Boca's Very Bad Real Estate Market Is A Buyer's Dream (Unless You Have To Sell)

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BOCA RATON, FL (BocaNewsNow.com) — The latest market report is not good news for homeowners trying to sell in Boca Raton.
Released by New York’s Douglas Elliman Real Estate — produced quarterly in conjunction with independent appraisal firm Miller Samuel — the latest report shows homeowners trying to sell in Boca Raton are in for a long struggle. There are 1,431 homes on the market (as of the report being issued) with the average days on market coming in at 81. That’s up from the first quarter. Homes are selling, on average, 7.4 percent lower than their original list price. The average sales price: $708,396 or $209 a square foot.
For luxury homes — considered the upper ten percent of sales — the average price is $1,361,121, with days on market rising to 109. There are 230 homes on the market in the “luxury home” category in Boca Raton. Luxury homes are selling, on average, 9 percent lower than list price.
Around Boca, the MLS indicates this is very much a buyers market. There are 21 homes for sale in Saturnia, 44 homes for sale in Boca Falls, 160 in Boca West, 20 in Woodfield Hunt, 117 in Broken Sound, 63 in The Oaks, 98 in Polo Club, and 55 in The Bridges (technically Delray). This is just a brief sampling of popular area communities — check sites like Zillow for the latest numbers.