Sales Up, Sale Prices Down For Delray and Boca Homes and Condos

BOCA RATON, FL (BocaNewsNow.com) — Douglas Ellman’s second quarter real estate report for South Florida reveals more home and condo sales in Boca Raton and Delray Beach, but those sales are at a lower price than one year ago. It is also taking a slightly longer period of time to sell real estate in the area.

Directly from the report:

DELRAY BEACH HIGHLIGHTS

 Overview

– Median price marketwide by property type moved higher as did the number of sales

– East of Federal highway saw mixed price trends but a jump in sales activity

– Luxury single family market showed stability as smaller sales size skewed price indicators to same degree

– Luxury condo market price trend indicators reflect more activity at the upper end of the market

Key Trend Metrics (compared to same year ago period)

LUXURY SINGLE FAMILY

– Median sales price declined 9.5% to $1,547,500

– Days on market was 118, up from 116
– Listing discount was 11%, up from 10.7%

– Entry threshold began at $1,070,000

LUXURY CONDO

– Median sales price slipped 1% to $640,000

– Days on market was 116, up from 73
– Listing discount was 5.8%, down from 7.7%

– Entry threshold began at $458,465

BOCA RATON HIGHLIGHTS

Overview

– Marketwide median sales prices for both property types moved higher as remainder was mixed

– Condo sales surged as inventory edged higher while single family sales declined and inventory fell sharply

– The pace of the market moved a lot faster than the same period last year

 

Key Trend Metrics (compared to same year ago period)

LUXURY CONDO

– Median sales price declined 19.8% to $842,500

– Days on market was 112 days, up from 109 days

– Listing discount was 8.3%, down from 9%

– Listing inventory increased 62.6% to 374

– Entry threshold began at $540,000

 

LUXURY SINGLE FAMILY

– Median sales price declined 9.1% to $1,995,000

– Days on market was 165 days, down from 188
– Listing discount was 11.1%, up from 10.5%

– Listing inventory fell 15.6% to 353

– Entry threshold began at $1,175,000

----------------------------------------LYFT PROMO CODE--------------------------------------
Use our Lyft promo code BNN123 for substantial discounts for your first Lyft rides. Enter the code in your app, or just click here.

---------------------------ABOUT BOCANEWSNOW.COM-----------------------

BocaNewsNow.com is the leading hyper-local news website based in and serving Boca Raton, Florida and South Palm Beach County. Our pages have been visited millions of times over our five year history of reporting, providing opinion and snark.

This is not a "mug shot" website. Arrest reports and mugshots are provided by law enforcement officials under Florida Statute. While we review all requests for removal, we are not obligated to remove reports that are a part of the public record.

When removal is appropriate, we do so at no charge. We do not accept payment for mugshot or arrest report deletion.

We remind our readers that an arrest is an accusation. Guilt or innocence is determined in a court of law. Email us at news (at) bocanewsnow.com or telephone 561-419-9520.

All Content Copyright © 2017 MetroDesk Media, LLC. All Rights Reserved.