Is North Bay Village, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, North Bay Village was a Neutral Market.
Key Takeaway
North Bay Village is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Bay Village, FL
How much do homes in North Bay Village, FL cost?
Median Sold Price
$442,500
$416/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North Bay Village have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in North Bay Village was $442,500 in April 2024, up 2.9% from last year, and the median price per square foot was $416.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $248.7K | $271.7K | +9.2% |
| 2 Bedrooms | $475K | $458K | -3.6% |
| 3 Bedrooms | $875K | $890K | +1.7% |
| 4 Bedrooms | $2.0M | $1.2M | -37.0% |
| 5+ Bedrooms | - | $1.6M | N/A |
Summary: North Bay Village housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 37%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Miami Beach | $525K | $590.2K | +12.4% |
| North Bay Village | $430K | $442.5K | +2.9% |
Housing Supply in North Bay Village, FL
How many homes are available in North Bay Village, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 105 | 112 | +6.7% |
Summary: The North Bay Village real estate market had 112 homes for sale in April 2024, a 6.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 24 | +4.3% |
| 2 Bedrooms | 53 | 55 | +3.8% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The North Bay Village housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
11 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 North Bay Village, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in North Bay Village in April 2024, up by 37.5% month-over-month. Of the 11 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for North Bay Village, FL
How long does it take to sell a home in North Bay Village, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 75 Days | 92 Days | +22.3% |
Summary: Homes in North Bay Village had an average of 92 days on market in Apr 2024, up by 22.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in North Bay Village are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 11 homes were sold in North Bay Village; 27% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.
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