380K | +280.0% |
| 3 Bedrooms | $230K | $337K | +46.5% |
| 4 Bedrooms | $239.9K | $258.4K | +7.7% |
| 5+ Bedrooms | $299.9K | $304.9K | +1.7% |
Summary: Redbay housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 280%, 3 bedroom homes increased by 46.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
| Redbay | $235.9K | $264.9K | +12.3% |
| Defuniak Springs | $228K | $252.2K | +10.6% |
| De Funiak Springs | $224.9K | $225K | 0.0% |
Housing Supply
How many homes are available in Redbay, FL?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 21 | 22 | +4.8% |
Summary: The Redbay real estate market had 22 homes for sale in August 2023, a 4.8% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 14 | 13 | -7.1% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Redbay housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redbay, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Redbay in August 2023, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market
How long does it take to sell a home in Redbay, FL?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 21 Days | 54 Days | +150.0% |
Summary: Homes in Redbay had an average of 54 days on market in Aug 2023, up by 150% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Redbay are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 6 homes were sold in Redbay; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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© 2023 Central Panhandle Association of REALTORS.© All Rights Reserved.