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Tue. Jul 23rd, 2024

Homes in Bay County have recently sold for lower prices: see how much here

By Vaseline May27,2024
Homes in Bay County have recently sold for lower prices: see how much here

Newly released data from Realtor.com for February shows potential buyers and sellers in Bay County saw homes sell for less than the previous month’s median sales price of $362,500.

The average home sold for $345,000, according to an analysis of data from Realtor.com. This means that February, the most recent month for which figures are available, was 4.8% lower than January.

Compared to February 2023, the median home sales price was up 3.9% to $345,000, up from $331,964.

Realtor.com pulls sales data from real estate deeds, resulting in a delay of a few months in up-to-date data. The statistics do not include homes currently for sale and are not directly comparable to listing data.

Information about your local housing market, along with other useful community data, is available at data.newsherald.com.

Looking only at single-family homes, the median sales price of $335,500 in Bay County in February was 2.8% lower than $345,000 the month before. Since February 2023, single-family home sales prices have fallen 4.1% from an average of $349,900.

Ten single-family homes sold for $1 million or more during the month, compared to four recorded transactions of at least $1 million in February 2023.

Sales prices for condos and townhomes fell 1.3% in February to an average of $375,000, compared to $380,000 in January. Compared to February 2023, the sales price of apartments and townhomes was up 19.1% from $315,000. Five condos or townhomes sold for $1 million or more during the month, compared to two recorded transactions of at least $1 million in February 2023.

In February, the number of recorded sales in Bay County since February 2023 decreased 3.9% from 337 to 324. All residential sales totaled $143.9 million.

In Florida, homes sold for a median value of $380,015 in February, up 1.7% from $373,697 in January. There were 24,685 sales recorded across the state in February, down 2.1% from the 25,216 sales recorded in February 2023.

The total value of recorded residential sales in Florida rose 25.1% from $19.4 billion in January to $24.3 billion in February.

Of all home sales in Florida, 11.14% of homes sold for at least $1 million in February, up from 8.68% in February 2023.

Single-family home sales prices across Florida rose 0.2% from an average of $399,150 in January to $400,061 in February. Since February 2023, the sales price of single-family homes across the state has increased 5.3% from $380,044.

Across the state, sales prices for condos and townhomes rose 4.5%, from an average of $303,552 in January to $317,325 in February. The median sales price of condos and townhomes is up 7.6% from the median of $295,000 in February 2023.

The median home sales price used in this report represents the midpoint of all homes or units listed during the given period. The median provides a more accurate picture of what’s happening in a market than the average sales price, which would involve taking the sum of all sales prices and then dividing it by the number of homes sold. The average can be distorted by one particularly low or high sale.

The USA TODAY Network is publishing localized versions of this story on its news sites nationwide, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.

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