Q1-2020
Report
Boca Raton Sales
Boca Raton Condo Matrix
Q1-2020
%Δ (QTR)
Q4-2019
%Δ (YR)
Q1-2019
Average Sales Price
$384,369
17.6%
$326,828
7.7%
$356,731
Average Price Per Sq Ft
Condo
Dashboard YEAR-OVER-YEAR
+ 10.3%
Prices Median Sales Price
+ 10.2%
Sales Closed Sales
- 13.0%
Inventory Total Inventory
- 1 day
Marketing Time Days On Market
Single Family Dashboard YEAR-OVER-YEAR
+ 9.4%
Prices Median Sales Price
+ 18.5%
Sales Closed Sales
- 28.4%
Inventory Total Inventory
+ 11 days
Marketing Time Days On Market
Median Sales Price
$230
9.0%
$211
3.6%
$222
$240,000
6.7%
$225,000
10.3%
$217,500 597
658
-3.5%
682
10.2%
Days on Market (From Last List Date)
79
9.7%
72
-1.3%
Listing Discount (From Last List Price)
6.8%
Listing Inventory (Active)
1,329
-1.4%
1,348
-13.0%
6.1
3.4%
5.9
-20.8%
7.7
1,671
7.9%
1,549
4.0%
1,607
Number of Sales (Closed)
Months of Supply Average Square Feet (Closed)
6.5%
Boca Raton Condo
Median Sales Price
80 6.8% 1,527
Number of Sales
$300K
900
$240K
800
$180K
700
Boca Raton Condo
Median Sales Price $120K
Number of Sales600 900 500
$300K $60K $240K $0 $180K
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Condo listing inventory fell year over year for six straight quarters with the most significant decline in the current quarter
•
Single-family listing inventory declined annually over the past four quarters at a rising rate
•
Single-family median sales price increased annually for the eighth time in nine quarters
700
Boca Raton Single Family Matrix
Q1-2020
%Δ (QTR)
Q4-2019
%Δ (YR)
Q1-2019
$120K Average Sales Price
$840,655
11.7%
$752,875
9.8%
600 $765,708
$232
6.9%
$217
5.0%
$221 500
$492,250
3.6%
$475,000
9.4%
$450,000
Average Price Per Sq Ft $60K Median Sales Price $0
400
Number of Sales (Closed) 2012 2010 2011 2013 2014 576 2015 2.1% 2016 2017 564 2018 18.5% 2019 2020 486 Median Sales Price Number of Sales Boca Raton Single Family 85 -1.2% 86 14.9% 74 Days on Market (From Last List Date) 900 7.1%
$625K Listing Discount (From Last List Price)
6.7%
Listing Inventory (Active)
1,026
-4.2%
1,071
-28.4%
5.3
-7.0%
5.7
-39.8%
3,624
4.4%
3,472
4.8%
$500K
Months of Supply
$375K Average Square Feet (Closed)
7.0%
Boca Raton Single Family
Median Sales Price $250K
1,432 780
8.8
660 3,457
Number of Sales540 900 420
$625K $125K
780 300
$500K $0 $375K
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
660
$250K
540
$125K
420 300
$0
•
800 400
2010
2011
Median Sales Price Condo
2012
2013
2014
2016
Boca Raton Luxury
Single Family
Final two weeks of March 2020 • While the number $3.0M of sales rose year over year for both property types, it did not reflect the market conditions of $2.5M the final two weeks of the quarter. Real estate
$2.0M Median Sales Price Condo Single Family $.15M
2015
2017
2018
2019
2020
Number of Sales
Condo
Single Family
market participants became fully aware of the 100 Coronavirus global pandemic after two significant rate cuts by the Federal Reserve and the state stay88of at-home orders. As a result, the final two weeks
76 Number of Sales Condo Single Family 64
Boca Raton Luxury
$3.0M $1.0M $2.5M $500K $2.0M $.15M
100 52
Prepared by Miller Samuel Real Estate Appraisers & Consultants 2012
2013
2014
2015
2016
2017
2018
2019
2020
88 40 76 64