Is West 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, West Park was a Seller's Market.
Key Takeaway
West Park 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 West Park, FL
How much do homes in West Park, FL cost?
Median Sold Price
$430,000
$344/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Park have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in West Park was $430,000 in May 2024, up 13.2% from last year, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $340K | +7.9% |
| 3 Bedrooms | $375K | $430K | +14.7% |
| 4 Bedrooms | $435K | $490K | +12.6% |
| 5+ Bedrooms | $450K | $515K | +14.4% |
Summary: West 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 increased by 7.9%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 14.4%.
Median Sold Price Compared To Nearby Cities
| West Park | $380K | $430K | +13.2% |
| Miami Gardens | $419.1K | $455.2K | +8.6% |
| Hollywood | $450.1K | $471.4K | +4.7% |
| Hallandale | $325K | $315K | -3.1% |
Housing Supply in West Park, FL
How many homes are available in West Park, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 54 | +8.0% |
Summary: The West Park real estate market had 54 homes for sale in May 2024, a 8.0% 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 | 6 | 7 | +16.7% |
| 3 Bedrooms | 24 | 29 | +20.8% |
| 4 Bedrooms | 17 | 15 | -11.8% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The West 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 increased by 16.7%, 3 bedroom homes increased by 20.8%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Park, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in West Park in May 2024, up by 14.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 38% were sold at asking, and 25% were sold over asking.
Days on Market for West Park, FL
How long does it take to sell a home in West Park, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 52 Days | +50.6% |
Summary: Homes in West Park had an average of 52 days on market in May 2024, up by 50.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in West Park; 50% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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