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Satellite Beach, FL Housing Market Trends
In November 2024, the real estate market in Satellite Beach experienced a notable shift, with home prices declining by 9.02% year-over-year to a median price of $555K. Homes also took significantly longer to sell, averaging 120 days on the market compared to 77 days in November 2023. This slower pace reflects reduced buyer demand or increased inventory, contributing to the overall cooling of the market. Additionally, only 11 homes were sold this November, nearly halving from 21 sales during the same month last year, further highlighting a shift in market dynamics that may signal a more cautious approach from both buyers and sellers.
The Satellite Beach housing market is currently not very competitive, with homes typically taking around 70 days to sell. Multiple offers are uncommon, and properties generally sell for about 4% below the list price before going pending. However, "hot homes" — those that attract stronger interest — can sell for approximately 1% below list price and tend to go pending much faster, in around 22 days. This reflects a more selective buyer pool and a market where pricing and property appeal play a critical role in determining sale speed.
In November 2024, Satellite Beach, FL, is firmly in a buyer's market, indicating that the supply of homes exceeds buyer demand. This shift gives buyers more negotiating power, contributing to homes selling for about 4% below the list price and staying on the market for an average of 70 days. Multiple offers are rare, further underscoring the reduced competition. However, well-priced and highly desirable "hot homes" can still attract quicker interest, going pending in around 22 days, though typically at about 1% below the asking price.
Whether you’re looking to buy, sell, or simply learn more about the opportunities in Satellite Beach, FL, Corinna is here to help. With her expertise and understanding of the area, she’ll guide you through every step of the process to find the perfect property that suits your needs. Don’t miss out—reach out today to get started!
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