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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My listing in downtown Boca Raton just sold for $1,210,000. It was truly a pleasure to list this townhouse and proudly show it over the last few months. Working with the sellers, who are dear friends, meeting lots of new people as we went along, getting to know the buyers who are thrilled with their new home, made the whole experience a win-win for everyone involved. Welcome to our neighborhood!

This 3 bedroom townhome in the Indies is walking distance to the city's finest attractions including world-class shopping and dining at Mizner Park, Royal Palm Place, and along East Palmetto Park Road.  Indies is walking distance to houses of worship, less than one mile from the beach, and a couple of blocks from the famed Boca Resort & Club.

To find out…

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