arrow updown

BUYER’S MARKET? Boca Raton, Delray Beach Home Sale Prices Drop

Boca Raton Delray Beach Florida News Palm Beach County

BUT… YOU CAN CALL IT ANYTHING YOU WANT! QUARTER TO QUARTER IS DOWN. YEAR TO YEAR IS UP!

TO QUOTE BILLY JOEL: “SHADES OF GRAY WHEREVER I GO…”

arrow updown

BY: STAFF REPORT | BocaNewsNow.com

BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2022 MetroDesk Media, LLC) — Just like everything else in 2022, you can interpret the latest housing sale numbers for Delray Beach and Palm Beach County any way that fits your own personal narrative! Are you a “glass half empty” person? Sale prices are down quarter to quarter! Are you a “glass half full” person? They’re up year to year!

The latest Elliman Report, compiled with data from Miller Samuel Real Estate Appraisers and Advisors, shows that the market is, in a word, unstable. As Billy Joel famously sang: “Shades Of Gray, Wherever I Go. The More I Find Out, The Less That I Know.” Here’s the data:

BOCA RATON

The average sales price in Quarter 3 of 2022 is $1,264,596. That’s down 14.2 percent from Quarter 2, but up 18.4 percent from Quarter 3 of 2021.

The average price per square foot in Quarter 3 is $377. That’s down 6.9 percent from Quarter 2, but up 24 percent from Quarter 3 of 2021.

The average days on market from the last list date is 27 in Quarter 3 of 2022. It was 22 in Quarter 2. It was 26 a year ago.

Listing inventory is increasing. 647 homes were on the market in Boca Raton for Quarter 3 of 22. There were 545 homes listed in Quarter 2 of 2022. And 359 homes listed a year ago.

DELRAY BEACH

The average sales price in Quarter 3 of 2022 is $1,063,897. That’s down 13.4 percent from Quarter 2, but up 1.4 percent from Quarter 3 of 2021.

The average price per square foot in Quarter 3 is $444. That’s down 8.5 percent from Quarter 2, but up 16.2 percent from Quarter 3 of 2021.

The average days on market from the last list date is 26 in Quarter 3 of 2022. It was 21 in Quarter 2. It was 28 a year ago.

Listing inventory is also increasing in Delray Beach. 307 homes were on the market in Delray for Quarter 3 of 22. There were 263 homes listed in Quarter 2 of 2022. And 194 homes listed a year ago.

LOCAL JOURNALISM SUPPORTER.

Paul Saperstein

 

Content copyright © 2022 Metro Desk Media, LLC. All Rights Reserved. BocaNewsNow.com ® is a registered trademark of MetroDesk Media, LLC. For our intellectual property, terms, and conditions, read hereBroadcast stations must credit BocaNewsNow.com on air. Print must refer to BocaNewsNow.com. Online must link to BocaNewsNow.com. Contact news (at) bocanewsnow.com. Call 561-576-NEWS (6397). Arrest reports are police accusations. Guilt or innocence is determined in a court of law. 

Tagged