Is Biscayne Park, 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, Biscayne Park was a Seller's Market.
Key Takeaway
Biscayne Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Biscayne Park, FL
How much do homes in Biscayne Park, FL cost?
Median Sold Price
$990,000
$626/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Biscayne Park have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Biscayne Park was $990,000 in May 2024, up 3.9% from last year, and the median price per square foot was $626.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $595K | N/A |
| 2 Bedrooms | $817.5K | $790K | -3.4% |
| 3 Bedrooms | $897.5K | $990K | +10.3% |
| 4 Bedrooms | $1.3M | $1.4M | +4.5% |
| 5+ Bedrooms | $2.0M | $2.1M | +2.7% |
Summary: Biscayne Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 2.7%.
Median Sold Price Compared To Nearby Cities
| North Miami | $360K | $400K | +11.1% |
| Miami Shores | $1.0M | $1.0M | +7.9% |
| Biscayne Park | $952.5K | $990K | +3.9% |
Housing Supply in Biscayne Park, FL
How many homes are available in Biscayne Park, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 30 | +3.4% |
Summary: The Biscayne Park real estate market had 30 homes for sale in May 2024, a 3.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Biscayne Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
2 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 Biscayne Park, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Biscayne Park in May 2024, down by 40.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Biscayne Park, FL
How long does it take to sell a home in Biscayne Park, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 44 Days | -9.6% |
Summary: Homes in Biscayne Park had an average of 44 days on market in May 2024, down by 9.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Biscayne Park has remained consistent over time.
Summary: During May 2024, 3 homes were sold in Biscayne Park; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
© 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.