Boca Raton's single family home closed sales increase in November

Boca Raton’s single family closed home sales in November 2018 – compared to the same time period of November 2017 – was up 12.4 percent, in statistics released this week by the Realtors of the Palm Beaches and Greater Fort Lauderdale.

Closed sales was one of the few bright spots in the monthly report, when comparing 2017 to 2018.

Pending sales had the biggest drop, 35.2 percent, as there were 126 pending sales in 2018 compared to 193 in 2017.

The average sales price was also down, 16.2 percent, as the price went from $794,685 in 2017 to $665,822 in 2018. Similarly, the median sales price dropped, too, but just 1.1 percent – from $450,000 last year to $445,000 this November.

There was one positive number in the negative run, median time to contract dropped from 74 days (2017) to 72 days (2018), a drop of 2.7 percent.

Other Single Family numbers comparing November 2017 to November 2018:

– Dollar volume down 8.5 percent – $121,586,759 in 2017 to $111,246,819 in 2018

– Percent of Original List Price Received down 1.4 percent – 92.5 percent (2017), 91.2 percent (2018)

– New Listings down 4.0 percent – 322 (2017) to 309 (2018)

– Inventory of Homes for Sale down 6.4 percent – 1,320 (2017) to 1,236 (2018)

– Months Supply of Inventory down 7.7 percent – 6.5 (2017) to 6.0 (2018)

The Townhouse/Condo market comparing the two months a year apart, had more positive news.

The dollar volume was up 18.3 percent ($43,646,718 in 2017/$51,616.126 in 2018), and average sales price also showed a hefty increase of $15.8 percent ($235,928 in 2017/$273,101 in 2018).

Townhouse/condo media sales price was up 4.0 percent ($200,000 in 2017/$208,000 in 2018), and closed sales increased 2.2 percent (185 in 2017/189 in 2018).

Other Townhouse/Condo numbers comparing November 2017 to November 2018:

– Median Time to Contract increased 4.5 percent – (66 in 2017/69 in 2018

– Pending Sales decreased 10.8 percent – 204 in 2017/182 in 2018

– New Listings decreased 7.2 percent – 360 in 2017/334 in 2018

– Inventory of Homes for Sale decreased 8.6 percent – 1,285 in 2017/1,174 in 2018

– Months Supply of Inventory decreased 12.5 percent – 5.6 in 2017/4.9 in 2018.

For more information on the local real estate market, call Petruzzelli Real Estate (561.362.8413) or visit their iconic A1A office – 2325 N. Ocean Blvd., Boca Raton.