$5,926 Closing Credit*
$499,000
1,216 SqFt
3 Beds
•1 Full Bath
Alexander Virelles, Listing Office: Exclusive Premier Realty
Is Tropical Ridge, 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, Tropical Ridge has remained a Seller's Market.
Key Takeaway
Tropical Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tropical Ridge, FL
How much do homes in Tropical Ridge, FL cost?
Median Sold Price
$350,000
$319/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$50,000(+16.7%)
Key Takeaway
Homes in Tropical Ridge have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in Tropical Ridge was $350,000 in November 2024, up 16.7% from last year, and the median price per square foot was $319.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $255K | $295K | +15.7% |
| 2 Bedrooms | $262K | $330K | +26.0% |
| 3 Bedrooms | $380K | $389K | +2.4% |
| 4 Bedrooms | $507.5K | $395K | -22.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: Tropical Ridge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.7%, 2 bedroom homes increased by 26%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Tropical Ridge | $300K | $350K | +16.7% |
| Sunset Ridge | $435K | $452.5K | +4.0% |
| Mango Groves | $411.5K | $387K | -6.0% |
Housing Supply in Tropical Ridge, FL
How many homes are available in Tropical Ridge, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 21 | +10.5% |
Summary: The Tropical Ridge real estate market had 21 homes for sale in November 2024, a 10.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Tropical Ridge housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 12.5%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Tropical Ridge, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Tropical Ridge in November 2024, up by 300.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Tropical Ridge, FL
How long does it take to sell a home in Tropical Ridge, FL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 29 Days | +8.7% |
Summary: Homes in Tropical Ridge had an average of 29 days on market in Nov 2024, up by 8.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Tropical Ridge has remained consistent over time.
Summary: During November 2024, 4 homes were sold in Tropical Ridge; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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© 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.