BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2025 MetroDesk Media, LLC) — The South Palm Beach County housing market showed signs of cooling in the third quarter of 2025, with both Boca Raton and Delray Beach reporting declines in prices and sales volumes across multiple property types, according to new data from Miller Samuel Real Estate Appraisers & Consultants. Analysts say the slowdown follows a two-year surge in pandemic-era demand that has begun to level off amid tighter lending conditions and buyer fatigue.
In Boca Raton, the average single-family home price fell 10.5% from the previous quarter to about $1.5 million, while condo prices saw a steeper 29.4% decline to an average of $551,000. The number of condo sales dropped 16.6%, and single-family closings were down 7.7% from the spring. Luxury listings — the top 10% of the market — were hit hardest, with the average luxury single-family sale falling nearly 20% to $5.6 million. Days on market lengthened modestly, averaging 57 for single-family homes and 86 for condos.
Delray Beach’s market showed mixed trends. Average single-family prices edged up slightly to $1.35 million — a 0.3% quarterly gain — but median prices held flat at $816,500. Condo prices, meanwhile, fell sharply, with the average dropping nearly 18% to $318,000. Despite lower prices, sales volume dipped, with total condo transactions down 4.5% and single-family closings down nearly 14%. Inventory levels declined modestly, suggesting that sellers are pulling listings in response to softer demand.
The luxury segment of Delray’s market diverged from Boca’s. High-end single-family properties posted an average sale price of $5.2 million, a 17% increase from the prior quarter and 40% higher than a year earlier. However, the median luxury price fell more than 20% to $2.95 million, indicating that fewer ultra-premium transactions drove the average higher. Luxury condos did not fare as well, with the average price down nearly 23% to $1.2 million, and days on market rising by a third to 104.
Market watchers note that both cities remain attractive to out-of-state buyers, particularly from the Northeast, but affordability pressures and elevated mortgage rates have slowed bidding competition.
“After two years of frenzy, the market is finding equilibrium,” said Jonathan J. Miller, president of Miller Samuel. With inventory levels still relatively lean — four months of supply in Boca and just over five in Delray — analysts expect a more balanced, but slower, market through the end of the year.
