$650,000
15.09 Acres
Land
Becky Aultman, Listing Office: DEWISE REALTY, L L C
Is Wallace, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, Wallace was a Buyer's Market.
Key Takeaway
Wallace is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wallace, FL
How much do homes in Wallace, FL cost?
Median Sold Price
$504,900
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$9,063(+1.8%)
Key Takeaway
Homes in Wallace have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Wallace was $504,900 in August 2024, up 1.8% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $245K | +53.1% |
| 3 Bedrooms | $364.8K | $350K | -4.1% |
| 4 Bedrooms | $536.9K | $525K | -2.2% |
| 5+ Bedrooms | $626K | $605K | -3.4% |
Summary: Wallace housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 53.1%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes decreased by 3.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Buffalo Mill Creek | $400.3K | $410K | +2.4% |
| Wallace | $495.8K | $504.9K | +1.8% |
| Cottage Hill | $299.9K | $279.9K | -6.7% |
Housing Supply in Wallace, FL
How many homes are available in Wallace, FL?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 34 | 27 | -20.6% |
Summary: The Wallace real estate market had 27 homes for sale in August 2024, a 20.6% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 17 | 16 | -5.9% |
| 5+ Bedrooms | 8 | 5 | -37.5% |
Summary: The Wallace housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 37.5%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wallace, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Wallace in August 2024, down by 36.4% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% were sold at asking, and 0% were sold over asking.
Days on Market for Wallace, FL
How long does it take to sell a home in Wallace, FL?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 50 Days | 39 Days | -23.2% |
Summary: Homes in Wallace had an average of 39 days on market in Aug 2024, down by 23.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wallace are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 7 homes were sold in Wallace; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
