Bay Harbor Real Estate Listings & Homes for Sale

In December 2024, home prices in Bay Harbor Islands experienced a significant decline, with the median price dropping 33.1% year-over-year to $555,000. Homes in the area spent an average of 128 days on the market, slightly faster than the 144 days recorded the previous year. However, sales activity slowed, with only 6 homes sold compared to 11 in December 2023. This combination of falling prices, extended market times, and reduced sales volume suggests a cooling market, possibly influenced by shifting buyer demand, increased inventory, or broader economic factors impacting the local real estate landscape.

Bay Harbor Islands maintains a less competitive real estate market, with homes typically selling in about 107 days. Multiple offers are uncommon, and most properties sell for approximately 6% below the list price before going pending. However, "hot" homes—those that are well-priced or particularly desirable—can sell slightly faster, usually at about 3% below the list price and go pending within 64 days. This slower market pace reflects a more relaxed buying environment, giving potential buyers greater negotiating power and more time to consider their options.

In December 2024, Bay Harbor Islands, FL, was a buyer's market, indicating that the supply of homes exceeded the demand. This market condition provides buyers with more options to choose from and greater leverage in negotiations, as sellers face increased competition to attract offers.