East Boca Raton FL Real Estate Market Stats
Single Family Home sales in East Boca Raton Florida during October 2017. Find out about the East Boca Raton FL Real Estate Market in my monthly publication on home sales in East Boca Florida in the city of Boca Raton. How were home sales in East Boca Raton during October 2017? What’s selling?! As you Keller Williams Realty Boca Raton Realtor, I discuss it all here in my most recent market report.
In today’s monthly market report we’ll uncover the following:
- The number of single family homes sold in East Boca Raton.
- The median home prices in East Boca Raton.
- The median square foot prices in East Boca Raton.
- How many days on the market before homes were selling in East Boca Raton?
- The absorption rate (level of supply/inventory) in East Boca Raton.
- Is it a Seller’s Market, Balanced Market or Buyer’s Market in East Boca Raton?
Do you want to find out more about the East Boca Raton Real Estate market? Then be sure to reach out to me via email, phone or text – if I miss your call, know that I’ll get back to you promptly.
Today’s East Boca Raton Real Estate market report is for October 2017. Let’s find out about single family home sales in East Boca Raton within the city limits. The particulars:
Home sales shot back up from the decline in September to having sold 81 homes during October still signaling a Buyer’s market. Please keep in mind however, that if you’re selling a home, pricing your home right can get your home sold no matter what the local market may be experiencing, as I describe in my article here; “Why is my Home’s Initial List Price so Important?”
81 single family homes sold in East Boca Raton during October – a bump upward from the September drop of home sales in East Boca Raton.
East Boca Raton Real Estate Market Summary for October 2017, in comparison:
wdt_ID MARKET STATS MEDIAN SALES PRICE SQ. FT. PRICE HOMES SOLD DOM DISTRESSED SUPPLY SELLERS/BALANCED/BUYERS 1
Absorption and Inventory Supply Reported in East Boca Raton
How many homes are available for sale to meet the demand of Buyers in East Boca Raton Florida? The supply of homes or inventory level describes Absorption rates; how many homes are available for sale to meet the demand of Buyers. It illustrates how many months it would take to sell the current inventory of homes for sale should no other homes hit the market for sale in East Boca Raton, based upon prior month home sales and how homes listed for sale are absorbed (sold).
Supply/Inventory: currently, should no other homes enter the market for sale, it would take 7.49 months to sell the current supply of homes/inventory level; still a strong indicator for East Boca Raton Buyers in a Buyer’s market. These rates show East Boca Raton Real Estate’s market inch back towards it’s longer yearly trend of a Buyer’s market.
The supply of homes for sale this month again increased upward to 7.49 months; home Buyers searching for a home to buy in East Boca Raton have a plentiful inventory of homes to select from.
The current absorption rate for October is 13.36%. Absorption rates measure the rate in which the current inventory supply will be absorbed into the market based upon prior months of home sales, which will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market. Just under 14% of the homes listed for sale were absorbed by home Buyers which reflects a Buyer’s market in East Boca Raton.
Absorption rates measure the rate in which the current inventory supply will be absorbed into the market based upon prior months of home sales, which will determine whether we’re in a Seller’s, Buyer’s or Balanced/Stable market. Typically,absorption rates of 20% and higher reflect a Seller’s Market and 15% and under reflect a Buyer’s market, while a Balanced market hovers in between the two.
Typically, when there is less than 6 months of inventory supply we’re in a Seller’s Market, 5-6 months of inventory supply we’re in a Balanced/Stable market and over 6 months inventory supply of homes reflects a Buyer’s market.
The absorption rate I report here is for East Boca Raton and not the entire Boca Raton, however, keep in mind that absorption rates can vary by neighborhood and will vary by city also. When selling a home, it’s important to know your neighborhood’s absorption rate so you know how to best position your home for sale.
Call me/text me 954-464-1100 now or email me, and I can tell you your local neighborhood absorption rate so you know how to best position your East Boca Raton home for sale.
Distressed Property Sales includes Short Sales and REO/Lender/Bank owned homes. The overall distressed rate during October came in under 4%.
Neighborhoods selling in East Boca Raton Florida
During October, Boca Raton Square came out on top as the top selling neighborhood in the city limits of East Boca Raton having sold 8 homes. Are you moving to Boca Raton and would love to live in East Boca Raton with easy access to downtown and all that the city of Boca Raton has to offer? – perhaps Boca Raton Square would be a great place for you to call home!
More about selling your home in East Boca Raton
Do you want to know the value of your home in East Boca Raton? Have you been looking at common Real Estate website portals such as Zillow, Trulia and more to determine your home’s value? STOP. These websites prove to be grossly inaccurate. When you really think about it, how can a website algorithm know what’s in the interior of your home or know that you just replaced your roof, added a pool and upgraded your landscaping? Impossible. Now, it’s starting to make more sense, I’m sure.
I can tell you what your home is worth in today’s South Florida Real Estate Market after speaking with you. My recommended price will be based upon my Real Estate experience and skill in setting accurate home selling prices so you can actually sell your home. I have a track record of very high list price to sales price ratios and routinely being spot on in comparison to Real Estate appraisals.
Find out how I’d help you when you’re thinking; “ I’m considering selling my home? ” – Lynn Pineda
Find out – “how much is my home worth?” Call for your complimentary analysis of your home’s value.
Book an Appointment Now to learn more about the local East Boca Raton Real Estate Market or when you’re thinking; “I need to sell my home in Boca Raton” or “I need to buy a home in Boca Raton”. Call/Text Lynn at 954-464-1100 or email Lynn at LynnP@ImagineYourHouse.com.
East Boca Raton Florida Real Estate Market Report for October 2017 written by your neighborhood Keller Williams East Boca Raton REALTOR®, Lynn Pineda with Keller Williams Realty. Findings based upon local MLS Statistics. Accuracy is not guaranteed. Keller Williams East Boca Raton REALTOR® provided. Real Estate Agent delivering on promises.
Lynn hopes you enjoyed the most recent market report on homes selling in East Boca Raton Florida. You’ll also find Lynn selling homes in Southeast Florida in the cities of Boynton Beach, Coral Springs, Coconut Creek, Delray Beach, Deerfield, Parkland, Margate, Sunrise and Tamarac and surrounding cities within Broward and south Palm Beach counties.