Is Port Salerno-Hobe Sound, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Port Salerno-Hobe Sound is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Port Salerno-Hobe Sound was a Seller's Market.

Key Takeaway

Port Salerno-Hobe Sound is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Port Salerno-Hobe Sound, FL

How much do homes in Port Salerno-Hobe Sound, FL cost?

Median Sold Price

$498,812

$287/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$23,837(+5.0%)

Key Takeaway

Homes in Port Salerno-Hobe Sound have sold for 5% more than they did a year ago.

Summary: The median home sold price in Port Salerno-Hobe Sound was $498,812 in November 2024, up 5% from last year, and the median price per square foot was $287.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $188K$178.7K
-4.9%
2 $301.3K$300.6K
-0.2%
3 $540.9K$540K
-0.2%
4 $872.5K$822K
-5.8%
5+ $3.4M$3.0M
-11.8%

Summary: Port Salerno-Hobe Sound housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.9%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes decreased by 11.8%.

Median Sold Price Compared To Nearby Cities

Sewall's Point
+31.5%
Port Salerno-Hobe Sound
+5.0%
Stuart
+2.7%
Hobe Sound
-7.0%

Housing Supply in Port Salerno-Hobe Sound, FL

How many homes are available in Port Salerno-Hobe Sound, FL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
513571+11.3%

Summary: The Port Salerno-Hobe Sound real estate market had 571 homes for sale in November 2024, a 11.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1110
-9.1%
2 140153
+9.3%
3 207230
+11.1%
4 103118
+14.6%
5+ 5260
+15.4%

Summary: The Port Salerno-Hobe Sound housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.1%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 15.4%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
7155-22.5%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Port Salerno-Hobe Sound, you may be able to get a good deal. 83.6% of homes here sold below asking price last month.

Summary: A total of 55 homes were sold or pending in Port Salerno-Hobe Sound in November 2024, down by 22.5% month-over-month. Of the 55 sold homes, 84% were sold under asking, 11% were sold at asking, and 5% were sold over asking.

Days on Market for Port Salerno-Hobe Sound, FL

How long does it take to sell a home in Port Salerno-Hobe Sound, FL?

Average Sale Time

Nov 2023Nov 2024CHANGE
39 Days53 Days+35.0%

Summary: Homes in Port Salerno-Hobe Sound had an average of 53 days on market in Nov 2024, up by 35% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Port Salerno-Hobe Sound are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 55 homes were sold in Port Salerno-Hobe Sound; 55% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 20% 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 17 Days Ago

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