Is Okeechobee, 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, Okeechobee was a Seller's Market.
Key Takeaway
Okeechobee 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 Okeechobee, FL
How much do homes in Okeechobee, FL cost?
Median Sold Price
$255,000
$181/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Okeechobee has remained the same since last year.
Summary: The median home sold price in Okeechobee was $255,000 in May 2024, the same as last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $72.5K | $82.7K | +14.1% |
| 2 Bedrooms | $167.7K | $165K | -1.6% |
| 3 Bedrooms | $270K | $274.9K | +1.8% |
| 4 Bedrooms | $289.9K | $295K | +1.8% |
| 5+ Bedrooms | $395K | $349K | -11.6% |
Summary: Okeechobee housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.1%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 11.6%.
Housing Supply in Okeechobee, FL
How many homes are available in Okeechobee, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 255 | 241 | -5.5% |
Summary: The Okeechobee real estate market had 241 homes for sale in May 2024, a 5.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 15 | -21.1% |
| 2 Bedrooms | 58 | 58 | 0.0% |
| 3 Bedrooms | 134 | 127 | -5.2% |
| 4 Bedrooms | 33 | 29 | -12.1% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Okeechobee housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 21.1%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5.2%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 40 | -20.0% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Okeechobee, you may be able to get a good deal. 90% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in Okeechobee in May 2024, down by 20.0% month-over-month. Of the 40 sold homes, 90% were sold under asking, 3% were sold at asking, and 8% were sold over asking.
Days on Market for Okeechobee, FL
How long does it take to sell a home in Okeechobee, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 61 Days | 64 Days | +6.1% |
Summary: Homes in Okeechobee had an average of 64 days on market in May 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Okeechobee are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 40 homes were sold in Okeechobee; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.