South Florida
Hobe Sound, FL
Single-Family Homes
Real Estate Market Reports
Hobe Sound, FL
Wed Dec 04 2024
This week the median list price for Hobe Sound, FL is $844,000 with the market action index hovering around 28. This is less than last month's market action index of 30. Inventory has increased to 110.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.
Real-Time Market Profile
| Median List Price | $844,000 | |
| Median Price of New Listings | $749,999 | |
| Per Square Foot | $363 | |
| Average Days on Market | 98 | |
| Median Days on Market | 81 | |
| Price Decreased | 35% | |
| Price Increased | 2% | |
| Relisted | 7% | |
| Inventory | 110 | |
| Median Rent | ||
| Market Action | 28 | |
| Slight Buyer's Advantage | ||
Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,200,000 | 3,865 | 0.5 - 1 acre | 4 | 5 | 19 | 2 | 2 | 70 |
| $995,000 | 2,519 | 0.25 - 0.5 acre | 3 | 2.5 | 26 | 3 | 1 | 77 |
| $672,000 | 2,170 | 0.25 - 0.5 acre | 3 | 2 | 29 | 2 | 2 | 84 |
| $495,000 | 1,634 | 6,500 - 8,000 sqft | 3 | 2 | 29 | 4 | 3 | 105 |