Is Wynwood, 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, Wynwood was a Seller's Market.
Key Takeaway
Wynwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wynwood, FL
How much do homes in Wynwood, FL cost?
Median Sold Price
$665,500
$621/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wynwood have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in Wynwood was $665,500 in March 2024, down 0.7% from last year, and the median price per square foot was $621.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $447.5K | $445K | -0.6% |
| 2 Bedrooms | $725K | $732.5K | +1.0% |
| 3 Bedrooms | $1.2M | $1.1M | -6.6% |
| 4 Bedrooms | $1.7M | $2.8M | +58.7% |
| 5+ Bedrooms | $4.3M | $4.2M | -4.0% |
Summary: Wynwood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes increased by 1%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes increased by 58.7%, and 5+ bedroom homes decreased by 4%.
Median Sold Price Compared To Nearby Neighborhoods
| Upper East Side | $775K | $810K | +4.5% |
| Wynwood | $670K | $665.5K | -0.7% |
Housing Supply in Wynwood, FL
How many homes are available in Wynwood, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 396 | 455 | +14.9% |
Summary: The Wynwood real estate market had 455 homes for sale in March 2024, a 14.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 109 | 129 | +18.3% |
| 2 Bedrooms | 169 | 193 | +14.2% |
| 3 Bedrooms | 79 | 88 | +11.4% |
| 4 Bedrooms | 30 | 34 | +13.3% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Wynwood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.3%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 25 | -7.4% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wynwood, you may be able to get a good deal. 76% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Wynwood in March 2024, down by 7.4% month-over-month. Of the 25 sold homes, 76% were sold under asking, 16% were sold at asking, and 8% were sold over asking.
Days on Market for Wynwood, FL
How long does it take to sell a home in Wynwood, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 83 Days | 91 Days | +9.3% |
Summary: Homes in Wynwood had an average of 91 days on market in Mar 2024, up by 9.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Wynwood are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 25 homes were sold in Wynwood; 28% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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