On April 1, 2020 Florida Governor Ron DeSantis issued Executive Order Number 20-91, deeming both residential and commercial real estate essential in Florida. We continue to practice real estate in accordance with CDC guidelines for social distances. With the technology able today we are able to provide essential services through virtual practices. Our office continues to have showings and to list properties, albeit virtually.
Here is the latest Boca Raton real estate market activity for the week of March 30 - April 5, 2020:
Weekly Activity over $1,000,000
These numbers represent residential listings in Boca Raton, Delray Beach, and Highland Beach with a list price of $1,000,000 or more. Closings are still happening, but those mostly reflect transactions that were signed in February, so the number of closings is a lagging indicator of market activity. New listings are down significantly compared to the first week in March. The number of properties taken off the market is continuing to grow, and exceeds the number of new listings. The percentage of properties with accepted offers was 13% as of April 6, 2020.
Weekly Activity over $200,000
These represent residential listings in Boca Raton, Delray Beach and Highland Beach with a list price of $200,000 or more. New listings declined 18% (less than half of those from the first week of March). New pending contracts declined 18% as well. So people are still buying homes. The percentage of properties with accepted offers was 23% as of April 6, 2020.
Want to know more?
All of our lives have been upended in ways none of us could have imagined. Our agents at Boca Expert Realty are always here to be your reliable source of relevant information and to help you navigate the local market. Please do not hesitate to reach out and contact us for a customized look at the latest conditions for the Boca Raton real estate market and beyond.
Gloria Singer is the Broker of Boca Expert Realty, a boutique Boca Raton real estate company with a focus on professional service and an unparalleled customer experience. Our select agents are amongst the top performing professionals in the field. Visit www.BocaExpert.com for information on Boca Raton, Delray Beach and Highland Beach real estate and to connect with an expert in the local market.