Home sale prices up in Boca Raton year over year
August average sale price of homes in Boca Raton increased 17.7 percent from August 2017 numbers, according to data released Wednesday by the Realtors of the Palm Beaches and Greater Fort Lauderdale.
The average sales price for August was $667.869 – up considerably from a year ago ($567,459)
“While the ‘sold-to-list’ ratio” has remained somewhat constant over the last 12 months,” said David Petruzzelli, owner/broker at Petruzzelli Real Estate, “the days on market, number of active listings and the absorption rate have all declined in that time span.
“That is helping to keep upward pressure on home listing and sales prices.”
Another year-over-year positive for the seller was median time to contract – 83 days to 69, a 16.9 percent drop.
The sold-to-list ratio for homes stayed virtually even when comparing the two months, right above 92 percent.
In other year-over-year data:
– Closed sales down 245 to 196 – 20.0 percent decrease
– Dollar Volume down $139,027,396 to $130,902,239 – 5.8 percent decrease
– Pending sales were up from 169 to 189 – 11.9 percent increase
– New listings were down 338 to 322 – 4.7 percent decrease
– Inventory of home for sale down 1,305 to 1,220 – 6.5 percent decrease
– Months supply of inventory down 6.3 to 6.0 – 4.8 percent decrease
To learn more about Petruzzelli Real Estate visit: https://www.
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