How is the Boca Raton Florida Real Estate market performing?

Today’s analysis focuses on the 1st quarter ending 2020 for single family homes, condos, villas and townhouses in the city of Boca Raton Florida; featuring the Boca Raton Florida Real Estate Market Report

As a Boca Raton Realtor selling homes in Boca Raton, I discuss what statistics matter most to you if you’re considering selling a home in Boca Raton or buying a home in Boca Raton.

 

 

Here are the specific graphics detailing the Boca Raton Florida Real Estate market

 

Single Family Homes Sales in Boca Raton

 

Median Sales PriceMedian Home Sales Prices in Boca Raton Florida Real Estate Market Report

Number of Homes by Sales Price Point Boca Raton Real Estate Market reporting

 

Days on the Market before Selling

Analysis of 1st quarter Boca Raton Single Family home sales 2020

  • The median sales price in Boca Raton rose to $537,000 with the ending of the 1st quarter 2020 as spring home sales were readying themselves for home Buyers and home Sellers alike.

 

  • In addition, you can see where particular price points had the most Buyers;  the $350,000-$400,000 range and the luxury buyer of $1,000,000+, yet the luxury market took substantially longer for its homes to sell. A home’s list price will always be critical in getting a home sold.

 

  • Pending listings (those homes that have a Buyer’s contract to purchase) were down over 50%, from one year ago March 2019. Pending home sales year to date were down over 6%, both signifying a  significant drop in home’s going under contract – a definite slow down of the Real Estate market here in Boca Raton as Covid-19 effects were felt.

 

  • New Active Listings were down almost 12% year to date March 2020 and down over 25% from a year ago 2019.

 

  • The supply of available homes for sale in Boca Raton is at just over 4 months of inventory. The active inventory of homes had declined, particularly in comparison to prior years. Inventory of homes for sale ending March 2020, showed a decline of over 31% when comparing to March ending 2019.

 

  • The Single Family home Real Estate market is experiencing a Seller’s market.

 

 

Condo/Villa/Townhouse Sales in Boca Raton Florida

 

Median Sales Price

 

Number of Condo/Villa/Townhouse by Sales Price Point

Days on Market Before Selling

Analysis of 1st quarter Boca Raton Condo/Villa/Townhouse sales 2020

  • The median sales price in Boca Raton remained relatively flat at $225,000 with the ending of the 1st quarter 2020.

 

  • In addition, you can see where particular price points had the most Buyers in the $150,000-$250,000 range, whereas the luxury condo/villa/townhouse buyers reflected a lower number of sales.

 

  • Pending listings (those homes that have a Buyer’s contract to purchase) were down over 43%, from one year ago March 2019. Pending home sales year to date were down over 15%, both signifying a  significant drop in home’s going under contract – a definite slow down of the Real Estate market here in Boca Raton as Covid-19 effects were felt.

 

  • New Active Listings were down over 15% year to date March 2020.

 

  • The supply of available homes for sale in Boca Raton is at just under 5 months of inventory.

 

  • The Condo/Villa/Townhouse Real Estate market is experiencing a Seller’s market, teetering on being a balanced market.

 

Be sure to review past Boca Raton Florida real estate market reports to see the trends of the local Real Estate market – you can find them here:  Boca Raton Florida Real Estate Market Reports archive

Today’s Boca Raton Florida  Real Estate Market Report was prepared By your best local Boca Raton Realtor with eXp Realty, Lynn Pineda. Delivering Real Estate Promises, while selling homes since 2005.  Lynn has attained great success as a proven Real Estate professional and successful author of noted Real Estate publications geared towards helping home sellers and home buyers alike.

The results reported here are based upon local MLS reporting and are not guaranteed.

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