South Florida
Ocean Ridge, FL
Single-Family Homes
Real Estate Market Reports
Ocean Ridge, FL
Sun Dec 22 2024
This week the median list price for Ocean Ridge, FL is $3,550,000 with the market action index hovering around 22. This is an increase over last month's market action index of 20. Inventory has decreased to 15.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
The market shows signs of warming up, with sales demand recently increasing faster than inventory. Prices have not yet responded as the market is still working through excess inventory. It’s unlikely that we’ll see prices level off or move higher until the MAI sustains its upward trend and maybe not until the inventory is depleted enough to create a Seller’s market.
Real-Time Market Profile
| Median List Price | $3,550,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $1,099 | |
| Average Days on Market | 202 | |
| Median Days on Market | 168 | |
| Price Decreased | 60% | |
| Price Increased | 0% | |
| Relisted | 7% | |
| Inventory | 15 | |
| Median Rent | ||
| Market Action | 22 | |
| Slight Buyer's Advantage | ||
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $7,954,000 | 4,686 | 0.5 - 1 acre | 5 | 5.5 | 23 | 0 | 0 | 357 |
| $5,274,500 | 4,518 | 0.25 - 0.5 acre | 4 | 4.5 | 5 | 0 | 0 | 224 |
| $2,242,500 | 2,332 | 0.25 - 0.5 acre | 3 | 2.3 | 54 | 0 | 1 | 157 |
| $1,299,187 | 1,251 | 4,500 - 6,500 sqft | 3 | 2 | 61 | 0 | 0 | 133 |