$2,957 Closing Credit*
$249,000
440 SqFt
Studio
•1 Full Bath
M. Araceli Kaba, Listing Office: Smart Luxe
Is South Point, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, South Point has remained a Buyer's Market.
Key Takeaway
South Point is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Point, FL
How much do homes in South Point, FL cost?
Median Sold Price
$1,389,500
$1,155/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$323,750(+30.4%)
Key Takeaway
Homes in South Point have sold for 30.4% more than they did a year ago.
Summary: The median home sold price in South Point was $1,389,500 in November 2024, up 30.4% from last year, and the median price per square foot was $1,155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $449.9K | $545K | +21.1% |
| 2 Bedrooms | $1.3M | $1.7M | +23.4% |
| 3 Bedrooms | $3.6M | $3.0M | -16.7% |
| 4 Bedrooms | $5.7M | $10.0M | +75.3% |
| 5+ Bedrooms | $4.7M | $5.5M | +18.0% |
Summary: South Point housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.1%, 2 bedroom homes increased by 23.4%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 75.3%, and 5+ bedroom homes increased by 18%.
Median Sold Price Compared To Nearby Neighborhoods
| South Point | $1.0M | $1.3M | +30.4% |
| Flamingo / Lummus | $295K | $290K | -1.7% |
Housing Supply in South Point, FL
How many homes are available in South Point, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 185 | 217 | +17.3% |
Summary: The South Point real estate market had 217 homes for sale in November 2024, a 17.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 65 | 76 | +16.9% |
| 2 Bedrooms | 77 | 92 | +19.5% |
| 3 Bedrooms | 27 | 31 | +14.8% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The South Point housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.9%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 14 | +100.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Point, you may be able to get a good deal. 92.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in South Point in November 2024, up by 100.0% month-over-month. Of the 14 sold homes, 93% were sold under asking, 7% were sold at asking, and 0% were sold over asking.
Days on Market for South Point, FL
How long does it take to sell a home in South Point, FL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 70 Days | 93 Days | +31.9% |
Summary: Homes in South Point had an average of 93 days on market in Nov 2024, up by 31.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Point has remained consistent over time.
Summary: During November 2024, 14 homes were sold in South Point; 21% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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