Is South Central Beach, 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, South Central Beach was a Seller's Market.
Key Takeaway
South Central Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Central Beach, FL
How much do homes in South Central Beach, FL cost?
Median Sold Price
$470,000
$448/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in South Central Beach have sold for 3% more than they did a year ago.
Summary: The median home sold price in South Central Beach was $470,000 in March 2024, up 3% from last year, and the median price per square foot was $448.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $362.5K | $356.4K | -1.7% |
| 2 Bedrooms | $535K | $530K | -0.9% |
| 3 Bedrooms | $2.2M | $1.9M | -9.4% |
| 4 Bedrooms | $3.0M | $2.0M | -32.7% |
| 5+ Bedrooms | - | $6.2M | N/A |
Summary: South Central Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 32.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| South Central Beach | $456.5K | $470K | +3.0% |
| North Beach | $785K | $800K | +1.9% |
Housing Supply in South Central Beach, FL
How many homes are available in South Central Beach, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 358 | 398 | +11.2% |
Summary: The South Central Beach real estate market had 398 homes for sale in March 2024, a 11.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 147 | 163 | +10.9% |
| 2 Bedrooms | 174 | 196 | +12.6% |
| 3 Bedrooms | 32 | 34 | +6.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The South Central Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Central Beach, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in South Central Beach in March 2024, the same as the previous month. Of the 19 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for South Central Beach, FL
How long does it take to sell a home in South Central Beach, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 75 Days | 86 Days | +14.9% |
Summary: Homes in South Central Beach had an average of 86 days on market in Mar 2024, up by 14.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in South Central Beach are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 19 homes were sold in South Central Beach; 37% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 53% of homes were sold over 90 days.
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