$9,488 Closing Credit*
$799,000
3,865 SqFt
5 Beds
•3 Full Baths
Melissa Bianca, Listing Office: Levin Rinke Realty
Is Wallace, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Wallace was a Neutral 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
$502,890
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$2,940(+0.6%)
Key Takeaway
Homes in Wallace have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in Wallace was $502,890 in November 2024, up 0.6% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $358K | N/A |
| 2 Bedrooms | $200K | $245K | +22.5% |
| 3 Bedrooms | $355K | $352.8K | -0.6% |
| 4 Bedrooms | $536.9K | $520K | -3.2% |
| 5+ Bedrooms | $626K | $645K | +3.0% |
Summary: Wallace housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.5%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Neighborhoods
| Buffalo Mill Creek | $389.9K | $410K | +5.2% |
| Wallace | $499.9K | $502.8K | +0.6% |
Housing Supply in Wallace, FL
How many homes are available in Wallace, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 34 | -2.9% |
Summary: The Wallace real estate market had 34 homes for sale in November 2024, a 2.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Wallace housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was 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 November 2024, up by 16.7% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 76 Days | +53.2% |
Summary: Homes in Wallace had an average of 76 days on market in Nov 2024, up by 53.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wallace are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Wallace; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
Information Deemed Reliable but not guaranteed. The information being provided is 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. All listings are provided courtesy of the Emerald Coast Association of Realtors, Copyright 2024. All rights reserved.