Boca Expert Realty Real Estate Blog - Boca Raton Real Estate Market Conditions

Palm Beach County Market Update: October 2016

According to the Florida REALTORS® October 2016 market report, South Florida’s residential real estate market is slowing down. While listing inventories increased, the number of closed sales decreased. These statistics are in favor of buyers because of a larger inventory, while sellers may be at a disadvantage when negotiating prices.

October’s statistics for Palm Beach County properties mimicked the trends of the overall South Florida region. The most notable figure from the report is a combined 12.1% reduction in overall sales of all property types in Palm Beach County. Another significant year-over-year change was the 6.3% net increase of active listings which marks an additional 773 units for sale. The entire listing inventory of all…

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JUST REDUCED!!! Mizner Pointe

Bright and spacious 2 story home for sale in central Boca Raton. This 4 bedroom 3.5 bath plus loft home sits on a private, quiet lot with no rear neighbors. With over 2,500 sq. ft. of living space, the open floor plan includes a dramatic 2 story entrance that leads to the living/dining room with 18 ft. ceilings. The updated kitchen flows through to the family room, which features vaulted ceilings and overlooks the tropical covered patio. 

8564 Via Giardino (RX-10233860) has been reduced in price to sell at $442,000.

Located in central Boca Raton, Mizner Pointe is an ALL AGE, 24 hour manned gated community close to Mizner Park and Town Center, with easy access to I-95 and Florida's Turnpike. 

For more information on Mizner Pointe…

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What’s on the Horizon for Golf Club Communities in South Florida?

There has been much discussion lately about the drop in popularity of golf clubs, and its implications for the South Florida real estate market.

The number of golf courses has declined steadily since 2006, with hundreds more closing each year than opening. The majority of these are public courses, as local governments cannot afford to keep losing taxpayers’ money to maintain their courses.

The issue is basically one of supply and demand. The attrition rate is increasing as fewer people are taking up the sport. Golf is an expensive activity with a very steep learning curve.

South Florida is home to many mandatory membership country clubs. Some are more financially healthy than others. Most were built in the 1980’s and 1990’s during golf’s heydey.…

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Just Reduced by $150K! 7894 Tennyson Court ~ Boca Hamlet ~ Montoya Circle ~ Central Boca Raton

Seller says sell this unique, bright and spacious single story home just listed for sale in the prestigious community of Boca Hamlet in Montoya Circle. Situated on a .42 acre lot, this beautiful home with open floor plan includes 4 large bedrooms, 3 ½ baths, a 500+ sf bonus room and a heated swimming pool with spa.

Completely renovated from top to bottom, this 3500+ sf home is meticulously maintained and no attention to detail has been spared. This home’s spaciousness, custom kitchen, marble flooring and high-hat lighting are just some of the features that make it perfect for large or intimate gatherings.

The chef’s kitchen includes ample cabinet space, granite counters and backsplash, top-of-the-line stainless steel appliances such as a Sub-zero…

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Boca Raton Market Report - December 2015

The latest market statistics are out for Boca Raton real estate and Palm Beach County. These numbers are comparing the real estate market results from December 2015 to the results from December 2014. Some insights:

If you are considering selling, now is the time:

The year over year sales pace has increased in both Single Family and Condos, while inventory has decreased. What is this telling us? There is less than 5 months of inventory on the market (the amount of time it would take to sell all of the homes currently for sale). This means that Sellers have the upper hand. The rule of thumb is that six months supply is a balanced market. Anything less than that tilts towards a Sellers market, while anything longer tilts towards a Buyers market. 

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South Florida housing in 2016: Some predictions

What is in store for South Florida real estate in 2016? 

As the Broker of a productive Boca Raton real estate agency, I am involved in not only my own transactions, but those of my busy agents as well. Additionally, I am an avid consumer of business and political news, and am particularly interested in how current trends impact our local community.
That being said, here are some of my predictions for the year ahead:

URBAN LIVING: I predict that more baby boomers will sell their suburban homes and move into downtown areas of Boca Raton and Delray Beach. The empty nesters are looking for a lifestyle change and are seeking homes, both condos and houses, in neighborhoods that offer walkability to the beach and to restaurants and shops. One only has to…

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Boca Raton Market Report- November 2015

One of the most frequently asked questions we Boca Raton REALTORs® receive is "How's the Market"? Whether someone is buying or selling or just curious, everyone seems to want to know what is happening in the real estate market.  The most recent local market update has been released for Boca Raton real estate as well as for the entire Palm Beach County for November 2015. Some significant numbers to ponder:

• 90 - This is the average number of Days on Market from when a Boca Raton property is listed until when it is sold. It is close to 14% less than the same period last year. It is much higher than Palm Beach County taken as a whole, but that reflects the higher price point in Boca Raton. The higher the price, the longer that it takes on average to…

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Boca Raton Market Conditions ~ 3rd Quarter 2015

I thought it would be interesting to analyze the state of the housing market in the Boca area. For the purposes of this analysis, I used single family homes in Boca Raton and Highland Beach for the period of July 1 - September 30, 2015 over $300,000 and broke out the analysis into price bands. I will analyze the condo market in future posts, but I believe that the numbers are comparable.

What do we learn?

The inventory levels are very low. In the price range of $300-500K there is not even a month’s worth of active listings based upon the recent sales. (The number of months of inventory is simply the number of current listings divided by the actual sales per month). As you go up the price ladder, the time on market and inventory supply increases,…

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What Should You Know About the South Florida Real Estate Market?

Understanding the real estate market of any area where you plan to purchase a home is very important. Every local market is a little different. South Florida's real estate market isn't the same as New York City or Lincoln, Nebraska. Here are a few things to understand about the market in South Florida.

Growth and Higher Prices

Due to the competition, the South Florida real estate market has seen plenty of growth and surging prices. In October 2013, the average home price increased by over 10%. This is mainly a result of the high competition and multiple bids sellers are receiving.

New Buildings

The tighter market has caused many new homes and condominium buildings to begin development. Miami-Dade, Broward and Palm Beach counties are seeing new…

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Are there any Oceanfront Condos in Boca Raton?

Boca Raton is home to many communities with oceanfront condominium buildings. This area provides five miles of beautiful white sandy beaches and amazing blue ocean waters. Here's where you will find the oceanfront condos in Boca.

Presidential Place

As one of the most prestigious places for an oceanfront condo, Presidential Place is a great choice in Boca. Only 42 residences are found here with five-star amenities throughout. Residents enjoy access to a concierge service, 24-hour valet parking, an exercise room, private cabanas, pool, gated entry and more. Four championship golf courses are also found here, along with tennis courts and a spa.

Luxuria

Another exclusive place for oceanfront living is Luxuria. This is a mid-rise building with many…

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