Is Bal Harbour, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Bal Harbour has remained a Buyer's Market.
Key Takeaway
Bal Harbour is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bal Harbour, FL
How much do homes in Bal Harbour, FL cost?
Median Sold Price
$1,559,000
$981/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bal Harbour have sold for 12.7% less than they did a year ago.
Summary: The median home sold price in Bal Harbour was $1,559,000 in April 2024, down 12.7% from last year, and the median price per square foot was $981.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $515K | $560K | +8.7% |
| 2 Bedrooms | $1.1M | $1.3M | +16.5% |
| 3 Bedrooms | $2.8M | $3.9M | +36.8% |
| 4 Bedrooms | $4.0M | $7.4M | +83.3% |
| 5+ Bedrooms | $8.2M | - | N/A |
Summary: Bal Harbour housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 36.8%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Surfside | $1.2M | $1.2M | +2.9% |
| Bal Harbour | $1.7M | $1.5M | -12.7% |
Housing Supply in Bal Harbour, FL
How many homes are available in Bal Harbour, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 141 | 156 | +10.6% |
Summary: The Bal Harbour real estate market had 156 homes for sale in April 2024, a 10.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 24 | +26.3% |
| 2 Bedrooms | 63 | 66 | +4.8% |
| 3 Bedrooms | 35 | 42 | +20.0% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Bal Harbour housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.3%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 14 | +75.0% |
Asking Price vs. Sold Price
12 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 Bal Harbour, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Bal Harbour in April 2024, up by 75.0% month-over-month. Of the 14 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for Bal Harbour, FL
How long does it take to sell a home in Bal Harbour, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 94 Days | 71 Days | -24.3% |
Summary: Homes in Bal Harbour had an average of 71 days on market in Apr 2024, down by 24.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bal Harbour are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in Bal Harbour; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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