DECEMBER Home of the CLHMS
TM
BOCA RATON & DELRAY BEACH F LO RI D A www.LuxuryHomeMarketing.com
2023
BOCA/DELRAY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $11,000,000+ $8,700,000 - $10,999,999
30
1
31
0
$2,900,000 - $3,499,999
53
3
62
6 30
5
$1,700,000 - $1,899,999 $1,500,000 - $1,699,999
66
5
$2,100,000 - $2,499,999 $1,900,000 - $2,099,999
41
8 36
5
$1,300,000 - $1,499,999
62
13
$1,200,000 - $1,299,999
1
Total Sales Ratio2: 10%
26
1
$4,100,000 - $4,899,999
Buyer's Market
28
1
$4,900,000 - $5,699,999
Total Sales: 61
33
1
$5,700,000 - $6,699,999
$2,500,000 - $2,899,999
Total Inventory: 604
13
0
$6,700,000 - $8,699,999
$3,500,000 - $4,099,999
58
0
35
12
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,350,000
4
3
21
145
14%
3,000 - 3,999
$1,435,000
4
4
24
155
15%
4,000 - 4,999
$2,412,500
5
6
8
119
7%
5,000 - 5,999
$2,900,000
6
7
5
68
7%
6,000 - 6,999
$3,350,000
6
7
2
35
6%
7,000+
$7,800,000
6
9
1
81
1%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
BOCA/DELRAY
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,961,875
$1,975,000
484
444
$1,932,000
$1,907,500
488
462
$2,025,000 $1,700,000
472
Inventory
$1,890,000
493
472
$2,025,000
Solds
$2,062,500
$2,212,500
$2,000,000
$2,035,000
$1,725,000
485
465
604
586
518
479
52
60
62
70
80
72
99
107
82
80
69
78
61
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2022
Nov. 2023
484
TOTAL SOLDS Nov. 2022
Nov. 2023
604 VARIANCE: 25 %
61 VARIANCE: 17 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Nov. 2022
Nov. 2023
588
$
537 VARIANCE: -9 % $
52
Nov. 2022
Nov. 2023
94.45% 94.04% VARIANCE: 0 %
SALES PRICE Nov. 2022
Nov. 2023
1.96m
$
$
1.73m VARIANCE: -12 %
DAYS ON MARKET Nov. 2022
Nov. 2023
32
23 VARIANCE: -28 %
BOCA/DELRAY MARKET SUMMARY | NOVEMBER 2023 • The Boca/Delray single-family luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 94.04% of list price in November 2023. • The most active price band is $1,200,000-$1,299,999, where the sales ratio is 34%. • The median luxury sales price for single-family homes is $1,725,000. • The median days on market for November 2023 was 23 days, down from 32 in November 2022.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
BOCA/DELRAY
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2023 Inventory
Sales
Luxury Benchmark Price 1: $500,000 $3,000,000+ $2,500,000 - $2,999,999 $2,000,000 - $2,499,999
29
1 27
1
$1,500,000 - $1,999,999
50
3
$1,000,000 - $1,499,999 $900,000 - $999,999
20
1
30
4
$750,000 - $799,999
$525,000 - $549,999 $500,000 - $524,999
1
Total Sales: 52 Buyer's Market
20
6
Total Sales Ratio2: 11%
33
1
$600,000 - $649,999
$550,000 - $574,999
Total Inventory: 456
14
3
$700,000 - $749,999
$575,000 - $599,999
64
6
$800,000 - $899,999
$650,000 - $699,999
66
4
23
7
29
2 10
3
22
4 19
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$635,000
2
2
39
268
15%
2,000 - 2,499
$810,000
3
3
5
87
6%
2,500 - 2,999
$700,000
3
4
3
36
8%
3,000 - 3,499
$1,892,000
3
4
4
31
13%
3,500 - 3,999
NA
NA
NA
0
7
0%
4,000+
$13,035,000
9
9
1
27
4%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
BOCA/DELRAY
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$797,500
$830,000
$684,500
360
340
312
$725,500
330
$795,000
48
61
60
Nov-22
Dec-22
Jan-23
Feb-23
$799,900
339
329
55
Inventory
$833,000
316
Solds
$790,000
$755,000
$781,250
$727,500
$667,000
456
432
363
326
313
306
$675,000
101
89
111
93
64
77
86
63
52
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2022
Nov. 2023
312
TOTAL SOLDS Nov. 2022
Nov. 2023
456 VARIANCE: 46 %
52 VARIANCE: -5 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Nov. 2022
$
Nov. 2023
402
476 VARIANCE: 18 % $
55
Nov. 2022
Nov. 2023
96.09% 97.65% VARIANCE: 2 %
SALES PRICE Nov. 2022
Nov. 2023
685k
$
$
728k VARIANCE: 6 %
DAYS ON MARKET Nov. 2022
Nov. 2023
31
38 VARIANCE: 23 %
BOCA/DELRAY MARKET SUMMARY | NOVEMBER 2023 • The Boca/Delray attached luxury market is a Buyer's Market with a 11% Sales Ratio. • Homes sold for a median of 97.65% of list price in November 2023. • The most active price band is $500,000-$524,999, where the sales ratio is 32%. • The median luxury sales price for attached homes is $727,500. • The median days on market for November 2023 was 38 days, up from 31 in November 2022.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3