Sale Prices Jump, Inventory Drops
BY: STAFF REPORT
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BOCA RATON, FL (BocaNewsNow.com) — The latest Elliman report is just out and reveals that Boca Raton and Delray Beach remain exceptionally hot real estate markets, according to most metrics.
In Boca Raton, single family home sale prices are up 43.9 percent year to year. The average home sale price in the fourth quarter of 2019 was $752,875. In Q4 of 2020, the average sales price was 1,083,661. The number of sales closed was 564 a year ago. That jumped to 824 for the fourth quarter of 2020.
And if you’re thinking of selling, there is a dramatic lack of inventory. The fourth quarter of 2019 had 1,071 homes for sale. The fourth quarter of 2021 had just 573 homes for sale in Boca Raton — a year to year decrease of 63.2 percent.
In Delray Beach, the average price for the fourth quarter of 2019 was $628,548. The average price in the fourth quarter of 2020 was $770,112 for an increase of 22.5 percent. The number of homes closed in Q4 of 2019 was 291. In Q4 of 2020 that jumped to 490.
The number of homes for sale in Delray Beach also dropped year to year. It was 640 for Q4 of 2019. Just 327 homes were on the market in Q4 of 2020.
The Elliman Report is produced by Miller Samuel Real Estate Appraisers and Consultants for the Douglas Elliman firm.
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