Is City Center, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing City Center is a buyer's market

Buyer's
Market

Difference Since April 2023

At the same time last year, City Center was a Seller's Market.

Key Takeaway

City Center is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in City Center, FL

How much do homes in City Center, FL cost?

Median Sold Price

$550,000

$658/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since April 2023.

Key Takeaway

The sold price of homes in City Center has remained the same since last year.

Summary: The median home sold price in City Center was $550,000 in April 2024, the same as last year, and the median price per square foot was $658.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $393.5K$413.7K
+5.1%
2 $895K$1.2M
+34.1%
3 $3.9M$5.3M
+34.8%
4 --
N/A
5+ --
N/A

Summary: City Center housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.1%, 2 bedroom homes increased by 34.1%, 3 bedroom homes increased by 34.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Bayshore
+37.5%
Ocean Front
+4.8%
Flamingo / Lummus
+4.1%
City Center
0.0%

Housing Supply in City Center, FL

How many homes are available in City Center, FL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
140152+8.6%

Summary: The City Center real estate market had 152 homes for sale in April 2024, a 8.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 6776
+13.4%
2 6062
+3.3%
3 1313
0.0%
4 01
+100.0%
5+ 00
0.0%

Summary: The City Center housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 3.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
69+50.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in City Center, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in City Center in April 2024, up by 50.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.

Days on Market for City Center, FL

How long does it take to sell a home in City Center, FL?

Average Sale Time

Apr 2023Apr 2024CHANGE
96 Days89 Days-7.0%

Summary: Homes in City Center had an average of 89 days on market in Apr 2024, down by 7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in City Center are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During April 2024, 9 homes were sold in City Center; 22% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 44% 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 Apr 1, 2024

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