Boca Raton single family closed sales up in October - year-over-year

The number of single family closed home sales in Boca Raton for October 2018 increased by 17.7 percent from the same 31-day period in 2017.

A total of 206 closed sales were recorded in October, compared to 175 from a year ago.

Both the median sales price ($459,500 – up 2.1 percent) and average sales price ($775,878 – up 17.7 percent) also showed increases. So did the overall dollar volume – $159,260,351 in 2018 from $115,556.366 in 2017 (up 37.8 percent).

There was a slight decrease in the percent of original list price received, 91.1 percent in 2018, compared to 91.2 percent in 2017 – a drop of 0.1 perecent.

Other single family numbers included:

– Median time to contract increased from 77 days in 2017 to 83 days – an increase of 7.8 percent

– Pending sales dropped from 178 in 2017 to 175 this year – a 1.7 percent decrease

– New listings were also down from 368 in 2017 to 308 this year – 1 16.3 percent decrease

– Inventory of homes for sales likewise dropped from 1,314 in 2017 to 1,178 this year – a 10.3 percent decrease

– The months supply of inventory also dropped from 6.5 in 2017 to 5.6 – a 13.8 percent decrease

The townhouse/condo market showed a decrease in the number of closed sales year-over-year (190 in 2018/208 in 2017 – 8.7 percent decrease), while the median sales price ($210,000/$191,000 – 9.9 percent increase) and average sales price ($301,510/$258,588 – 16.6 percent increase) were both up year-over-year.

Other townhouse/condo numbers included:

– Percent of original list price received up 1.3 percent – 92.2 percent from 91.0 percent

– Median time to contract down 2.6 percent – 75 days from 77 days

– Pending sales down 2.3 percent – 217 in 2018/222 in 2017

– New listings (386 in 2018/421 in 2017 – down 8.3 percent), inventory of homes for sale (1,141 in 2018/1,232 in 2017 – down 7.4 percent), and months supply of inventory (4.8 in 2018/5.4 percent in 2017 – down 11.1 percent) all showed negative numbers.

For more information on the housing market in Boca Raton – and beyond – contact Petruzzelli Real Estate at 561.362.8413. You can visit our office at 2325 N. Ocean Blvd. in Boca Raton, between Palmetto Park Road and Spanish River Blvd.

As always, visit us on the web at: petruzzellirealestate.com