Is South Bay, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, South Bay was a Neutral Market.
Key Takeaway
South Bay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Bay, FL
How much do homes in South Bay, FL cost?
Median Sold Price
$207,000
$161/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in South Bay have sold for 3.7% less than they did a month ago.
Summary: The median home sold price in South Bay was $207,000 in April 2024, down 3.7% from last month, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $125K | N/A |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | $215K | $289K | +34.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: South Bay housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 34.4%, and 5+ bedroom homes did not change.
Housing Supply in South Bay, FL
How many homes are available in South Bay, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Summary: The South Bay real estate market had 7 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 1 | 3 | +200.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Bay housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Bay, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in South Bay in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for South Bay, FL
How long does it take to sell a home in South Bay, FL?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 Days | 5 Days | -93.0% |
Summary: Homes in South Bay had an average of 5 days on market in Apr 2024, down by 93% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Bay are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in South Bay; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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