$5,676 Closing Credit*
$478,000
1,712 SqFt
4 Beds
•3 Full Baths
Karl Fong Yee, Listing Office: The Keyes Company
Is Lakes by the Bay, 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, Lakes by the Bay was a Seller's Market.
Key Takeaway
Lakes by the Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lakes by the Bay, FL
How much do homes in Lakes by the Bay, FL cost?
Median Sold Price
$500,000
$292/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,000(+6.4%)
Key Takeaway
Homes in Lakes by the Bay have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Lakes by the Bay was $500,000 in October 2024, up 6.4% from last year, and the median price per square foot was $292.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242K | $225K | -7.0% |
| 2 Bedrooms | $274K | $329K | +20.1% |
| 3 Bedrooms | $430K | $480K | +11.6% |
| 4 Bedrooms | $589K | $650K | +10.4% |
| 5+ Bedrooms | $600K | $675K | +12.5% |
Summary: Lakes by the Bay housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7%, 2 bedroom homes increased by 20.1%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Lakes by the Bay | $470K | $500K | +6.4% |
| The Isles at Bayshore | $413K | $430K | +4.1% |
Housing Supply in Lakes by the Bay, FL
How many homes are available in Lakes by the Bay, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 75 | 71 | -5.3% |
Summary: The Lakes by the Bay real estate market had 71 homes for sale in October 2024, a 5.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 12 | 8 | -33.3% |
| 3 Bedrooms | 36 | 35 | -2.8% |
| 4 Bedrooms | 20 | 22 | +10.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Lakes by the Bay housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakes by the Bay, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Lakes by the Bay in October 2024, down by 46.7% month-over-month. Of the 8 sold homes, 63% were sold under asking, 38% were sold at asking, and 0% were sold over asking.
Days on Market for Lakes by the Bay, FL
How long does it take to sell a home in Lakes by the Bay, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 35 Days | +31.2% |
Summary: Homes in Lakes by the Bay had an average of 35 days on market in Oct 2024, up by 31.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lakes by the Bay are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Lakes by the Bay; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
© 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.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc.