East Boca Raton Real Estate Market Stats
Single Family Home sales in East Boca Raton Florida during May 2017
Find out about the East Boca Raton FL Real Estate Market in my monthly publication on home sales in East Boca Florida in the city of Boca Raton. How were home sales in East Boca Raton during May 2017? What’s selling?! As you Keller Williams Boca Raton Realtor, I discuss it all here in my most recent market report.
In today’s monthly market report we’ll uncover the following:
- 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 before homes were selling in East Boca Raton?
- The absorption rate (level of supply/inventory) in East Boca Raton.
- Is it a Seller’s Market, Balanced Market or Buyer’s Market in East Boca Raton?
Do you want to find out more about the East Boca Raton Real Estate market? Then be sure to reach out to me via email, phone or text – I’ll get back to you promptly.
Today’s East Boca Raton Real Estate market report is for May 2017. Let’s find out about home sales in East Boca Raton in city limits. The particulars:
Home sales increased during May, which made a great many Boca Raton home Sellers happy when they were trying to sell a home in Boca Raton and Boca Raton home Buyers were thrilled too, when they were able to buy a home in Boca Raton!
During April, only 81 homes sold in East Boca Raton, while in May that number increased to 110 homes sold.
East Boca Raton continues to experience a Buyer’s Real Estate market. A Buyer’s market favors those who want to buy a home in East Boca Raton. Please keep in mind however, that if you’re selling a home, pricing your home right can get your home sold no matter what the local market may be experiencing, as I describe in my article here; “Why is my Home’s Initial List Price so Important?”
East Boca Raton Real Estate Market Summary for May 2017, in comparison:
|wdt_ID||Market Stats||Median Sales Price||SQ Ft Price||Homes Sold||DOM||Distressed||Supply||Sellers/Balanced/Buyers|
|1||Mar 2017||$500,000||$185.00||107||44 days||5.61%||7.28||Buyer's Market|
|2||Apr 2017||$480,000||$233.10||81||43 days||1%||7.47||Buyer's Market|
|3||May 2017||$500,000||$225.78||110||43 days||7.27%||6.96||Buyer's Market|
Absorption and Inventory Supply Reported in East Boca Raton
How many homes are available for sale to meet the demand of Buyers? How many months would it take to sell the current inventory of homes for sale should no other homes hit the market for sale in East Boca Raton, based upon prior month home sales and how homes listed for sale are absorbed (sold)?
The current absorption rate for May is 14.36% and the inventory supply is 6.96 showing it would take home Sellers in East Boca just under 7 months to sell the current inventory of homes, should no other homes come to market! These rates both signal a continued Buyer’s market in East Boca Raton.
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. 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.
Typically, when there is less than 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.
Now, more than ever, when you’re selling a home in a Buyer’s Real Estate market, it’s important for homeowners to prepare their home well for selling, as I describe here in my Real Estate article; “Stage Like a Pro: 3 Ways to Set your Home up to Sell“
The absorption rate I report here is for East Boca Raton and not the entire Boca Raton Florida city. Also, keep in mind that absorption rates can vary by neighborhood and will vary by city also. When selling a home, it’s important to know your neighborhood’s absorption rate so you know how to best position your home for sale.
Call me/text me 954-464-1100 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.
Distressed Property Sales includes Short Sales and REO/Lender/Bank owned homes. The overall distressed rate during May came in at just over 7%, which is an increase from last month’s reported sales.
Historical Homes Sales Price Trend Data For East Boca Raton
Neighborhoods selling in East Boca Raton Florida
Boca Raton Square home Sellers celebrated again this month of May with selling the most homes in its neighborhood – sold 9 homes; coming in as the top selling East Boca Raton neighborhood.
Are you moving to Boca Raton and would love to live in East Boca Raton? – perhaps Boca Raton Square is perfect for you! Or perhaps one of the other top selling East Boca Raton neighborhoods will be a better fit for you in Amberwoods, Hidden Valley, Hillsboro Park, Winfield Park, Palm Beach Farms or the luxury neighborhoods of Les Jardins and Royal Palm Yacht & Country Club
More about selling your home in East Boca Raton
Do you want to know the value of your home in East Boca Raton? Have you been looking at common Real Estate website portals such as Zillow, Trulia and more to determine your home’s value? STOP. These websites prove to be grossly inaccurate. When you really think about it, how can a website algorithm know what’s in the interior of your home or know that you just replaced your roof, added a pool and upgraded your landscaping? Impossible. Now, it’s starting to make more sense, I’m sure.
I can tell you what your home is worth in today’s South Florida Real Estate Market after speaking with you. My recommended price will be based upon my Real Estate experience and skill in setting accurate home selling prices so you can actually sell your home. I have a track record of very high list price to sales price ratios and routinely being spot on in comparison to Real Estate appraisals.
Find out how I’d help you when you’re thinking; “ I’m considering selling my home? ” – Lynn Pineda
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 Boca Raton” or “I need to buy a home in Boca Raton”. Call/Text Lynn at 954-464-1100 or email Lynn at LynnP@ImagineYourHouse.com.
East Boca Raton Florida Real Estate Market Report for May 2017 written by your neighborhood Keller Williams East Boca Raton REALTOR®, Lynn Pineda with Keller Williams Realty. Findings based upon local MLS Statistics. Accuracy is not guaranteed. Top East Boca Raton REALTOR® provided. Real Estate Agent delivering on promises.
Lynn hopes you enjoyed the most recent market report on homes selling in East Boca Raton Florida. You’ll also find Lynn selling homes in Southeast Florida in the cities of Boynton Beach, Coral Springs, Coconut Creek, Delray Beach, Deerfield, Parkland, Margate, Sunrise and Tamarac and surrounding cities within Broward and south Palm Beach counties.