Delray Beach Also Hot. Pandemic Great For South Florida Housing Market.
BY: STAFF REPORT
Copyright © 2021 MetroDesk Media, LLC
BOCA RATON, FL (BocaNewsNow.com) — The latest Elliman report is just out and shows that home sales in South Palm Beach County are rising faster than social media users can pump up the stock of a mall game shop that was barely cool when it was cool in the 80s.
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In Boca Raton, closed home sales jumped 46.1 percent year to year, with inventory dropping 46.5 percent. The median sales price has jumped 14.7 percent year to year. And the days on the market — the amount of time it takes a home to sell — dropped by 17 days.
By the numbers: the average sales price in Boca Raton is now $1,083,661 which is a jump of 31.8 percent. The average sales price was $752,875 in Q4 of 2019. The average number of days on market dropped from 86 in Q4 of 2019 to 69 at the end of 2020. The number of homes for sale also dropped. It was 1,071 in Q4 of 2019 and just 573 in Q4 of 2020.
In Delray Beach, the number of sales closed jumped 68.4 percent year to year. The average sales price rose from $628,548 to $770,112. The average luxury home price rose from $2,100,191 to $2,556,776. The “entry price threshold” for a “luxury” home jumped from $1,050,000 in Q4 of 2019 to $1,700,000 in Q4 of 2020.
There is a significant amount of data to review and consider if you are following local real estate. Read it below. If you are reading in a news app and the PDFs do not appear, just click here.bocaraton-q4_2020
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