Is Homestead, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homestead is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Homestead was a Seller's Market.

Key Takeaway

Homestead is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Homestead, FL

How much do homes in Homestead, FL cost?

Median Sold Price

$468,680

$272/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$34,346(+7.9%)

Key Takeaway

Homes in Homestead have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in Homestead was $468,680 in November 2024, up 7.9% from last year, and the median price per square foot was $272.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $219.2K$210K
-4.2%
2 $250K$280K
+12.0%
3 $410K$430.2K
+4.9%
4 $500K$536.7K
+7.4%
5+ $580K$605K
+4.3%

Summary: Homestead housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 4.3%.

Median Sold Price Compared To Nearby Cities

Princeton-Goulds
+10.0%
Everglades
+9.3%
Florida City
+8.0%
Homestead
+7.9%

Housing Supply in Homestead, FL

How many homes are available in Homestead, FL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1,2731,2730.0%

Summary: The Homestead real estate market had 1,273 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 76
-14.3%
2 99106
+7.1%
3 585597
+2.1%
4 444419
-5.6%
5+ 138145
+5.1%

Summary: The Homestead housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 5.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
175110-37.1%

Asking Price vs. Sold Price

56 Homes Were Sold
Under Asking

41 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homestead, you may be able to get a good deal. 50.9% of homes here sold below asking price last month.

Summary: A total of 110 homes were sold or pending in Homestead in November 2024, down by 37.1% month-over-month. Of the 110 sold homes, 51% were sold under asking, 37% were sold at asking, and 12% were sold over asking.

Days on Market for Homestead, FL

How long does it take to sell a home in Homestead, FL?

Average Sale Time

Nov 2023Nov 2024CHANGE
39 Days58 Days+47.4%

Summary: Homes in Homestead had an average of 58 days on market in Nov 2024, up by 47.4% compared to last year.

Breakdown of Home Sale Times

48 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

28 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Homestead are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 110 homes were sold in Homestead; 44% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Homestead, FL

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