Is Bay Harbor Islands, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Bay Harbor Islands was a Seller's Market.
Key Takeaway
Bay Harbor Islands is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bay Harbor Islands, FL
How much do homes in Bay Harbor Islands, FL cost?
Median Sold Price
$710,000
$531/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bay Harbor Islands have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Bay Harbor Islands was $710,000 in May 2024, up 10.9% from last year, and the median price per square foot was $531.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $370K | +19.4% |
| 2 Bedrooms | $650K | $710K | +9.2% |
| 3 Bedrooms | $950K | $1.7M | +78.9% |
| 4 Bedrooms | $2.1M | $2.6M | +21.4% |
| 5+ Bedrooms | $5.0M | $7.5M | +50.0% |
Summary: Bay Harbor Islands housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.4%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 78.9%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 50%.
Median Sold Price Compared To Nearby Cities
| Bay Harbor Islands | $640K | $710K | +10.9% |
| Surfside | $1.2M | $1.3M | +7.9% |
| Bal Harbour | $1.5M | $1.6M | +2.3% |
Housing Supply in Bay Harbor Islands, FL
How many homes are available in Bay Harbor Islands, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 126 | 136 | +7.9% |
Summary: The Bay Harbor Islands real estate market had 136 homes for sale in May 2024, a 7.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 21 | -12.5% |
| 2 Bedrooms | 61 | 68 | +11.5% |
| 3 Bedrooms | 20 | 22 | +10.0% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Bay Harbor Islands housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
10 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 Bay Harbor Islands, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Bay Harbor Islands in May 2024, down by 20.0% month-over-month. Of the 12 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for Bay Harbor Islands, FL
How long does it take to sell a home in Bay Harbor Islands, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 111 Days | 92 Days | -17.1% |
Summary: Homes in Bay Harbor Islands had an average of 92 days on market in May 2024, down by 17.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bay Harbor Islands has remained consistent over time.
Summary: During May 2024, 12 homes were sold in Bay Harbor Islands; 17% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.
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