But Prices Increasing, According To Report Just Released Thursday.
BY: STAFF REPORT | BocaNewsNow.com
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2023 MetroDesk Media, LLC) — Houses are taking longer to sell in Boca Raton and Delray Beach than this time last year, but when houses do sell, they’re selling for more. The latest Elliman Report produced by Miller Samuel Real Estate Appraisers reveals new details on the South Palm Beach County real estate market.
The average sales price for a home in Boca Raton is now $1,421,172. That’s up from this time last year, when the average sales price was $1,264,596. It’s also up from last quarter, when the average sold price was $1,416,048. The average number of days on the market it’s taking a house to sell is now 46 — that’s up from 27 in Q3 of 2022. Inventory is sitting at 597 homes. That’s down from 647 IN Q3 in 2022.
For condos in Boca, the average sales price in the third quarter of 2023 was $522,543. That’s dramatically up from this time last year when the average sales price was $467,283.
In Delray Beach, the average sales price for a home is $1,167,793. That’s up from a year ago, but notably down from the second quarter of 2023 — when the average sales price was $1,276,021. The average time it’s taking a house to sell in Delray Beach is now 45 days. That’s up from 26 this time last year. There are 335 homes on the market — up from 307 during Q3 of 2022.
For condos in Delray Beach, the average sales price during Q3 of 2023 was $325,289. This time last year the average sales price was $322,973.
