Is Inverness, 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, Inverness was a Seller's Market.
Key Takeaway
Inverness is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Inverness, FL
How much do homes in Inverness, FL cost?
Median Sold Price
$249,600
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Inverness have sold for 4% more than they did a year ago.
Summary: The median home sold price in Inverness was $249,600 in May 2024, up 4% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $203K | $189.9K | -6.4% |
| 3 Bedrooms | $253.5K | $265K | +4.5% |
| 4 Bedrooms | $315K | $437.5K | +38.9% |
| 5+ Bedrooms | $322.5K | $425K | +31.8% |
Summary: Inverness housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.4%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 38.9%, and 5+ bedroom homes increased by 31.8%.
Housing Supply in Inverness, FL
How many homes are available in Inverness, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 160 | 168 | +5.0% |
Summary: The Inverness real estate market had 168 homes for sale in May 2024, a 5.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 42 | 42 | 0.0% |
| 3 Bedrooms | 98 | 108 | +10.2% |
| 4 Bedrooms | 19 | 17 | -10.5% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Inverness housing inventory by bedroom type for May 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 10.2%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 21 | -12.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Inverness, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Inverness in May 2024, down by 12.5% month-over-month. Of the 21 sold homes, 57% were sold under asking, 24% were sold at asking, and 19% were sold over asking.
Days on Market for Inverness, FL
How long does it take to sell a home in Inverness, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 60 Days | +101.3% |
Summary: Homes in Inverness had an average of 60 days on market in May 2024, up by 101.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Inverness has remained consistent over time.
Summary: During May 2024, 21 homes were sold in Inverness; 29% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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