Breakers West Homes For Sale & Real Estate Listings

In September 2024, home prices in Breakers West experienced a 3.6% increase compared to the previous year, with a median sale price of $965,000. Homes in this area now spend an average of 112 days on the market, reflecting a longer wait compared to the 90-day average in the same period last year. Notably, the number of homes sold rose to 13 from just 8 a year prior, indicating a higher transaction volume despite extended listing times. Additionally, the median sale price per square foot in Breakers West saw a remarkable 77% surge, reaching $478. This substantial increase in price per square foot underscores a strong demand for quality and space, suggesting that buyers may be willing to pay a premium for the area's appeal and amenities, even amid a more competitive market.

Breakers West is currently a relatively relaxed market with low competition. Homes typically sell within approximately 65 days, with multiple offers being an uncommon occurrence. On average, properties sell for about 6% below the list price and go under contract around 65 days after being listed. For homes deemed "hot" in the market, the timeline is shorter, with these properties going pending in around 37 days and usually selling for about 2% below the asking price. This data suggests that while there is some buyer interest, it’s not at a level that drives bidding wars or rapid sales, allowing buyers more time and negotiation room when making offers.

For buyers, the slower pace and lower competition in Breakers West mean there's room for negotiation, especially on properties that have been on the market longer. Sellers, however, should price competitively to attract serious buyers, as homes typically sell below list price and linger on the market. Hot homes are the exception, so strategic pricing and presentation could help a listing stand out and sell faster, even in this more relaxed market.