$7,184 Closing Credit*
$605,000
2,017 SqFt
3 Beds
•2 Full Baths
Anthony Orrico, Listing Office: Loggerhead Realty Inc
Is Hobe Sound, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Hobe Sound was a Seller's Market.
Key Takeaway
Hobe Sound 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 Hobe Sound, FL
How much do homes in Hobe Sound, FL cost?
Median Sold Price
$498,500
$294/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$47,700(-8.7%)
Key Takeaway
Homes in Hobe Sound have sold for 8.7% less than they did a year ago.
Summary: The median home sold price in Hobe Sound was $498,500 in October 2024, down 8.7% from last year, and the median price per square foot was $294.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $443K | $200K | -54.9% |
| 2 Bedrooms | $350K | $331.8K | -5.2% |
| 3 Bedrooms | $605K | $595K | -1.7% |
| 4 Bedrooms | $845K | $995K | +17.8% |
| 5+ Bedrooms | $5.7M | $1.9M | -66.3% |
Summary: Hobe Sound housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.9%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes decreased by 66.3%.
Median Sold Price Compared To Nearby Cities
| Indiantown | $670K | $720K | +7.5% |
| Port Salerno-Hobe Sound | $469.8K | $499.9K | +6.4% |
| Hobe Sound | $546.2K | $498.5K | -8.7% |
Housing Supply in Hobe Sound, FL
How many homes are available in Hobe Sound, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 152 | 167 | +9.9% |
Summary: The Hobe Sound real estate market had 167 homes for sale in October 2024, a 9.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 49 | 50 | +2.0% |
| 3 Bedrooms | 60 | 70 | +16.7% |
| 4 Bedrooms | 31 | 34 | +9.7% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Hobe Sound housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 24 | +14.3% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hobe Sound, 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 Hobe Sound in October 2024, up by 14.3% month-over-month. Of the 24 sold homes, 79% were sold under asking, 4% were sold at asking, and 17% were sold over asking.
Days on Market for Hobe Sound, FL
How long does it take to sell a home in Hobe Sound, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 47 Days | 56 Days | +18.8% |
Summary: Homes in Hobe Sound had an average of 56 days on market in Oct 2024, up by 18.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hobe Sound are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in Hobe Sound; 54% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.