Is Granada, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Granada was a Seller's Market.
Key Takeaway
Granada is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Granada, FL
How much do homes in Granada, FL cost?
Median Sold Price
$1,550,000
$762/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Granada have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Granada was $1,550,000 in May 2024, up 6.6% from last year, and the median price per square foot was $762.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $291K | -7.6% |
| 2 Bedrooms | $740K | $782.5K | +5.7% |
| 3 Bedrooms | $1.3M | $1.4M | +5.9% |
| 4 Bedrooms | $2.2M | $2.2M | -2.0% |
| 5+ Bedrooms | $3.4M | $3.6M | +4.0% |
Summary: Granada housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.6%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Neighborhoods
| Coral Gables Riviera | $1.4M | $1.7M | +16.3% |
| South Gables | $1.4M | $1.7M | +15.1% |
| Coral Gables Granada | $1.2M | $1.3M | +8.3% |
| Granada | $1.4M | $1.5M | +6.6% |
| Biltmore | $1.9M | $1.7M | -7.8% |
Housing Supply in Granada, FL
How many homes are available in Granada, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 121 | 145 | +19.8% |
Summary: The Granada real estate market had 145 homes for sale in May 2024, a 19.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 10 | +25.0% |
| 2 Bedrooms | 19 | 23 | +21.1% |
| 3 Bedrooms | 36 | 43 | +19.4% |
| 4 Bedrooms | 36 | 44 | +22.2% |
| 5+ Bedrooms | 22 | 25 | +13.6% |
Summary: The Granada housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 21.1%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 13.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 19 | +26.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Granada, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Granada in May 2024, up by 26.7% month-over-month. Of the 19 sold homes, 63% were sold under asking, 16% were sold at asking, and 21% were sold over asking.
Days on Market for Granada, FL
How long does it take to sell a home in Granada, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 57 Days | 42 Days | -25.3% |
Summary: Homes in Granada had an average of 42 days on market in May 2024, down by 25.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Granada are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Granada; 53% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.