BOCA RATON & D E LRA Y B E A CH F LO R I D A –January 2019–
www.LuxuryHomeMarketing.com
BOCA/DELRAY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | DECEMBER 2018 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $7,000,000+ $6,000,000 - $6,999,999
$3,500,000 - $3,999,999
$1,150,000 - $1,199,999 $1,100,000 - $1,149,999
Buyer's Market Total Sales Ratio2: 4%
31
1 26
2
70
1 61
3
142
11
$1,400,000 - $1,499,999
$1,200,000 - $1,249,999
Total Sales: 28 44
$1,500,000 - $1,999,999
$1,250,000 - $1,299,999
29
1
$2,000,000 - $2,499,999
$1,300,000 - $1,399,999
Total Inventory: 626
2
$3,000,000 - $3,499,999 $2,500,000 - $2,999,999
12
1
$5,000,000 - $5,999,999 $4,000,000 - $4,999,999
51
0
37
3
41
0 31
0 12
0
22
2 1
17
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,647,500
3
3
2
22
9%
3,000 - 3,999
$1,712,500
4
4
2
53
4%
4,000 - 4,999
$1,477,500
5
4
4
70
6%
5,000 - 5,999
$1,630,035
5
5
3
116
3%
6,000 - 6,999
$1,720,000
5
6
8
99
8%
7,000+
$3,910,000
5
8
9
262
3%
The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory. 1
BOCA/DELRAY
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
Inventory
Solds
$2,150,000
$1,925,000
$1,925,000 $1,580,000
$1,512,500
634
575
24 Dec-17
$1,640,000
28 Jan-18
$1,470,000
$1,431,000
640
637
632
$1,731,250
37
36
Feb-18
Mar-18
638
42 Apr-18
610
56
587
44
May-18
$1,400,000
Jun-18
Jul-18
32
29
Aug-18
Sep-18
34 Oct-18
$1,735,000
626
596
588
572
568
49
$1,630,000
$1,590,000
24
28
Nov-18
Dec-18
MEDIAN DATA INVENTORY November
December
596
626 VARIANCE: 5 %
SALE PRICE PER SQFT. November
December
277
334 VARIANCE: 21 %
$
$
SOLDS November
December
24
28 VARIANCE: 17 % SALE TO LIST PRICE RATIO November
December
90.71% 93.92% VARIANCE: 4 %
SALES PRICE November
1.63m
$
December
1.74m VARIANCE: 6 % $
DAYS ON MARKET November
December
107
179 VARIANCE: 67 %
BOCA/DELRAY MARKET SUMMARY | DECEMBER 2018 • The Boca/Delray single-family luxury market is a Buyer's Market with a 4% Sales Ratio. • Homes sold for a median of 93.92% of list price in December 2018. • The most active price band is $1,150,000-$1,199,999, where the sales ratio is 9%. • The median luxury sales price for single-family homes has increased to $1,735,000. • The median days on market for December 2018 was 179 days, up from 107 in November 2018.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Historical data before August 2017 does not account for listings taken off the market.
3
BOCA/DELRAY
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | DECEMBER 2018 Inventory
Sales
Luxury Benchmark Price 1: $500,000 $3,000,000+ $2,500,000 - $2,999,999
27
2 1
$2,000,000 - $2,499,999
24 37
20
25
1
27
1 23
1
33
3
41
2
$575,000 - $599,999
29
3
$550,000 - $574,999
13
3
$525,000 - $549,999 $500,000 - $524,999
52
2
$650,000 - $699,999 $600,000 - $649,999
Total Sales Ratio2: 8%
5
$900,000 - $999,999
$700,000 - $749,999
Buyer's Market
2
$1,000,000 - $1,499,999
$750,000 - $799,999
Total Sales: 33
2
$1,500,000 - $1,999,999
$800,000 - $899,999
Total Inventory: 398
16
25
3 2
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$650,000
2
2
13
160
8%
2,000 - 2,499
$1,205,000
3
3
4
62
6%
2,500 - 2,999
$550,000
3
4
1
59
2%
3,000 - 3,499
$590,000
3
3
3
41
7%
3,500 - 3,999
$1,400,000
3
4
5
17
29%
4,000+
$2,300,000
3
4
7
57
12%
The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory. 1
BOCA/DELRAY
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$900,000 $807,500
37 Dec-17
$855,000
$710,000
$632,500
437
431
30 Jan-18
Solds
$872,500
$760,000
$685,000
406
Inventory
$779,500
$750,000
$832,500 $705,000
$609,000
406
404
32
55
Feb-18
Mar-18
383
52 Apr-18
367
354
49
45 May-18
Jun-18
36
23
Aug-18
Sep-18
34
Jul-18
398
389
386
344
328
34
Oct-18
32
33
Nov-18
Dec-18
MEDIAN DATA INVENTORY November
December
389
398 VARIANCE: 2 %
SALE PRICE PER SQFT. November
December
383
$
418 VARIANCE: 9 % $
SOLDS November
December
32
33 VARIANCE: 3 %
SALE TO LIST PRICE RATIO November
December
96.17% 94.52% VARIANCE: -2 %
SALES PRICE November
833k
$
December
705k VARIANCE: -15 % $
DAYS ON MARKET November
December
35
59 VARIANCE: 69 %
BOCA/DELRAY MARKET SUMMARY | DECEMBER 2018 • The Boca/Delray attached luxury market is a Buyer's Market with an 8% Sales Ratio. • Homes sold for a median of 94.52% of list price in December 2018. • The most active price band is $500,000-$524,999, where the sales ratio is 33%. • The median luxury sales price for attached homes has decreased to $705,000. • The median days on market for December 2018 was 59 days, up from 35 in November 2018.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Historical data before August 2017 does not account for listings taken off the market.
3