BAY FOREST 2024 MARKET REPORT and 5-YEAR REVIEW

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Median Price and Sales
The median price of the properties sold in Bay Forest increased dramatically from $275,000 in 2020 to $475,000 in 2023, before retreating in 2024. Sales in 2024 recovered from the drop in 2022 and 2023.

Condos, which sell at lower prices than Villas, were a bigger share of the market in 2024 and had a larger effect on the overall median price.

INVENTORY
Inventory levels have returned to pre-COVID levels.

Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
PSF is another way to look at sales. The increase was dramatic from 2020 to 2023, and then the PSF eased back in 2024 in line with median prices.
The pace of sales increased sharply until 2022, but has since returned to the pre-COVID level.

With the market returning to more normal conditions, pricing and condition are again important.
Importantly for Bay Forest, the newly-constructed boardwalk, the iconic feature of Bay Forest, is nearing completion.

If you are thinking of selling, please contact me for a current market analysis for your property.