Is Port Malabar, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Port Malabar has remained a Seller's Market.
Key Takeaway
Port Malabar is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Port Malabar, FL
How much do homes in Port Malabar, FL cost?
Median Sold Price
$327,786
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Port Malabar have sold for 0.9% more than they did a year ago.
Summary: The median home sold price in Port Malabar was $327,786 in May 2024, up 0.9% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $121K | $129.2K | +6.8% |
| 2 Bedrooms | $226.5K | $238.9K | +5.5% |
| 3 Bedrooms | $300K | $304.9K | +1.7% |
| 4 Bedrooms | $352.1K | $344.9K | -2.0% |
| 5+ Bedrooms | $398.9K | $397.4K | -0.4% |
Summary: Port Malabar housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 0.4%.
Housing Supply in Port Malabar, FL
How many homes are available in Port Malabar, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,301 | 1,355 | +4.2% |
Summary: The Port Malabar real estate market had 1,355 homes for sale in May 2024, a 4.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 65 | 69 | +6.2% |
| 3 Bedrooms | 640 | 657 | +2.7% |
| 4 Bedrooms | 563 | 589 | +4.6% |
| 5+ Bedrooms | 33 | 38 | +15.2% |
Summary: The Port Malabar housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 15.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 227 | 239 | +5.3% |
Asking Price vs. Sold Price
121 Homes Were Sold
Under Asking
84 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Port Malabar, you may be able to get a good deal. 50.6% of homes here sold below asking price last month.
Summary: A total of 239 homes were sold or pending in Port Malabar in May 2024, up by 5.3% month-over-month. Of the 239 sold homes, 51% were sold under asking, 35% were sold at asking, and 14% were sold over asking.
Days on Market for Port Malabar, FL
How long does it take to sell a home in Port Malabar, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 70 Days | +34.8% |
Summary: Homes in Port Malabar had an average of 70 days on market in May 2024, up by 34.8% compared to last year.
Breakdown of Home Sale Times
113 Homes Were Sold
Under 30 Days
65 Homes Were Sold
In 30 - 90 Days
61 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Port Malabar are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 239 homes were sold in Port Malabar; 47% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
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© 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.