Is Satellite Beach, 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, Satellite Beach was a Seller's Market.
Key Takeaway
Satellite Beach is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Satellite Beach, FL
How much do homes in Satellite Beach, FL cost?
Median Sold Price
$535,000
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Satellite Beach have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Satellite Beach was $535,000 in May 2024, up 8.1% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $200K | +11.1% |
| 2 Bedrooms | $347.5K | $350K | +0.7% |
| 3 Bedrooms | $480K | $510K | +6.3% |
| 4 Bedrooms | $650K | $672K | +3.4% |
| 5+ Bedrooms | $742.5K | $775K | +4.4% |
Summary: Satellite Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Cities
| Satellite Beach | $494.9K | $535K | +8.1% |
| Indialantic-Melbourne Beach | $530.8K | $549.9K | +3.6% |
| Indian Harbour Beach | $461.2K | $448.2K | -2.8% |
Housing Supply in Satellite Beach, FL
How many homes are available in Satellite Beach, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 156 | 164 | +5.1% |
Summary: The Satellite Beach real estate market had 164 homes for sale in May 2024, a 5.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 21 | 20 | -4.8% |
| 3 Bedrooms | 73 | 84 | +15.1% |
| 4 Bedrooms | 48 | 46 | -4.2% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Satellite Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 15.1%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 24 | -29.4% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Satellite Beach, you may be able to get a good deal. 79.2% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Satellite Beach in May 2024, down by 29.4% month-over-month. Of the 24 sold homes, 79% were sold under asking, 13% were sold at asking, and 8% were sold over asking.
Days on Market for Satellite Beach, FL
How long does it take to sell a home in Satellite Beach, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 67 Days | 46 Days | -31.4% |
Summary: Homes in Satellite Beach had an average of 46 days on market in May 2024, down by 31.4% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Satellite Beach are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 24 homes were sold in Satellite Beach; 46% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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