BOCA RATON, FL (BocaNewsNow.com) — National real estate firm Douglas Elliman just released its quarterly report and it is not good for luxury homes in Boca Raton and Delray Beach — but if you own a condo, you should be smiling.
The median sales price of a luxury single family home in Delray Beach dropped 19.6 percent — from this time last year — to $1,400,000. Listing inventory declined 7.1 percent.
In Boca Raton, the median sales price of a luxury single family home dropped 10.3-percent to $1,895,000. Listing inventory in Boca Raton dropped 16.9-percent.
In a notable standout, the median price of a luxury condo in Delray Beach skyrocketed 40.3-percent in just a year. The median sales price now is $754,000.
In Boca Raton, the year-to-year median sales price declined .3-percent to $900,000.
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