East Boca Raton FL Real Estate Market Stats
Find out about the East Boca Raton, Florida Real Estate Market in this monthly publication on single family home sales in East Boca Raton, Florida. East Boca Raton is within the city limits of Boca Raton. (see rough draft of map below).
How were home sales in East Boca Raton during January 2018? If you’re buying a home in East Boca Raton or selling a home in East Boca Raton, this report will shed some important light on your decision making process. And remember, if you have more questions that aren’t answered here in my report, you can call/text/ me at 954-464-1100 or email at LynnP@ImagineYourHouse.com.
In today’s monthly market report we’ll uncover the following for single family homes:
- The number of homes sold in East Boca Raton.
- The median home prices in East Boca Raton.
- The median square foot prices in East Boca Raton.
- How many days on the market (DOM) before homes sold in East Boca Raton?
- The level of distressed homes in East Boca Raton.
- The absorption rate/level of supply and inventory in East Boca Raton.
- Seller’s Market, Balanced Market or Buyer’s Market in East Boca Raton Florida.
Today’s report is for January 2018. Let’s find out about homes sold in East Boca Raton.
56 single family homes sold in East Boca Raton Florida during January with the median sales price being $642,000.
Home Prices in East Boca Raton – at a glance.
Absorption Rates And Inventory Supply Reported In East Boca Raton Florida
How many homes are available for sale to meet the demand of Buyers? Here I illustrate how many months it would take to sell the current inventory of homes for sale (supply) should no other homes hit the market for sale in East Boca Raton based upon prior month home sales and what is being absorbed by home Buyers (absorption rate).
Absorption Rates:
Absorption rates measure the rate in which the current inventory supply will be absorbed into the market based upon prior months of home sales, which will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market. Just under 10% of the homes listed for sale were absorbed by home Buyers; a continued move toward a strengthening Buyer’s market in East Boca Raton.
With the trend toward less homes being absorbed by East Boca Raton home buyers, we are experiencing higher inventory levels of homes for sale in East Boca Raton. It’s the current Real Estate market trend for the city of Boca Raton…less homes sold with the supply increasing.
Just under 10% is the current absorption rate for January 2018 – reflects a trend of less homes being absorbed by East Boca Raton home Buyers.
Typically, absorption rates of 20% and higher reflect a Seller’s Market and 15% and under reflect a Buyer’s market, while a Balanced market hovers in between the two.
Supply of Homes
Current supply of homes shows it would take 10.23 months to sell the current supply of homes should no further homes be listed for sale in East Boca Raton; another Buyer’s market indicator.
When there is less than a 6 months of inventory supply we’re in a Seller’s Market, 6 months of inventory supply we’re in a Balanced/Stable market and over 6 months inventory supply of homes reflects a Buyer’s market.
The supply of homes for sale this month increased once again during January to 10.23 months, up from the year ending 4th quarter report of 2017 at a supply 9.10 months.
Reported East Boca Raton home sales – prior month’s reports
The absorption rates and supply/inventory levels that I report here are only for the city limits of Boca Raton or East Boca Raton. Keep in mind that these rates can vary by neighborhood and will vary by city also. When selling a home, it’s important to know your neighborhood rates/levels for a number of reasons, including knowing how to best position your home for sale.
Distressed Property Sales includes Short Sales and REO/Lender/Bank owned homes. The overall distressed rate during January 2018 came in at 3.57%.
Call me/text me now or email me, and I can tell you your local neighborhood absorption rate so you know how to best position your East Boca Raton home for sale
East Boca Raton Neighborhood Sales:
The clear front row winner of most homes sold goes to Boca Square having sold 7 homes during January!
Some of the top selling luxury neighborhood sales were found in Boca Villas, Royal Yacht and Country Club, Spanish River Land, to name a few.
Find out – “How much is my Home Worth?”
Call for your complimentary analysis of your home’s value.
Book an appointment now to learn more about the local East Boca Raton Real Estate Market or when you’re thinking; “I need to sell my home in East Boca Raton” or “I need to buy a home in East Boca Raton”. Call/Text Lynn at 954-464-1100 or email Lynn at LynnP@ImagineYourHouse.com
East Boca Raton FL Real Estate Market Report for January 2018 written by your neighborhood East Boca Raton Realtor, Lynn Pineda with Keller Williams Realty serving Broward and Palm Beach counties. Based upon local MLS Statistical findings. Accuracy is not guaranteed. Top Boca Raton REALTOR® provided. Real Estate Agent delivering on promises.
Lynn hopes you enjoyed the most recent report on homes selling in East Boca Raton. You’ll also find Lynn selling homes in Southeast Florida in the cities of Boca Raton, Coral Springs, Parkland, Margate, Sunrise, Tamarac, Coconut Creek, Boynton Beach, Delray Beach and surrounding cities within Broward and south Palm Beach counties.
