Is Redbay, 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, Redbay was a Seller's Market.
Housing Prices in Redbay, FL
How much do homes in Redbay, FL cost?
Median Sold Price
$265,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Redbay was $265,000 in May 2024, up 1.9% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $265K | N/A |
2 Bedrooms | $278.2K | $182.4K | -34.4% |
3 Bedrooms | $288.5K | $309K | +7.1% |
4 Bedrooms | $258.4K | $262.4K | +1.5% |
5+ Bedrooms | $291.9K | $319.9K | +9.6% |
Summary: Redbay 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 34.4%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
Ponce de Leon | $300K | $312K | +4.0% |
Redbay | $259.9K | $265K | +1.9% |
Defuniak Springs | $253.2K | $257.9K | +1.9% |
De Funiak Springs | $247.4K | $248.9K | +0.6% |
Ponce De Leon | $320K | $312K | -2.5% |
Housing Supply in Redbay, FL
How many homes are available in Redbay, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 12 | -25.0% |
Summary: The Redbay real estate market had 12 homes for sale in May 2024, a 25.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 4 | 3 | -25.0% |
4 Bedrooms | 7 | 4 | -42.9% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Redbay 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 2 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Redbay in May 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Redbay, FL
How long does it take to sell a home in Redbay, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
135 Days | 15 Days | -88.5% |
Summary: Homes in Redbay had an average of 15 days on market in May 2024, down by 88.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Redbay; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.