Boca Raton Real Estate Blog - Boca Raton Real Estate News & Events

A Look at Palm Beach County’s January 2018 Real Estate Activity

Palm Beach County’s housing market reported rising median prices and reduced listing inventory in January 2018 as compared to January 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 Ticks Upward 

January marked 73 consecutive months that the median sales prices for both single-family homes and townhouse-condos rose year-over-year. The median price is the midpoint, meaning half the homes sold for more, half for less. Months supply of inventory is only 5 months for single-family homes and 6 months for condo and townhouses.

Shrinking Inventory Putting Pressure on Buyers

In many sub-markets, particularly those below the $500,000 price…

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2017 Market Recap

Numbers are in for 2017 real estate sales, and we continue to see some challenges for buyers, especially first-time and entry level buyers. Constrained inventories in the lower price ranges are often producing multiple offers, and buyers with finance contingencies are losing out to cash buyers in many cases. In fact, 46% of closed sales in the Boca Raton real estate market had no financing at all.

A Look at the Numbers

All in all, activity in Boca Raton was within a normal range when comparing 2017 to 2016, as well as for Palm Beach County as a whole. The significant changes were in the average and median sales prices, which increased more than 6% countywide. Otherwise, slightly fewer listings came to market in 2017, with a corresponding…

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So, How’s the Market?

If there’s one question our Boca Raton real estate agency gets more frequently than any other in real estate, it’s “so, how’s the market?” Many real estate professionals will simply assure the questioner that it’s great or incredibly busy, but that really is doing the person asking a disservice. In reality, there is truly not a succinct answer. As I touched upon last month, our local area is actually more of a dual market. As is true in most markets, the higher up the price ladder, the more lengthy the time on market will be.

In addition to neighborhood and price, there are several other factors that must be considered to accurately determine market condition. The good news is that real estate cycles are long, slow and predictive, and studying…

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4 Ways to Spend Your Summer in Boca Raton

Summer is in full swing here in Boca Raton, and there’s no better place to spend the warmer months than our local area. The city has a wide variety of exciting activities all year round, and the summertime is no exception. Our Boca Raton real estate agents all live in the area, and are always happy to offer up recommendations to newcomers in search of excitement.

Here are four of our favorite summer activities in Boca Raton.

Explore Gumbo Limbo Nature Center

If you’re a nature lover, a trip to this environmental center is a must. With a sea turtle rehabilitation center, outdoor marine aquariums, and a butterfly garden, there are plenty of opportunities to see wildlife. The complex also has two trails (one of which is a boardwalk trail), an…

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Your Local Market Update: May 2017

Summer is officially here, and just as the weather is heating up, so is the Boca Raton real estate market. Florida Realtors® has released its report for May 2017, and the statistics show that both buyers and sellers can thrive right now in our local area — with the guidance of a qualified agent, that is.

Whether you’re looking for a condo by the beach or a single family home, here’s what you need to know as we enter the summer season.

Single Family Homes in Palm Beach County

The single family home market in our local area brought some notable shifts in May. Closed sales were on the rise both year-over-year and month-over-month, much to the delight of sellers. The same can be said for the median sale price, which showed a 7.9 percent increase…

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Four Ways to Celebrate the Fourth of July in Paradise

There are plenty of reasons one would want to live in our local paradise year-round. One of them is the multitude of activities the area has to offer, particularly when there’s a holiday.

Independence Day is right around the corner, and there are plenty of ways to celebrate the Fourth of July in Boca Raton and surrounding areas. Here are four of our agent’s favorite local events where you can enjoy the holiday with family and friends. The best part? They’re all free!

Fabulous Fourth Celebration in Boca Raton

This exciting event kicks off at 6:30 p.m. Listen to the live band while the kids have fun on the giant slide and rides, including the Shock Wave and Pirates Revenge. Fireworks start at 9:30 and close out an exciting evening. There’s…

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Your Local Market Update: April 2017

As May draws to a close, let’s take a look back with the newly released Florida Realtors® market report for April 2017. The statistics point to some differences between single family homes versus townhouses and condos in the Palm Beach County real estate market. Despite this, both markets experienced notably slight year-over-year changes.

Single Family Homes in Palm Beach County

The market for single family homes remained relatively balanced with upticks in both closed sales and active listings. Closed sales rose a meager 0.8% from last year’s 1,586 to 1,598 in 2017. Similarly, active listings increased only 0.5% with a year-over-year change from 7,443 to 7,481. Fortunately for sellers, median sale price rose 6.5% from $307,125 to $327,000 and…

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Your Local Market Update: March 2017

Florida Realtors® has released its report on the Palm Beach real estate market for March 2017. Overall, our local markets continue to be balanced, though the numbers reported have certainly demonstrated notable shifts when compared year-over-year. 

Single Family Homes in Palm Beach County

The statistics reported for Palm Beach County’s single family homes in March suggest that the market is working to the advantage of sellers — at least for the time being. Though still predominantly balanced, the 10.3 percent spike in closed sales and 8.9 percent rise in the median sale price are great news for sellers. That said, the month’s supply of inventory continues to linger around a balanced figure, even more so than the year prior when it came in at 5.1.…

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Parks to Take Your Pup in Palm Beach County

When purchasing a new home, it’s important to choose one that meets the needs of the entire family — dogs included. To ensure these needs are accommodated, you should enlist a Palm Beach County real estate agent who is an expert in the local area. 

While you might think that knowledge of the area’s best dog parks would fall outside a real estate agent’s expertise, that couldn’t be further from the truth at Boca Expert Realty. Every member of our team lives in the local area, and so do our dogs! Thus, we know better than most which places your pooch is sure to love.

Here are some of our favorites.

Best Dog Parks in Palm Beach County

Dogs are natural explorers, and owners are often looking for new places to let them off the leash. Help your…

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Your Local Market Update: February 2017

Spring has officially arrived and the Florida Realtors® market report for February 2017 has come with it. The real estate market in Palm Beach County continued its healthy streak from January. Though changes were more subtle, both sales and inventories went up continuing our ongoing trend of a balanced South Florida market.

Single Family Homes in Palm Beach County

February saw a slight increase in sales of single-family homes with 1,160 completed transactions, 1.2 percent more than last year. A 6.8 percent hike in the median sale price to $315,000 was even better news for sellers of single-family homes. Buyers were favored by a modest 3.3 percent growth in active listings for a total of 7,839. The month’s supply of inventory (the number of months it…

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