Boca Raton single family home closed sales way up in September

September was an active month for single family home sales in Boca Raton.

According to data recently released by the Realtors of the Palm Beaches, the number of closed sales for single family homes in Boca Raton for the month of September was up 47.7 percent from the same period in 2017.

A total of 192 closed sales were recorded in September – compared to 130 in 2017.

While the median sales price remained virtually the same ($440,625 in 2018 and 440,000 in 2017), the average sales price for a single family home jumped 33.4 percent – $732,970 in 2018, $549,330 in 2017.

The median time to contract remained unchanged at 76 days and the months supply of inventory fell from 6.3 percent to 5.8 percent.

While pending sales also increased (119 in 2017 to 163 in 2018) for the month, the number of new listings in September increased 48.9 percent (190 in 2017 to 283 in 2018).

The biggest jump came in the month’s overall dollar volume – $70,874,539 in 2017 to $140,730,249 in 2018 (a 98.6 percent difference).

The townhouse/condo market also showed increases, but not nearly as much as single family.

Here are the September number highlights for townhouse/condo:

– Closed sales up 14.8 percent (183 in 2017, 210 in 2018)

– Median sales price up 2.6 percent ($195,000 to $200,000)

– Average sales price up 4.3 percent ($295,608 to $308,294)

– Dollar volume up 19.1 percent ($54,096,287 to $64,443,492)

– New listings up 47.2 percent (212 to 312)

– Months supply of inventory down 11.5 percent (5.2 to 4.6)

For more information on current real estate market conditions, contact Petruzzelli Real Estate at 561.362.8413.