Is Park East, 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, Park East was a Seller's Market.
Key Takeaway
Park East 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 Park East, FL
How much do homes in Park East, FL cost?
Median Sold Price
$209,000
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Park East have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Park East was $209,000 in May 2024, up 4.5% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $155K | -6.1% |
| 2 Bedrooms | $205K | $215K | +4.9% |
| 3 Bedrooms | $387.5K | $340K | -12.3% |
| 4 Bedrooms | $340K | $875K | +157.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Park East housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.1%, 2 bedroom homes increased by 4.9%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes increased by 157.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown Sarasota | $1.0M | $1.2M | +15.6% |
| Park East | $200K | $209K | +4.5% |
Housing Supply in Park East, FL
How many homes are available in Park East, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 45 | +9.8% |
Summary: The Park East real estate market had 45 homes for sale in May 2024, a 9.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 27 | 28 | +3.7% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Park East 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 3.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
6 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 Park East, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Park East in May 2024, up by 16.7% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for Park East, FL
How long does it take to sell a home in Park East, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 69 Days | 52 Days | -24.7% |
Summary: Homes in Park East had an average of 52 days on market in May 2024, down by 24.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Park East are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Park East; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.