Is Wesley Chapel, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wesley Chapel is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Wesley Chapel has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Wesley Chapel, FL

How much do homes in Wesley Chapel, FL cost?

Median Sold Price

$427,358

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$16,811(+4.1%)

Key Takeaway

Homes in Wesley Chapel have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in Wesley Chapel was $427,358 in May 2024, up 4.1% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $44K$90K
+104.5%
2 $299.3K$260K
-13.1%
3 $354.2K$352.7K
-0.4%
4 $480K$489K
+1.9%
5+ $678.5K$665K
-2.0%

Summary: Wesley Chapel housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 104.5%, 2 bedroom homes decreased by 13.1%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 2%.

Median Sold Price Compared To Nearby Cities

Wesley Chapel
+4.1%
Lutz
+2.3%
Central Pasco
+2.0%
Land O Lakes
-7.2%
Thonotosassa
-10.2%

Housing Supply in Wesley Chapel, FL

How many homes are available in Wesley Chapel, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
899918+2.1%

Summary: The Wesley Chapel real estate market had 918 homes for sale in May 2024, a 2.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 21
-50.0%
2 5969
+16.9%
3 366371
+1.4%
4 306317
+3.6%
5+ 166160
-3.6%

Summary: The Wesley Chapel housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 16.9%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 3.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
180204+13.3%

Asking Price vs. Sold Price

98 Homes Were Sold
Under Asking

92 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wesley Chapel, you may be able to get a good deal. 48% of homes here sold below asking price last month.

Summary: A total of 204 homes were sold or pending in Wesley Chapel in May 2024, up by 13.3% month-over-month. Of the 204 sold homes, 48% were sold under asking, 45% were sold at asking, and 7% were sold over asking.

Days on Market for Wesley Chapel, FL

How long does it take to sell a home in Wesley Chapel, FL?

Average Sale Time

May 2023May 2024CHANGE
38 Days39 Days+3.1%

Summary: Homes in Wesley Chapel had an average of 39 days on market in May 2024, up by 3.1% compared to last year.

Breakdown of Home Sale Times

105 Homes Were Sold
Under 30 Days

75 Homes Were Sold
In 30 - 90 Days

24 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 204 homes were sold in Wesley Chapel; 51% of homes were sold within 30 days, 37% 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 23 Days Ago

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