How Low is the Housing Inventory in Boca Raton FL?

Written by Posted On Monday, 07 March 2022 12:39

How low is the housing inventory in Boca Raton FL and the surrounding areas?  Ridiculously low! 

 

How Low is the Housing Inventory 1

 

There is virtually nothing for sale, and when it comes up, there are often multiple offers over asking price and under contract in a day or two.

 

The last market report I did for condos in Boca Raton was June of last year.  At that time, there were 461 condos for sale in Boca.  When I say condos, included are townhouses and villas.  Today there are 246 condos for sale in Boca, almost half of last year.   That's not counting how many of those are in equity country clubs, the beach, 55+ communities or by price.  The 246 condos covers it all.  And Boca Raton has 8 zip codes!

 

Market report for single family homes in Boca Raton last June showed 335 homes for sale.  Today there are 244 single family homes for sale in Boca.  Again, it's not broken down by equity country clubs, the beach, 55+ communities or price.   That number includes everything.  

 

Median sale price for single family homes in Boca Raton is now $ 750,000.  Median sales price for condos is now $ 310,000.  This is up almost 30% from this time last year.

 

The last market report I did for the Valencias, 55+ active adult communities in Delray Beach, Boynton Beach and Lake Worth was August 2021.  At that time, there were 16 single family homes for sale.  Today there are just 7.  While this may not seem like a small number, consider there are 10 Valencia communities each with 500 and 1100!  See what I mean?

 

Is it impossible to buy a condo or a house in Boca Raton right now?  It's not impossible, but it's not easy either.  Be prepared to move quickly.  Get your ducks in a row, so to speak.  Get a copy of your account if you're a cash buyer or get preapproved by a lender.

 

Is it impossible to sell a condo or a house in Boca Raton right now?  Definitely not!  Same advice - be prepared to move quickly.  We have also seen more lease backs and extended closings these days allowing more time for sellers to find their next home.  Many buyers are flexible and will work with you.  

 

 

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Elyse Berman, PA

Top pet-friendly real estate agent in south Florida.  Providing exception services to buyers and sellers in south Palm Beach County including cities of Boca Raton, Delray Beach, Boynton Beach, Highland Beach, Deerfield Beach, Hillsboro Beach, Lake Worth, Parkland and Wellington, Florida.  

See my real estate website at BuySellHomesBocaRaton.com.

BuySellHomesBocaRaton.com

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