Is Ocean Ridge, 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, Ocean Ridge was a Seller's Market.
Key Takeaway
Ocean Ridge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ocean Ridge, FL
How much do homes in Ocean Ridge, FL cost?
Median Sold Price
$1,637,500
$769/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ocean Ridge have sold for 31% more than they did a year ago.
Summary: The median home sold price in Ocean Ridge was $1,637,500 in May 2024, up 31% from last year, and the median price per square foot was $769.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $305K | +41.9% |
| 2 Bedrooms | $469.9K | $672.5K | +43.1% |
| 3 Bedrooms | $1.7M | $2.2M | +34.0% |
| 4 Bedrooms | $2.9M | $3.8M | +30.7% |
| 5+ Bedrooms | $4.7M | $5.5M | +17.6% |
Summary: Ocean Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.9%, 2 bedroom homes increased by 43.1%, 3 bedroom homes increased by 34%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Cities
| Ocean Ridge | $1.2M | $1.6M | +31.0% |
| Boynton Beach | $382.4K | $411.6K | +7.6% |
| Boynton Beach-Delray Beach | $375.7K | $391.3K | +4.1% |
Housing Supply in Ocean Ridge, FL
How many homes are available in Ocean Ridge, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 51 | -7.3% |
Summary: The Ocean Ridge real estate market had 51 homes for sale in May 2024, a 7.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 16 | 15 | -6.3% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Ocean Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocean Ridge, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Ocean Ridge in May 2024, down by 28.6% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Ocean Ridge, FL
How long does it take to sell a home in Ocean Ridge, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 41 Days | +50.5% |
Summary: Homes in Ocean Ridge had an average of 41 days on market in May 2024, up by 50.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ocean Ridge has remained consistent over time.
Summary: During May 2024, 5 homes were sold in Ocean Ridge; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% 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.