Boca Raton FL Market Outlook | Oct 2020
Boca Raton Florida market outlook looks very good. It looks good in the surroudning cities of Delray Beach, Highland Beach and Boynton Beach too.
2020 has been a differene year, but it has caused people to reevaluate. As a result, the real estate market in south Florida is very active. Very low interest rates, low inventory, higher taxes in the northeast and corporations allowing people to work fromhome are what is driving this market. People feel the need to get iour of the cities and move to the suburbs. All of this is driving prices up, especially in all-age communities.
I say that becuase we have a lot of 55+ communities in Delray Beach and Boynton Beach too. There tends to be a bit more inventory in the active adult communities, but it is also low.
People who have stayed in their homes in Boca Raton are putting them up only to find themselves with a lot of showings and multiple offers, oftenabove asking price. The real estate market is in a frenzy in Boca. Known for its schools and an easy, great way of life, Boca Raton homes are selling and selling fast. Buyers need to move quickly. Be prepared before you start looking. Get preapproved and get yourself a good buyer's agent, because you're going to need it. We are seeing this in gated communities in Boca Ratonas well as non-gated communities.
You can read the latest Boca Raton Real Estate Market Report here.
Delray Beach and Boynton Beach
The neighboring cities of Delray Beach and Boynton Beach are seeing much the same - low inventory, extremely low mortgage rates and higher prices. People who want to sell are doing it now. It's pretty much the same in all of south Florida.
Known for it's pet-friendly 55+ communities Delray Beach and Boynton Beach are seeing a surge in activity. It's like people have to get on with their lives. They are getting top dollar for their homes up north, and coming to settle in to a new normal in an active adult community.
With regard to the market reports, you can read the latest Delray Beach FL Real Estate Market Report here as well as the latest Boynton Beach FL Real Estate Market Report.
Highland Beach
Highland Beach is a small enclave along the Atlantic OCean set between Boca Raton and Delray Beach Sandy beaches and salt water, That's exactly what Highland Beach is. Highland Beach is one of the most beautiful areas you will ever see. Oceanfront condos and townhomes, Intracoastal homes with docks make this small enclave a paradise.
Inventory is low in Highland Beach Florida. It's the same story. People are thinking, if we're going to do it, let's do it now. At least, that's what it seems to me. And why not? Have you been dreaming of a beachfront condo forever? Now is the time!
You can read the latest Highland Beach FL Real Estate Market Report here.
Final Thoughts
In my opinion, this year has made people stop and think. We've all had a wak-up call. Record-low interest rates and high buyer demand are the name of the game. If you're looking to buy or sell a home in Boca Raton or one of the neighboring towns, you'll probably want to do it sooner than later. Maybe now this is the time for you.
