How did the Real Estate market fare ending out the year of 2020? It was quite a year with the coronavirus present. Here you'll discover details about Boca Raton's Real Estate market with
1st Quarter 2019 Reported Home Sales in East Boca Raton FL
Dated: May 30 2019
Home sales in East Boca Raton Florida
The year 2019 seems like it just started, yet we’ve already completed the first quarter of the new year. How have homes sales been in East Boca Raton Florida?
A recent market analysis of the local East Boca Raton Real Estate market has been completed and can be viewed here just below image for a more thorough analysis:
When analyzing a Real Estate market, what is it that you should pay attention to in order to get a feel for what is happening? Here are important criteria that signal what’s happening in a local Real Estate market and how they have compared to prior time periods:
- How many homes have sold?
- What are the median sales prices?
$580,000 was the median sales price ending the 1st qtr 2019 in East Boca Raton. Down from $604,000 a year ago 2018.
- How long does it take for homes to sell, commonly referred to as the DOM (days on the market)?
- What is the inventory supply of homes available for sale? This important indicator tells you how long it will take to sell the current supply of homes active for sale should no additional homes come to market? We’re able to determine the supply of homes based upon how many homes have sold in the past.
- What is the absorption rate of homes being snatched up by home Buyers? As it indicates, how many homes are absorbed (or bought) by Buyers? This is also determined by the number of homes sold in the past and what is currently for sale.
- What type of market are we experiencing? Unfortunately, a current Real Estate market cannot please all participants: home Sellers and home Buyers. Based upon the supply of home and what is selling, you’ll know whether we’re in a Seller’s Market, a Balanced Market or a Buyer’s Market. The market names are pretty self explanatory.
- A Seller’s market favors Sellers - where the supply of homes is typically under 6 months of available inventory.
- A Balanced market favors neither Seller or Buyer and is Balanced, in between - where the supply of homes is typically showing 6 months of available inventory.
- A Buyer’s market favors Buyers - where the supply of homes is typically over 6 months of inventory.
What about the luxury home market in East Boca Raton? It seems to be of particular interest to higher net worth individuals who are considering moving to Boca Raton in order to escape the resulting tax effects that the SALT tax reform has hit upon these high net worth individuals, commonly referred to as SALT for high SALT states that limits federal tax deductions for state and local taxes.
It has been said that Florida should see a huge influx of people relocating from higher tax states such as New York and California. It’s a tax driven flight to elsewhere. And, Boca Raton is on their radar. Consider a move to Boca Raton as a luxury home Buyer and discover Luxury homes for sale in East Boca Raton.
What’s it like living in East Boca Raton Florida?
Lynn Pineda, a licensed Boca Raton Florida Real Estate Agent serving Southeast Florida since 2005 eXp Realty LLC.
You can speak with Lynn by calling/texting her at 954-464-1100 or you can email her at: LynnP@ImagineYourHouse.com if you need to buy or sell a Boca Raton home. Your local, trusted professional when it’s time to buy or sell a home. Real Estate promises delivered.
Achieving great success in Real Estate since 2005, while putting my customerâ€™s minds at ease knowing that they can put their trust in me when selling a home or buying a home â€“ you can always count....
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