$10,000 Closing Credit*
$2,199,000
1,425 SqFt
2 Beds
•2 Full Baths, 1 Partial
Dean Bloch, Listing Office: Douglas Elliman
Is South Point, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$1,148/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$332,500(+31.5%)
Key Takeaway
Homes in South Point have sold for 31.5% more than they did a year ago.
Summary: The median home sold price in South Point was $1,389,500 in October 2024, up 31.5% from last year, and the median price per square foot was $1,148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $449.9K | $540K | +20.0% |
| 2 Bedrooms | $1.2M | $1.7M | +44.0% |
| 3 Bedrooms | $3.5M | $3.4M | -0.1% |
| 4 Bedrooms | $5.7M | $11.8M | +108.2% |
| 5+ Bedrooms | $4.7M | $5.5M | +18.0% |
Summary: South Point housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 44%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 108.2%, and 5+ bedroom homes increased by 18%.
Median Sold Price Compared To Nearby Neighborhoods
| South Point | $1.0M | $1.3M | +31.5% |
| Flamingo / Lummus | $290K | $293.2K | +1.1% |
Housing Supply in South Point, FL
How many homes are available in South Point, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 164 | 196 | +19.5% |
Summary: The South Point real estate market had 196 homes for sale in October 2024, a 19.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 62 | 70 | +12.9% |
| 2 Bedrooms | 60 | 79 | +31.7% |
| 3 Bedrooms | 29 | 30 | +3.4% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The South Point housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 31.7%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were 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. 100% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in South Point in October 2024, down by 33.3% month-over-month. Of the 6 sold homes, 100% were sold under asking, 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 79 Days | 41 Days | -48.2% |
Summary: Homes in South Point had an average of 41 days on market in Oct 2024, down by 48.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South Point are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in South Point; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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.