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Boca Raton Real Estate Market Conditions

Boca Raton Real Estate Market Conditions

Found 78 blog entries about Boca Raton Real Estate Market Conditions.

may 2019 market statsNewly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for the month of May. Read on to learn more about the real estate market in South Palm Beach County:

Single Family Market Overview

The number of closed sales of single-family homes did increase 7.3% year over year for the month of May, however, on a year-to-date basis, we are down 6.2%. Median and Average sales prices have remained relatively flat, while the inventory numbers have continued their decline. We now have 5.1 months of Single-Family homes, but be cautioned that this number is an average, and depending upon the sub-market and the price point, could vary widely.

Townhouse/Condo

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for January. Read on to learn more about the real estate market in South Palm Beach County:
The existing trends are continuing with the latest market statistics. Slower sales have persisted across most residential markets as buyers struggles with low affordability, higher prices, and low inventory.
However, for well-priced homes in desirable locations, competition is fierce. New Listings decreased 3.3 percent for Single Family homes and 1.0 percent for Townhouse/Condo homes. Pending Sales decreased 3.1 percent for Single Family homes and 14.0 percent for Townhouse/Condo homes.…
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February 2019 Market statsIs the market slowing down?

Kind of.

  • There are fewer sales. Each month since November 2018 has shown year over year declines in the number of closed sales.
  • Prices are still increasing. (Although the pace of price increase is slowing down).
  • Affordability remains a concern. The housing affordability index continues to decline, meaning that homes are less affordable.
  • It’s taking longer to sell. The median days on market is now 46 for Single Family Homes and 50 for Townhouses/Condos. Those are the highest numbers we have seen in a year.

What does this all mean?

The market is changing, but it is nowhere near a Buyer’s market (yet).  Buyers are still competing if the home is “the best”- meaning priced right and looks great. But- many

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January 2019 Market Statistics Infographic

Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for January. Read on to learn more about the real estate market in South Palm Beach County:

Home Sales begin to slow

The pace of home sales began to slow in the last quarter of 2018, despite a strong economy, high employment, and steady wage growth. Although prices have continued to rise, the rate of the increase is slowing.  Blame for the slowdown was given to a combination of both high prices and steady interest rate hikes by the Federal Reserve. This month, the Fed responded by not increasing rates further for the time being.

Affordability continues to be an issue

Although home

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December 2018 Market Statistics

Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for December. Read on to learn more about the South Palm Beach County Real Estate market:

Prepare for a Changing Market

We closed out the year with an overall year over year increase of 4.1% in the Median Sales Price and 7.4% of the Average Sales Price for all property types in South Palm Beach County. Although it is a slight increase, it is a smaller change than in recent years. So although home prices have not yet fallen, there was a decline in the rate of appreciation.  The price increases are a result of high demand for fewer homes for sale, however, there is evidence that inventory

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for September. Read on to learn more about the Boca Raton Real Estate market:

Numbers are skewed because of Hurricane Irma

The reports show a huge increase in the number of closed sales in Boca Raton in September 2018 as compared to September 2017, but of course, the numbers are very skewed. Hurricane Irma knocked out a huge number of real estate closings in September 2017, causing many to be canceled or delayed. I expect that the next several months will also show some distorted numbers as a result of last years “weather interruption”.

Additionally, the number of pending sales is

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June’s performance for the Palm Beach County real estate market for existing homes largely reflected the prevailing trends that we had seen for 2018 thus far, as revealed in the latest market statistics from Florida Realtors.

Closed Sales

Overall, 50 fewer single-family homes sold in Palm Beach County in June 2018 as compared to June 2017, a 2.7% decline. Meanwhile, 60 more condos and townhouses sold this past June, an increase of 4.9% compared to the same period the previous year. The number of closed sales year to date (January-June 2018) did not change from the previous year for single-family homes and rose 4.3% for condos/townhomes. 

Inventory

The absence of sales growth (especially in single-family homes) of the past couple of years is due

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Palm Beach County’s housing market reported rising median prices along with reduced listing inventory in May 2018 as compared to May 2017, according to the latest housing data released by Florida Realtors®. 

Notable facts from the latest statistics include:

The Market for Single Family Homes and Condos/Townhomes is Different
The median price of closed sales in Palm Beach County for single-family homes continues to rise, with a 5.7% increase from the same period last year. The median price now stands at $354,000 for single-family homes. The median price has increased every month this year for single-family homes. 

The median price for condos and townhomes did go down somewhat this month as compared to the previous year, as well as month to

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According to the latest housing data released by Florida Realtors®, Palm Beach County’s housing market reported sharply rising median prices and more closed sales, along with slightly reduced listing inventory in April 2018 as compared to April 2017, according to the latest housing data released by Florida Realtors®.  

Here’s what buyers and sellers of Boca Raton real estate need to know.

Median Price Continues to Climb

The median price of closed sales in Palm Beach County continues to climb, with a 5.8% increase from the same period last year for single-family homes, and 9.7% for townhouses and condos. Pushing up the median price (half sold for more/ half sold for less) is the fact that more expensive homes are selling. In fact, the average

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 According to the latest housing data released by Florida Realtors®, Palm Beach County’s housing market reported rising median prices and more closed sales. Additionally, the listing inventory experienced a slight reduction in March 2018 as compared to March 2017. 

Here’s what buyers and sellers of Boca Raton real estate need to know.

March Stats

Median Price Continues to Climb

The median price of closed sales continues to climb, with a 7.1% increase from the same period last year for single-family homes, and 9.3% for townhouses and condos. The median price also climbed month over month. The median sale price in March 2018 was $348,000 vs. $345,000 in February 2018 for single-family homes, and $177,000 vs. $170,000 for townhouses and condos. 

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