Numbers Are Up And Down At The Same Time. Yes, That Really Is Possible.
BY: ANDREW COLTON | Editor and Publisher
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2023 MetroDesk Media, LLC) — If you’re trying to figure out whether it’s the right time to sell your house or buy a new one — the latest numbers from the Elliman Report, produced by Miller Samuel Real Estate Appraisers and Consults — suggest you should just do whatever you feel like doing.
Starting in Boca Raton, the latest numbers just out show that the average sales price for a home rose from $1,349,844 during the first quarter of 2023 to $1,416,048 for the second quarter of 2023. That’s a 4.9-percent increase. Good news, right? Well, consider this: year to year, the average selling price of a home in Boca Raton dropped 3.9-percent from $1,473,429 to $1,416,048. That’s not good news.
The listing discount — how much less than the listing price a house actually sold for — was 7.4 percent for the second quarter of 2023… that’s down from just 1.4 percent a year ago. There is currently a 2.9-month supply of homes on the market. That is up from 2.6 a year ago.
In Delray Beach, the average sales price of a home during the second quarter of 2023 was $1,276,021. That is down .5-percent from the first quarter where the average sales price was $1,281,937, yet up 3.9 percent from a year ago. Back in the second quarter of 2022, the average sale price in Delray Beach was $1,228,451.
Homes are selling in Delray Beach, despite rising interest rates. 354 homes sold during the second quarter of 2023. That’s up from 270 homes in the first quarter of the year, but down just a bit from the 373 homes that sold this time last year.
The listing discount in Delray Beach for the second quarter was 6.8-percent. That’s down from 7.4-percent during the first quarter of the year, but up quite a bit from the 2.0-percent listing discount logged during the second quarter of 2022. There is a 2.8-month supply of homes on the market in Delray Beach, that’s down from a 3.7-month supply during the first quarter of 2023, and up from a 2.1-month supply one year ago.
