Is Palmetto, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Palmetto has remained a Seller's Market.
Housing Prices in Palmetto, FL
How much do homes in Palmetto, FL cost?
Median Sold Price
$396,096
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palmetto was $396,096 in April 2024, down 1% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $70K | $97K | +38.6% |
2 Bedrooms | $300.4K | $320.5K | +6.7% |
3 Bedrooms | $395.4K | $375K | -5.2% |
4 Bedrooms | $469.4K | $424.2K | -9.6% |
5+ Bedrooms | $627.5K | $430.9K | -31.3% |
Summary: Palmetto housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.6%, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes decreased by 31.3%.
Median Sold Price Compared To Nearby Cities
Palmetto | $400K | $396K | -1.0% |
Ellenton | $406.2K | $369.7K | -9.0% |
Housing Supply in Palmetto, FL
How many homes are available in Palmetto, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
534 | 511 | -4.3% |
Summary: The Palmetto real estate market had 511 homes for sale in April 2024, a 4.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 7 | -22.2% |
2 Bedrooms | 108 | 105 | -2.8% |
3 Bedrooms | 243 | 239 | -1.6% |
4 Bedrooms | 140 | 126 | -10.0% |
5+ Bedrooms | 34 | 34 | 0.0% |
Summary: The Palmetto housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
101 | 91 | -9.9% |
Asking Price vs. Sold Price
48 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 91 homes were sold or pending in Palmetto in April 2024, down by 9.9% month-over-month. Of the 91 sold homes, 53% were sold under asking, 36% were sold at asking, and 11% were sold over asking.
Days on Market for Palmetto, FL
How long does it take to sell a home in Palmetto, FL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
46 Days | 71 Days | +53.9% |
Summary: Homes in Palmetto had an average of 71 days on market in Apr 2024, up by 53.9% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Summary: During April 2024, 91 homes were sold in Palmetto; 40% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.