Is North Bay Village, 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, North Bay Village was a Seller's Market.
Housing Prices in North Bay Village, FL
How much do homes in North Bay Village, FL cost?
Median Sold Price
$447,500
$412/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in North Bay Village was $447,500 in May 2024, up 3.2% from last year, and the median price per square foot was $412.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $250K | $279K | +11.6% |
2 Bedrooms | $480K | $458K | -4.6% |
3 Bedrooms | $875K | $880K | +0.6% |
4 Bedrooms | $1.6M | $1.2M | -27.3% |
5+ Bedrooms | - | $1.6M | N/A |
Summary: North Bay Village housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes decreased by 4.6%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Miami Beach | $524.9K | $602.8K | +14.8% |
North Bay Village | $433.8K | $447.5K | +3.2% |
Housing Supply in North Bay Village, FL
How many homes are available in North Bay Village, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
109 | 118 | +8.3% |
Summary: The North Bay Village real estate market had 118 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 23 | 23 | 0.0% |
2 Bedrooms | 53 | 59 | +11.3% |
3 Bedrooms | 24 | 25 | +4.2% |
4 Bedrooms | 4 | 6 | +50.0% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The North Bay Village 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 increased by 11.3%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 14 | -6.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in North Bay Village in May 2024, down by 6.7% month-over-month. Of the 14 sold homes, 93% were sold under asking, 7% were sold at asking, and 0% were sold over asking.
Days on Market for North Bay Village, FL
How long does it take to sell a home in North Bay Village, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
92 Days | 84 Days | -9.1% |
Summary: Homes in North Bay Village had an average of 84 days on market in May 2024, down by 9.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in North Bay Village; 14% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.