More Home On Market, Selling A Bit Faster. New Report Just Out…
BY: STAFF REPORT | BocaNewsNow.com
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2024 MetroDesk Media, LLC) — Home prices are dropping in Boca Raton and Delray Beach — not great news for sellers. But it’s taking less time to sell a house. The takeaway from the latest Elliman Report produced by Miller Samuel Real Estate Appraisers and Consultants: if you price your house realistically, you have a pretty good chance of selling it quickly.
In Boca Raton, the average selling price of a home in the fourth quarter of 2023 was $1,412.130. That’s down less than one percent from the Q3 average selling price of $1,412.172. The average number of days on market in Boca Raton from listing to sale: 45 in Q4. It was 46 in the third quarter of 2023.
Bad news: there were 706 homes on the market during the fourth quarter of the year. That’s up 18-percent from 597 during the third quarter.
In Delray Beach — much like in the real world — things are a little different than in Boca Raton. The average selling price in the fourth quarter of 2023 was $1,190,475. That’s up 1.9-percent from Q3 when the average sales price as $1,167.793. The average number of days on market from listing to sale in Delray Beach: 40. Down 11-percent from Q3 where the average days on market was 45.
The active listing inventory in the fourth quarter of 2023 was 425. That’s up 26.9-percent from the Q3 inventory of 335.
