Is South Coral Terrace, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South Coral Terrace has remained a Buyer's Market.
Key Takeaway
South Coral Terrace is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Coral Terrace, FL
How much do homes in South Coral Terrace, FL cost?
Median Sold Price
$700,000
$456/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Coral Terrace have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in South Coral Terrace was $700,000 in April 2024, up 12.9% from last year, and the median price per square foot was $456.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $530K | $559.5K | +5.6% |
| 3 Bedrooms | $629.5K | $700K | +11.2% |
| 4 Bedrooms | $685K | $976.4K | +42.5% |
| 5+ Bedrooms | $635K | $765.3K | +20.5% |
Summary: South Coral Terrace housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 42.5%, and 5+ bedroom homes increased by 20.5%.
Median Sold Price Compared To Nearby Neighborhoods
| East South Miami | $619.9K | $805.2K | +29.9% |
| South Coral Terrace | $620K | $700K | +12.9% |
| Granada | $1.4M | $1.5M | +5.8% |
| Biltmore | $2.1M | $1.7M | -16.7% |
Housing Supply in South Coral Terrace, FL
How many homes are available in South Coral Terrace, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 37 | 44 | +18.9% |
Summary: The South Coral Terrace real estate market had 44 homes for sale in April 2024, a 18.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 18 | 18 | 0.0% |
| 4 Bedrooms | 9 | 14 | +55.6% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The South Coral Terrace housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Coral Terrace, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in South Coral Terrace in April 2024, the same as the previous month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for South Coral Terrace, FL
How long does it take to sell a home in South Coral Terrace, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 114 Days | 52 Days | -54.0% |
Summary: Homes in South Coral Terrace had an average of 52 days on market in Apr 2024, down by 54% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Coral Terrace has remained consistent over time.
Summary: During April 2024, 5 homes were sold in South Coral Terrace; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing 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. This property is offered without respect to any protected classes in accordance with the law.