Delray Beach Addresses Continue To Be Less Valuable Than Boca Raton Addresses.
BY: ANDREW COLTON | Editor and Publisher
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2024 MetroDesk Media, LLC) — Boca Raton addresses are more desireable than Delray Beach addresses, according to the latest Elliman report, produced by Miller Samuel Real Estate Appraisers and Consultants. The report reveals that the average price of a single-family home in Boca Raton skyrocketed when comparing the first quarter of 2024 with the first quarter of 2023, but it dropped in Delray Beach. Let’s break it down:
The average sale price of a home in Boca Raton during the first quarter of 2023 was $1,349,844. That jumped to $1,852,707 for the first quarter of 2024. The change represents a 31.2-percent increase. It’s also taking less time to sell in Boca Raton. The average “days on market” in Q1 of 2023 was 60 days. It dropped to 57 for Q1 of 2024.
For Condos, the news is similar. The average selling price for a condo in Boca Raton during Q1 of 2023 was $2,096,475. That rose to $2,419,051 for Q1 of 2024. Condos are selling faster now. The average days on market for Q1 2023 was 94. It was 89 for Q1 in 2024.
In Delray Beach, the average selling price for a home during Q1 of 2023 was $1,281,937. That dropped 6.8 percent to $1,109,576 for the first quarter of 2024. Unlike Boca Raton, it’s taking longer to sell property in Delray Beach. The average days on market in Q1 of 2023 was 53. That rose to 59 for Q1 of 2024.
Condo prices, however, rose in Delray Beach. The average selling price of a condo in Delray Beach was $380,879 during Q1 of 2023. That jumped 37.3-percent to $449,402 for Q1 of 2024. The average days on market barely moved — it was 50 in Q1 of 2023 and 51 in Q1 of 2024.
