Is South Point, 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 Point was a Seller's Market.
Key Takeaway
South Point is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Point, FL
How much do homes in South Point, FL cost?
Median Sold Price
$1,064,500
$931/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in South Point have sold for 9.2% less than they did a year ago.
Summary: The median home sold price in South Point was $1,064,500 in March 2024, down 9.2% from last year, and the median price per square foot was $931.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $527K | $425K | -19.4% |
| 2 Bedrooms | $1.4M | $1.4M | -0.7% |
| 3 Bedrooms | $4.3M | $2.7M | -37.8% |
| 4 Bedrooms | $9.0M | $3.9M | -56.4% |
| 5+ Bedrooms | $4.5M | $4.7M | +3.4% |
Summary: South Point housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.4%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes decreased by 37.8%, 4 bedroom homes decreased by 56.4%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Flamingo / Lummus | $279.8K | $295.4K | +5.6% |
| South Point | $1.1M | $1.0M | -9.2% |
Housing Supply in South Point, FL
How many homes are available in South Point, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 202 | 213 | +5.4% |
Summary: The South Point real estate market had 213 homes for sale in March 2024, a 5.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 68 | 72 | +5.9% |
| 2 Bedrooms | 68 | 68 | 0.0% |
| 3 Bedrooms | 45 | 52 | +15.6% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The South Point housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Point, you may be able to get a good deal. 82.4% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in South Point in March 2024, up by 30.8% month-over-month. Of the 17 sold homes, 82% were sold under asking, 12% were sold at asking, and 6% were sold over asking.
Days on Market for South Point, FL
How long does it take to sell a home in South Point, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 102 Days | 85 Days | -16.8% |
Summary: Homes in South Point had an average of 85 days on market in Mar 2024, down by 16.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Point are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in South Point; 53% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.
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