Is Sumter County, 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, Sumter County has remained a Seller's Market.
Key Takeaway
Sumter County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sumter County, FL
How much do homes in Sumter County, FL cost?
Median Sold Price
$355,952
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sumter County have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Sumter County was $355,952 in May 2024, down 1.1% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $171.5K | -23.8% |
| 2 Bedrooms | $300K | $290K | -3.3% |
| 3 Bedrooms | $397.5K | $399.7K | +0.6% |
| 4 Bedrooms | $425K | $379.9K | -10.6% |
| 5+ Bedrooms | $386.9K | $344.9K | -10.9% |
Summary: Sumter County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.8%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes decreased by 10.9%.
Median Sold Price Compared To Nearby Counties
| Hernando County | $315K | $319.9K | +1.6% |
| Marion County | $273.9K | $275K | 0.4% |
| Lake County | $369.9K | $370.3K | 0.1% |
| Citrus County | $279.8K | $278.5K | -0.4% |
| Sumter County | $359.9K | $355.9K | -1.1% |
Housing Supply in Sumter County, FL
How many homes are available in Sumter County, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 843 | 851 | +0.9% |
Summary: The Sumter County real estate market had 851 homes for sale in May 2024, a 0.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 9 | +28.6% |
| 2 Bedrooms | 227 | 238 | +4.8% |
| 3 Bedrooms | 530 | 531 | 0.2% |
| 4 Bedrooms | 67 | 64 | -4.5% |
| 5+ Bedrooms | 12 | 9 | -25.0% |
Summary: The Sumter County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 195 | 153 | -21.5% |
Asking Price vs. Sold Price
124 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sumter County, you may be able to get a good deal. 81% of homes here sold below asking price last month.
Summary: A total of 153 homes were sold or pending in Sumter County in May 2024, down by 21.5% month-over-month. Of the 153 sold homes, 81% were sold under asking, 14% were sold at asking, and 5% were sold over asking.
Days on Market for Sumter County, FL
How long does it take to sell a home in Sumter County, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 64 Days | +15.8% |
Summary: Homes in Sumter County had an average of 64 days on market in May 2024, up by 15.8% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
41 Homes Were Sold
In 30 - 90 Days
39 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sumter County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 153 homes were sold in Sumter County; 48% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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