Is South Westside, 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, South Westside has remained a Seller's Market.
Key Takeaway
South Westside is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Westside, FL
How much do homes in South Westside, FL cost?
Median Sold Price
$654,722
$381/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Westside have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in South Westside was $654,722 in May 2024, up 9.1% from last year, and the median price per square foot was $381.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $173.7K | $220K | +26.6% |
| 2 Bedrooms | $365K | $315K | -13.7% |
| 3 Bedrooms | $554.9K | $630K | +13.5% |
| 4 Bedrooms | $662.5K | $710K | +7.2% |
| 5+ Bedrooms | $730K | $788.5K | +8.0% |
Summary: South Westside housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.6%, 2 bedroom homes decreased by 13.7%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 8%.
Median Sold Price Compared To Nearby Cities
| Kendall-Palmetto Bay | $697.9K | $791.2K | +13.4% |
| North Westside | $431.5K | $485.4K | +12.5% |
| South Westside | $599.9K | $654.7K | +9.1% |
Housing Supply in South Westside, FL
How many homes are available in South Westside, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 193 | 203 | +5.2% |
Summary: The South Westside real estate market had 203 homes for sale in May 2024, a 5.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 12 | +9.1% |
| 2 Bedrooms | 16 | 19 | +18.8% |
| 3 Bedrooms | 74 | 75 | +1.4% |
| 4 Bedrooms | 58 | 62 | +6.9% |
| 5+ Bedrooms | 34 | 35 | +2.9% |
Summary: The South Westside housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 2.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 41 | +7.9% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Westside, you may be able to get a good deal. 65.9% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in South Westside in May 2024, up by 7.9% month-over-month. Of the 41 sold homes, 66% were sold under asking, 12% were sold at asking, and 22% were sold over asking.
Days on Market for South Westside, FL
How long does it take to sell a home in South Westside, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 32 Days | +21.3% |
Summary: Homes in South Westside had an average of 32 days on market in May 2024, up by 21.3% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Westside are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 41 homes were sold in South Westside; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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