Ocean Ridge, FL Real Estate Market
Buying a Home in Ocean Ridge Right Now
Right now, buyers in Ocean Ridge have real room to work. There are 45 homes listed against 74 sales over the past year, which works out to 7.3 months of supply and a market leaning toward buyers. You are shopping with options in front of you.
How homes actually close backs that up. The median sale went for 93.7% of its final list price, and only 5% sold above asking. An offer under the list price is a normal starting point here, not an insult to the seller. The typical sale also took 61 days to come together, so there is usually time to take a second look, run your numbers and think it through before you commit.
Ocean Ridge Home Prices
Most of what changes hands here is priced $1,000,000 and up. That range accounted for 70% of last year's sales. The median sold price was $1,610,000, and buyers paid a median of $762 per square foot. If you want the widest choice of homes, build your budget around those figures.
Lower-priced sales do happen. 15% of homes sold under $300,000, and 7% sold between $300,000 and $400,000. Fewer sales landed in the ranges after that. 4% sold for $400,000 to $500,000, and an equal 4% sold for $750,000 to $1,000,000. If your budget falls in one of those ranges, keep a close eye on new listings, because there are not many to choose from at any one time.
A lower price tells you about the price, not the home. Before you decide a less expensive listing is the better buy, compare its size, age and association costs side by side with the others.
Ocean Ridge Homes and Townhomes
The typical Ocean Ridge home has about 2,010 sq ft of living space and 3 bathrooms. Homes with 3 bedrooms make up 30% of what has sold or been listed here, and two-bedroom homes make up 29%. Expect a good share of your search to be spent comparing homes in that size range.
The median home was built around 1974. That means a home's age and upkeep history deserve as much of your attention as its finishes, and a thorough inspection is money well spent.
Associations are a big part of the picture. 62% of homes report an HOA, so for most properties here the association is part of what you are buying. Townhomes make up 15% of homes, a modest slice of the market but worth a look if you would rather share exterior upkeep than handle all of it yourself.
Questions to Ask Before Buying a Home in Ocean Ridge
- Given the age of most homes here, which major systems (roof, plumbing, electrical, air conditioning) have been replaced, and when?
- With an HOA reported on most homes, what are the fees, what do the rules allow, and are any special assessments planned?
- For a townhome, which exterior items does the association maintain, and which are yours?
- How long has this home been on the market compared with the typical sale here?
Local help with Ocean Ridge real estate
Every area has its own mix of homes, neighborhoods and price ranges. Chris Kull can help you understand what to expect in Ocean Ridge and answer questions along the way.
Have a particular neighborhood or type of home in mind? Tell me what matters most and I can narrow the search to the properties worth a closer look. Call or text 561-440-0777 or send me a message.
