Is Opa-locka, 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, Opa-locka was a Seller's Market.
Key Takeaway
Opa-locka is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Opa-locka, FL
How much do homes in Opa-locka, FL cost?
Median Sold Price
$387,500
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Opa-locka have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Opa-locka was $387,500 in May 2024, up 16.5% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157K | $170K | +8.3% |
| 2 Bedrooms | $290K | $315K | +8.6% |
| 3 Bedrooms | $351K | $402.5K | +14.7% |
| 4 Bedrooms | $380K | $455K | +19.7% |
| 5+ Bedrooms | $476.2K | $535K | +12.3% |
Summary: Opa-locka housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 12.3%.
Median Sold Price Compared To Nearby Cities
| Opa-locka | $332.5K | $387.5K | +16.5% |
| North Miami | $360K | $400K | +11.1% |
| Hialeah | $409.3K | $450.7K | +10.1% |
| Miami Gardens | $419.1K | $455.2K | +8.6% |
Housing Supply in Opa-locka, FL
How many homes are available in Opa-locka, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 31 | -3.1% |
Summary: The Opa-locka real estate market had 31 homes for sale in May 2024, a 3.1% decrease 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 | 11 | 8 | -27.3% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Opa-locka 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 27.3%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Opa-locka, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Opa-locka in May 2024, down by 37.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Opa-locka, FL
How long does it take to sell a home in Opa-locka, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 30 Days | +50.8% |
Summary: Homes in Opa-locka had an average of 30 days on market in May 2024, up by 50.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Opa-locka are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Opa-locka; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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The data relating to real estate for sale on this website comes in part from the Southwest Florida Multiple Listing Service. 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. Information has not been verified, is not guaranteed, and is subject to change. Real estate listings held by other brokerage firms other are marked with the IDX logo and detailed information about them includes the name of the listing brokers.