Boca Raton Real Estate Market Conditions 
Boca Raton Real Estate Market Conditions
There are currently 32 blog entries related to this category.
Short Sale Myth #1: Boca Raton Short Sales Do Not Get Approved
Thursday, May 13th, 2010 at 2:48pm. 223 Views, 0 Comments.
With short sales making up over twenty percent of all Boca Raton real estate listings, and over thirty percent of those listings under $400,000, it is time to answer some commonly held questions and misperceptions about short sales.
SHORT SALE MYTH #1: Short sales take 9-12 months and do not get approved.
This is the most difficult part of a short sale process for both buyers and sellers. The lenders are slammed with files and do not always respond promptly. And it is true that the lender will not look at a file without an executed purchase contract. However, I am finding that the process is becoming more streamlined and it is possible to get a response in a more timely manner. The average process is as follows: Once there is an executed contract subject…
The Boca Raton Real Estate Market continues to be a strong Buyer's Market
Tuesday, March 23rd, 2010 at 1:04pm. 161 Views, 0 Comments.
I have been spending some time examining the Boca Raton real estate market and the underlying statistics of what is happening in our area. I think it's important to discuss the market in terms of price bands, as we have a wide range of inventory and price ranges in our local market. As an example, I have analyzed the current situation for single family homes in Boca Raton, in various price ranges. Check out this chart below:
What is most interesting to me is that the number of months of inventory for homes priced between $750,000 and $999,999 is a whopping 92 months! Only two homes in this price range sold in February 2010 out of 193 listings! Not that it's so great for homes over a million, but they are actually faring better, with 45 months supply.…
Just sold 17052 Boca Club Blvd - Greens at Boca Country Club
Monday, March 8th, 2010 at 5:29pm. 144 Views, 0 Comments.
We are happy to announce the successful closing of our listing at 17052 Boca Club Blvd in the Greens development of Boca Country Club. These Boca Raton Real Estate buyers are a lovely couple from the New York area who will be using the townhouse as a vacation home. The sellers are from Venezuela, and recently bought another property in Broken Sound Country Club.
This property was on the market for less than sixty days, and sold for 87% at the asking price. A 3 bedroom 2000 square foot townhouse, it sold for $240,000. The average days on market for homes of this type in Boca Raton is currently 212 and the average sell price to list price ration is 85%, so needless to say, our sellers were very happy with this result in the current market!
What to anticipate in 2010? Where is the Boca Raton real estate market headed? Part One
Thursday, February 25th, 2010 at 7:24pm. 170 Views, 0 Comments.
I am participating this week in the National Real Estate Cyber Convention and just attended a keynote presentation by Lawrence Yun, the chief economist of the 1.2 Million member National Association of Realtors and widely considered one of the top ten economic forecasters in the country. Here are some of the highlights of Mr. Yun's very interesting talk about what to anticipate in 2010. This is part one of my recap of his lecture. The second part will be covered in a separate blog post:
- Predictions are for 15% higher unit sales in 2010 which will cause inventory levels to stabilize.
- 2 Million first time buyers are expected to take the 1st time buyer credit to date
- An additional 2.4 Million (both 1st time and move up buyers) will take the credit by June 30…
2009 Boca Raton Area Luxury Real Estate Market Wrap-Up
Thursday, January 21st, 2010 at 3:04pm. 218 Views, 2 Comments.
The news continues to be bleak for the luxury real estate market in Boca Raton, Delray Beach, and Highland Beach at the end of 2009 and beginning of 2010.
Last fall I wrote a blog post about the Boca Raton Luxury Market for the six months ending September 30, 2009. THis is a followup to that previous post.
I have examined the current state of the market for properties in excess of $1,000,000 for the last half of 2009.
Here are the number of sold properties in relation to current listings for each price band for the last six months:
Here is an illustration of the current month's supply in each of the price bands:
It is very clear from these illustrations that the luxury market continues to be hammered. While the number of current listings in excess of…
Montoya Circle Boca Raton 2009 Real Estate Market Wrap-up
Sunday, January 10th, 2010 at 1:47pm. 282 Views, 0 Comments.
There were a total of 24 home sales that closed in Montoya Circle Boca Raton in 2009. That's a decline of about 20% from those closed in 2008. Montoya Circle, like the rest of the Boca Raton and Palm Beach County area, felt the impact of the recession and prices have declined sharply from the peak of Summer of 2006 and have even declined sharply over the 2008 average prices. Several of the sales have been short sales and foreclosures, and the general Boca Raton market conditions prevail in Montoya Circle. The community is characterized by its proximity to the popular Boca Raton Synagogue and continues to attract residents that require a location which is walking distance to the synagogue. However as in the past many people moved to the area from the New…
BOCA RATON LUXURY REAL ESTATE MARKET IN DOLDRUMS. BUY NOW IF YOU CAN!!
Wednesday, October 7th, 2009 at 9:33am. 388 Views, 8 Comments.
The sales of luxury properties in the Boca Raton, Highland Beach and Delray Beach real estate market continues to stagnate. I have prepared a couple of graphs which illustrate the great amount of unsold inventory which is on the market in the over one million dollar price ranges. This segment represents approximately 13% of the total listings on the market. For purposes of this article, I have examined all listings in excess of one million dollars in Boca Raton, Highland Beach, and Delray Beach.
Here are the number of sold properties in each price band in the past six months:
Here is an illustration of the current month's inventory in each price band. Please keep in mind that the average for all price ranges in Boca Raton, Highland Beach and Delray Beach is…
Appraisals in today's crazy real estate market!
Wednesday, August 19th, 2009 at 2:13pm. 288 Views, 5 Comments.
Your House As Seen By:
Yourself:
Your Buyer:
Your Lender:
The Appraiser:
and last but not least, the Palm Beach County Property Tax Assessor:
This was sent to me by my friend and colleague John List, who I work with at Lang Realty. I thought it was really funny and apropo. Appraisals in particular are a big issue in our market. In the coming weeks I will be writing about some situations with appraisals that are true stories and are keeping sellers trapped in their homes and unable to sell due to ridiculous valuations by appraisers who don't know the area or the values. Stay tuned!
GREAT NEWS FOR BOCA RATON HOMEBUYERS
Thursday, July 30th, 2009 at 9:44pm. 260 Views, 0 Comments.
GREAT NEWS FOR BOCA RATON HOMEBUYERS:
IT’S TIME TO GET OFF THAT FENCE!
Everyone is talking about the fact that the S & P Case-Shiller home price index, which tracks home prices in 20 metropolitan areas, rose for the first time in 34 straight months of decline. Various housing indicators are showing glimmers of hope that the housing market is improving.
We all know that real estate is LOCAL so I have decided to drill down into the numbers a bit. After examining sales for the three months ending April 30, May 31, and June 30, I can confirm that for the first time in three years, home prices in Boca Raton have increased as have the number of sales. Although they are only slight increases and will have to be tracked over…
Central & West Boca Raton Real Estate Market Statistics - May 2009
Friday, July 10th, 2009 at 1:26pm. 255 Views, 0 Comments.
Below please find the May 2009 sales activity within the Central and West Boca area of Boca Raton real estate - which encompasses all homes and condos/townhomes sold located West of Military Trail.
As shown in the May 2009 Boca Raton East Market Statistics blog, here are some additional property analysis with regard to the above sales, which shows both the breakdown of prices and number of days each property took to sell:
Please bookmark this site to stay in touch with the Boca Raton homes market statistics. I work hard to keep you informed of the monthly changes and updates within this area - please let me know if you have any comments or feedback on the information I am providing you with.
Real Estate Blogs Directory - Directory of real estate blogs…
My Account
Log in, to view your saved searches and add to your favorite listings.
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends