East Boca Raton FL Real Estate Market Stats reported for ending 1st Qtr 2018
Find out about the East Boca Raton, Florida Real Estate Market in this 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 ending the 1st Qtr 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 the 1st Quarter ending 2018. Let’s find out about homes sold in East Boca Raton.
69 single family homes averaged selling during the 1st quarter ending 2018 in East Boca Raton Florida. The median sales price being $604,000, which was down from the first of the year in January.
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 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 11% 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 11% was the absorption rate for 1st Quarter ending 2018 – reflects a continuing 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
The supply of homes shows it would take 9.26 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 ending 1st quarter 2018 decreased to 9.26 months – down from the beginning of 2018.
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 ending 1st Quarter 2018 came in at just over 10%.
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
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 ending 1st Quarter 2018 written by your neighborhood East Boca Raton Realtor, Lynn Pineda with eXp Realty, LLC 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.