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Real Estate Market Update for Boca Raton, FL – November 2014

The Realtors Association of the Palm Beaches has released the Real Estate Market Update for Boca Raton, FL for November 2014.  Here’s the info:

November
New Listings: 536 This Year vs 536 Last Year.  No change
Closed Sales: 270 This Year vs 254 Last Year.  +6.3%
Median Sales Price: $300,000 This Year vs $244,500 Last Year.  +22.7%
Percent of List Price Received: 90.7% This Year vs 91.5% Last Year. (-0.9%)
Days on Market Until Sale:  108 This Year vs 94 Last Year.  +14.5%
Inventory of Homes for Sale:  2,229 This Year vs 2,406 Last Year.  (-7.4%)
Months Supply of Inventory:  6.0 This Year vs 6.4 Last Year (-6.9%)

Year to Date
New Listings: 6,589 This Year vs 6,007 Last Year.  +9.7%
Closed Sales: 3,966 This Year vs 4,096 Last Year.  (-3.2%)
Median Sales Price: $279,000 This Year vs $250,000 Last Year.  +11.6%
Percent of List Price Received: 91.2% This Year vs 90.8% Last Year. +0.5%
Days on Market Until Sale:  95 This Year vs 119 Last Year.  (-20.5%)

Commentary
As you’ll note, the Median Sales Price jumped 22.7% in November while year to date it has increased an impressive 11.6%.  It will be interesting to see how the median pricing changes once we are past the new year.  Can the Boca Raton market absorb much more than a $300,000 median sales price?

Of note, the Days on Market Unitl Sale has decreased by 24 days.  This is a 20.5% change.  Does this mean that lending restrictions are easing?  That is questionable as there are 9.7% more listings Year to Date and 3.2% fewer Closed Sales.  I guess time will tell.

If you are looking to determine the value of your home or would like a list of available properties for sale in your area please contact me.

Source:  Realtors Association of the Palm Beaches


Rick Schuster
Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

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Market Update for Boca Greens as of December 2014

Real estate market data for Boca Greens, Boca Raton, FL provided by  Rick Schuster of Jaycee Realty.

Boca Greens Market Update
Over the past 90 days, Boca Greens has seen 11 Multiple Listing Service home closings with an average sale price of $357,218. This equates to $168.75 per square foot of living space.  The average List price of $378,855 indicates that Boca Greens Sellers are achieving approximately 94.2% of their asking price.  For closings that occurred in Boca Greens over the past 90 days, the average home closed in just 71 days.

If you are considering buying a home, you can still find bargains on a house in Boca Greens but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, well priced listings often sell within a few days of hitting the market.

Click the following link if you are interested in seeing a current list of available inventory in Boca Greens.

At the time of publication of this article, the average Boca Greens home was listed for sale for 106 days. Sellers should make sure to price their home near market value if they expect to get an offer from an interested buyer.  I wouldn’t expect home prices to run up quite as fast as they did back in 2005 as banks remain stringent on their lending guidelines.

Boca Greens Real Estate Active Listing Summary
The average list price for the 12 single family homes currently for sale in Boca Greens is $413,650 which is a significantly higher than the list prices of the most recent home sales in the community.  The average price per square foot for listings in this neighborhood is $191.71.

Boca Greens Properties Under Contract
The Multiple Listing Service currently shows 6 properties under contract with an average list price of $361,317.  The average price per square foot is $178.30 which is about 1.2% more than recent sales in the neighborhood.

Find Homes for Sale in Boca Greens
Visit my website to search for homes in Boca Greens or to be notified when a Boca Greens home comes on the market.  To find out what you home is worth call me at 561-206-2835.

Note:  The information contained herein was gathered from the Multiple Listing Service (MLS) and is deemed reliable but not warranted.  Additional properties may be active, under contract or sold which may or may not be listed in the MLS.

Market Update for Saturnia, Boca Raton as of December 2014

Market Update for Saturnia, Boca Raton as of December 2014

Real estate market data for Saturnia, Boca Raton, FL provided by  Rick Schuster of Jaycee Realty.

Saturnia Market Update
Over the past 90 days, Saturnia has seen 6 Multiple Listing Service home closings with an average sale price of $512,500. This equates to $165.59 per square foot of living space.  The average List price of $531,965 indicates that Saturnia Sellers are achieving approximately 96% of their asking price.  If you are considering buying a home, you can still find bargains on a house in Saturnia but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, well priced listings often sell within a few days of hitting the market.

Click the following link if you are interested in seeing a current list of available inventory in Saturnia.

At the time of publication of this article, the average Saturnia home was listed for sale for 77 days. Sellers should make sure to price their home near market value if they expect to get an offer from an interested buyer.  I wouldn’t expect home prices to run up quite as fast as they did back in 2005 as banks remain stringent on their lending guidelines.

Saturnia Real Estate Active Listing Summary
The average list price for the 11 single family homes currently for sale in Saturnia is $694,800 which is a substantial increase over the recent average sale price.  The average price per square foot for listings in this neighborhood is $191.83 — also a big jump.

Saturnia Properties Under Contract
The Multiple Listing Service currently shows 3 properties under contract with an average list price of $731,133.  The average price per square foot is $183.12 which is almost 9.5% greater than recent sales in the neighborhood.

Quick Analysis
One of the reasons for the disperity in pricing may be that 3 of the 6 recently closed sales are substantially smaller in size compared to properties which are currently available.  For instance, a property with 2741 square feet recently sold for $455,000.  This home is 607 feet smaller than the largest home sold in the past 90 days.  Based solely on square feet (not the most accurate method of determining value), this would mean an adjustment of $100,513 —- this comparable sale would probably not be used by an appraiser as the adjustment would exceed the allowable amount governed by appraisal rules.  It is important to note that there are several homes currently for sale which are over 4,000 feet which would make for an even greater “phantom” adjustment.  If you would like a detailed analysis regarding the values in Saturnia, please contact me via the information below and I will be happy to prepare a report for you.

Find Homes for Sale in Saturnia
Visit my website to search for homes in Saturnia or to be notified when a Saturnia home comes on the market.  To find out what you home is worth call me at 561-206-2835.

Note:  The information contained herein was gathered from the Multiple Listing Service (MLS) and is deemed reliable but not warranted.  Additional properties may be active, under contract or sold which may or may not be listed in the MLS.


Rick Schuster
Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

 jc logotwitter facebook Linked In Active Rain Home Guardian Title Rick Schuster

Market Update for Boca Falls as of December 2014

Market Update for Boca Falls as of December 2014

Real estate market data for Boca Falls, Boca Raton, FL provided by  Rick Schuster of Jaycee Realty.

Boca Falls Market Update

Over the past 90 days, Boca Falls has seen 6 Multiple Listing Service home closings with an average sale price of $618,833. This equates to $186.17 per square foot of living space.  The average List price of $647,817 indicates that Boca Falls Sellers are achieving approximately 96% of their asking price.  If you are considering buying a home, you can still find bargains on a house in Boca Falls but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, well priced listings often sell within a few days of hitting the market.
Click the following link if you are interested in seeing a current list of available inventory in Boca Falls.

At the time of publication of this article, the average Boca Falls home was listed for for sale for 109 days. Sellers should make sure to price their home near market value if they expect to get an offer from an interested buyer.  I wouldn’t expect home prices to run up quite as fast as they did back in 2005 as banks remain stringent on their lending guidelines.

Boca Falls Real Estate Active Lisitng Summary
The average list price for a single family home in Boca Falls is $645,294which is approximately 4% higher than the average sale price.  The average price per square foot for listings in this area is $183.60.


Find Homes for Sale in Boca Falls
Visit my website to search for homes in Boca Falls or to be notified when a Boca Falls home comes on the market.  To find out what you home is worth call me at 561-206-2835.


POSTED BY
Rick Schuster

Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

 jc logotwitter facebook Linked In Active Rain Home Guardian Title Rick Schuster