Is South Westside, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Westside is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, South Westside has remained a Seller's Market.

Key Takeaway

South Westside is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in South Westside, FL

How much do homes in South Westside, FL cost?

Median Sold Price

$650,000

$379/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$51,000(+8.5%)

Key Takeaway

Homes in South Westside have sold for 8.5% more than they did a year ago.

Summary: The median home sold price in South Westside was $650,000 in April 2024, up 8.5% from last year, and the median price per square foot was $379.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $175K$217.5K
+24.3%
2 $365K$315K
-13.7%
3 $550K$630K
+14.5%
4 $660K$701.5K
+6.3%
5+ $735K$792K
+7.8%

Summary: South Westside housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.3%, 2 bedroom homes decreased by 13.7%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 7.8%.

Median Sold Price Compared To Nearby Cities

North Westside
+10.7%
Kendall-Palmetto Bay
+10.0%
South Westside
+8.5%

Housing Supply in South Westside, FL

How many homes are available in South Westside, FL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
194195+0.5%

Summary: The South Westside real estate market had 195 homes for sale in April 2024, a 0.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1311
-15.4%
2 1615
-6.3%
3 6976
+10.1%
4 6160
-1.6%
5+ 3533
-5.7%

Summary: The South Westside housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.4%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 10.1%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 5.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
4833-31.3%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Westside, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in South Westside in April 2024, down by 31.3% month-over-month. Of the 33 sold homes, 67% were sold under asking, 15% were sold at asking, and 18% were sold over asking.

Days on Market for South Westside, FL

How long does it take to sell a home in South Westside, FL?

Average Sale Time

Apr 2023Apr 2024CHANGE
43 Days39 Days-7.7%

Summary: Homes in South Westside had an average of 39 days on market in Apr 2024, down by 7.7% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Westside are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 33 homes were sold in South Westside; 58% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

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