Is Cutler Bay, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cutler Bay has remained a Seller's Market.
Housing Prices in Cutler Bay, FL
How much do homes in Cutler Bay, FL cost?
Median Sold Price
$557,800
$308/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cutler Bay was $557,800 in May 2024, up 9.4% from last year, and the median price per square foot was $308.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $183.5K | $192K | +4.6% |
2 Bedrooms | $255.2K | $275K | +7.7% |
3 Bedrooms | $475K | $525K | +10.5% |
4 Bedrooms | $575.4K | $647K | +12.4% |
5+ Bedrooms | $830K | $837.5K | +0.9% |
Summary: Cutler Bay housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.6%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Cities
Kendall-Palmetto Bay | $697.9K | $791.2K | +13.4% |
Palmetto Bay | $980K | $1.0M | +11.1% |
Princeton-Goulds | $464.8K | $515K | +10.8% |
Cutler Bay | $510K | $557.8K | +9.4% |
Housing Supply in Cutler Bay, FL
How many homes are available in Cutler Bay, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
232 | 240 | +3.4% |
Summary: The Cutler Bay real estate market had 240 homes for sale in May 2024, a 3.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 2 | -50.0% |
2 Bedrooms | 26 | 26 | 0.0% |
3 Bedrooms | 101 | 97 | -4.0% |
4 Bedrooms | 65 | 74 | +13.8% |
5+ Bedrooms | 36 | 41 | +13.9% |
Summary: The Cutler Bay housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 13.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 41 | -24.1% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Cutler Bay in May 2024, down by 24.1% month-over-month. Of the 41 sold homes, 59% were sold under asking, 22% were sold at asking, and 20% were sold over asking.
Days on Market for Cutler Bay, FL
How long does it take to sell a home in Cutler Bay, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
45 Days | 53 Days | +18.4% |
Summary: Homes in Cutler Bay had an average of 53 days on market in May 2024, up by 18.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 41 homes were sold in Cutler Bay; 39% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.