Is Boca Raton, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Boca Raton was a Seller's Market.
Key Takeaway
Boca Raton is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Boca Raton, FL
How much do homes in Boca Raton, FL cost?
Median Sold Price
$612,317
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Boca Raton have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Boca Raton was $612,317 in May 2024, up 2.4% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $170K | +9.7% |
| 2 Bedrooms | $325K | $325K | 0.0% |
| 3 Bedrooms | $652.2K | $646.4K | -0.9% |
| 4 Bedrooms | $925K | $989.6K | +7.0% |
| 5+ Bedrooms | $2.2M | $2.4M | +7.3% |
Summary: Boca Raton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes did not change, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Cities
| Deerfield Beach | $307K | $325.2K | +5.9% |
| Boynton Beach-Delray Beach | $375.7K | $391.3K | +4.1% |
| Boca Raton | $597.9K | $612.3K | +2.4% |
| Highland Beach | $915K | $925K | +1.1% |
| Delray Beach | $366.8K | $355.3K | -3.1% |
Housing Supply in Boca Raton, FL
How many homes are available in Boca Raton, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,444 | 2,477 | +1.4% |
Summary: The Boca Raton real estate market had 2,477 homes for sale in May 2024, a 1.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 136 | 144 | +5.9% |
| 2 Bedrooms | 952 | 969 | +1.8% |
| 3 Bedrooms | 739 | 711 | -3.8% |
| 4 Bedrooms | 302 | 331 | +9.6% |
| 5+ Bedrooms | 315 | 322 | +2.2% |
Summary: The Boca Raton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 1.8%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 2.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 421 | 353 | -16.2% |
Asking Price vs. Sold Price
295 Homes Were Sold
Under Asking
38 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Boca Raton, you may be able to get a good deal. 83.6% of homes here sold below asking price last month.
Summary: A total of 353 homes were sold or pending in Boca Raton in May 2024, down by 16.2% month-over-month. Of the 353 sold homes, 84% were sold under asking, 11% were sold at asking, and 6% were sold over asking.
Days on Market for Boca Raton, FL
How long does it take to sell a home in Boca Raton, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 61 Days | +16.3% |
Summary: Homes in Boca Raton had an average of 61 days on market in May 2024, up by 16.3% compared to last year.
Breakdown of Home Sale Times
153 Homes Were Sold
Under 30 Days
124 Homes Were Sold
In 30 - 90 Days
76 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Boca Raton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 353 homes were sold in Boca Raton; 43% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.