East Boca Raton FL Single Family homes sales for the 2nd Qtr 2019

 

 

 

Boca Raton Real Estate AgentHow did homes sell in East Boca Raton FL for the 2nd Qtr ending 2019? Was the market up or down or no change? I’ve been reporting on home sales in East Boca Raton throughout the years trying to keep East Boca Raton residents and those wanting to move to East Boca Raton informed on local Real Estate market conditions as your Boca Raton Real Estate Agent. Remember, when you’re in the know you’ll make wiser decisions.

East Boca Raton is within the city limits of Boca Raton, where my reporting is focused upon. (see rough draft of map below).

The market has shifted a bit and will differ from the condo market to the single family home market. Are you selling a single family home in East Boca Raton? What will matter to you? What about luxury home sales in East Boca Raton? More on that later below.

 

Knowing these important Real Estate market statistics will help any home Seller knowing how to best position their home for sale in East Boca Raton. In addition, the home Buyer in East Boca Raton will know about what they’re up against and how to best position any offer that they have for a home their considering to buy. Let’s jump in and discover how the East Boca Raton Real Estate market performed ending out the 2nd qtr for 2019.

In today’s Real Estate market report, we’ll answer the following questions for single family homes:

 

 

Number of Homes Sold

Ending the 2nd qtr of 2019, 327 homes sold, averaging 109 homes sold a month, which is an increase from the 1st quarter 2019, where we saw an average of 67 homes sold a month.

Most homes sold in these price point ranges:

 

327 homes sold during the 2nd qtr ending 2019, which averaged selling 109 homes a month

 

Boca Raton Realtor selling homes

Median Sales Price

$610,000 was the median sales price, which reflects a high of $12,603,000 and a minimum of $175,000. Luxury home sales will be reported on later within the article. Stay tuned.

 

 

$610,000 was the median sales price ending the 2nd qtr 2019 in East Boca Raton. Up from $580,000 1st quarter 2019.

 

Boca Raton Realtor reports on home sales

Days on the market (DOM) before homes sold

Homes were on the market for 51 days before they sold, an increase from last quarter.

 

Supply of Homes

The supply of homes indicates what the inventory level is of homes currently available for sale in East Boca Raton. Should no other homes enter the Real Estate market for sale in East Boca Raton it would take just over 5 months to sell what is currently active for sale based on prior reported home sales. This is a major reduction in the supply of homes as compared to the 1st quarter, which reflected 9.63 months with a Buyer’s market.  The Real Estate market in East Boca Raton Florida has shifted in the 2nd quarter to reflect a Seller’s market.

 

Absorption Rate (rate in which homes are absorbed/sold)

How many homes are being bought by home Buyers in East Boca Raton; what is being absorbed by them? Currently, it shows that roughly 20% of homes are being “absorbed” by these home Buyers; another indicator of a Seller’s market in East Boca Raton Florida.

More homes are being absorbed by Buyers. Buyers want to buy a home in Boca Raton.

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.

 

 

 

A shift to a Seller’s Market in East Boca Raton Florida

Typically, 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.

It’s always important to understand, that the type of Real Estate market will vary by city, right down to the specific neighborhood. When you hear another city is experiencing a Seller’s market, for example, it does not mean that the same Real Estate activity holds true for you, in East Boca Raton. You’ll always want to speak with a skilled Real Estate professional to get the specifics depending upon where you live.

Since last year 2018, through the 1st quarter of 2019, the East Boca Raton FL Real Estate market has been experiencing a Buyer’s market and current reported Real Estate sales reflect a shift to a Seller’s market.

 

Luxury Home Sales in East Boca Raton

 

You’ll discover more about the luxury home market in this East Boca Raton FL Real Estate Market Report.

 

Luxury Homes in East Boca Raton Florida

 

The neighborhoods of 5Th Avenue Estates, Royal Palm Yacht and Country Club, Bay Creek, Bel Marra, Boca Marina, Boca Raton Riviera, Spanish River Land, Boca Harbour Island, Boca Villas, Devon Place and Old Floresta had the most luxury homes sold ending the 2nd quarter of 2019.

Number of Homes Sold

Ending the 2nd qtr of 2019, 85 luxury homes sold in East Boca Raton, averaging 28 a month, up from 18 a month during the 1st quarter 2019.

 

Median Sales Price

$1,725,000 was the median sales price of luxury homes, up from the 1st quarter at $1,687,500 with the highest price point at $12,603,000.

 

Days on the Market (DOM)

Luxury homes in East Boca Raton where on the market for a median of 106 days, where the highest priced home took 1,937 days to sell.

 

Supply of Homes

There is just over a 9 months supply of Luxury homes for sale in East Boca Raton. If no additional luxury homes entered the market for sale, it would take just over 9 months for the luxury home Seller to sell their home, compared to a 16 months supply during the 1st quarter 2019.

It’s a Buyer’s market for luxury homes here in East Boca Raton Florida.  Are you moving to Boca Raton in search of a home to call your own? I’d be happy to find you the perfect place to call home. Call/Text me, Lynn Pineda, at 954-464-1100 or email at LynnP@ImagineYourHouse.com

 

Absorption Rate (rate in which homes are absorbed/sold)

How are luxury homes being absorbed into the East Boca Raton luxury home market? Currently, it is showing that just under 11% of luxury homes for sale are being absorbed or bought by home buyers seeking the luxury lifestyle of East Boca Raton Florida.

 

Find Luxury Homes for Sale in East Boca Raton, city of Boca Raton limits.

 

East Boca Raton FL city limits Real Estate

 

East Boca Raton Real Estate Market Report prepared by your local East Boca Raton Realtor with eXp Realty, Lynn Pineda. Delivering Real Estate Promises, while selling homes since 2005.

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

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