East Boca Raton FL Single Family homes sales for the 3rd Qtr 2019

 

Selling a home in Boca Raton

 

How did homes sell in East Boca Raton FL for the 3rd 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 3rd qtr for 2019.

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

 

  • How many homes sold in East Boca Raton?
  • What is the Median home sales price in East Boca Raton?
  • How long did it take for homes to sell in East Boca Raton?
  • What’s the inventory level (supply) of homes available for sale?
  • What’s the absorption rate in East Boca Raton?
  • And is it a Seller’s Market, Balanced Market or Buyer’s Market in East Boca Raton Florida?

 

Number of Homes Sold

Ending the 3rd qtr of 2019, 282 homes sold, averaging 94 homes sold a month, which is a decrease from the 2nd quarter 2019.

Most homes sold in these price point ranges:

      • 31 homes sold in range of $400,000 – $450,000
      • 37 homes sold in range of $500,000 – $600,000
      • 64 homes sold in range of $1,000,000

 

282 homes sold during the 3rd qtr ending 2019, which averaged selling 94 homes a month

 

Home Sales in Boca Raton

 

Median Sales Price

$567,500 (down from 2nd qtr at $610,000) was the median sales price, which reflects a high of $12,105,000 and a minimum of $80,000. Luxury home sales will be reported on later within the article. Stay tuned.

 

 

$567,500 was the median sales price ending the 3rd qtr 2019 in East Boca Raton. down from both 2nd and 1st quarter’s 2019.

 

Home Sales Price in Boca Raton Florida

Days on the market (DOM) before homes sold

Homes were on the market for 53 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 on par to the 2nd quarter supply of homes which reflected just over 5 months also ; a reflection of 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 just under 19% of homes are being “absorbed” by these home Buyers; another borderline 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.

 

 

 

It continues into 3rd quarter – 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.

 

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 Caribbean Keys, Royal Palm Yacht and Country Club, Boca Marina, Boca Harbour, Boca Raton Riviera, The Sanctuary, Spanish River Land, Boca Harbour Island, Boca Villas, Lake Rogers Isle, Les Jardins, Por La Mar, and Old Floresta to name a few, had the luxury homes sold ending the 3rd quarter of 2019.

Number of Homes Sold

Ending the 3rd qtr of 2019, 64 luxury homes sold in East Boca Raton averaging 21 a month – (down from 84 sold in 2nd qtr).

 

Median Sales Price

$1,822,500  was the median sales price of luxury homes during 2nd quarter with the highest price point at $12,105,000.

 

Days on the Market (DOM)

Luxury homes in East Boca Raton where on the market for a median of 107 days, where the highest priced home took 858 days to sell.

 

Supply of Homes

There is just over a 11 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 11 months for the luxury home Seller to sell their home, compared to a 9 months supply during the 2nd 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 over 8% 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.

 

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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