Boca Raton Median Home Prices Are Up

Marc Jablon boca raton home , Boca Raton home prices , Boca Raton home prices and sales , Boca Raton Home Sales , boca raton real estate Leave a Comment

June Statistics for PBC

Once again, Boca Raton median home prices are up from this time last year. As of June, the median sales price in Boca Raton was $320,000. This is an increase of over 9.5% from this time last year. While there were fewer transactions closed in June, 562, than this time last year, the cost per home increased. This is in line with the Palm Beach County statistics.

The Florida Association of Realtors (FAR) released the much anticipated numbers for Palm Beach county for the month of June. While the number of closed sales in the month of June 2016 dropped to 1,822 transactions versus the 1,876 transactions of last year, the median sales price of homes in Palm Beach County increased by over $17K from this time last year. That’s a 5.6% increase, and it contributed to the tri-county median home selling prices of over $300,000 as of June.

In comparison to May 2016, we saw an increase in closed sales. There were 1,648 closed sales in May 2016 and that number increased  to 1,822 in June.

According to a survey taken by the New York Federal Reserve, people’s expectations are that prices will continue to increase, but at a slower pace.

Tri-County area considered most stable in state

Despite these continued price increases, Freddie Mac reports that South Florida ranks 25th in the stable housing market ratings. In fact, Palm Beach County, Broward County, and Miami-Dade Counthy ranked as the most stable of all the Florida metros that were measured.

Buyers more resistant

In our area, while inventory remains limited, buyers are proving more resistant to inflated prices; they may not mind paying appraised value, but they won’t pay more than that.

As a result, homes are remaining on the market for longer periods of time this year as compared to the same time last year.

Below is the Closed Sales Activity Report along with the Median Price in our area, Palm Beach County, by zip code.

Zip Code

Single Family Homes

Townhouses/Condos

      Closed Sales Median Price

Closed Sales

Median Price
33401                     5 $54,500.00                        55 $24,500.00
33402                     0 No Sales                         0 No Sales
33403                     6 $205,000.00                         5 $173,500.00
33404                    19 $134,900.00                       47 $280,000.00
33405                   29 $330,610.00                         1 $21,153.00
33406                   25 $200,000.00                        8 $127,500.00
33407                   20 $165,000.00                       15 $140,000.00
33408                   15 $425,000.00                       38 $227,750.00
33409                   20 $197,000.00                       25 $114,000.00
33410                   51 $357,000.00                       22 $256,750.00
33411                 103 $291,000.00                       32 $100,000.00
33412                  29 $342,500.00                         1 $265,000.00
33413                  18 $259,313.00                         3 $164,000.00
33414                 105 $370,000.00                        16 $226,500.00
33415                  38 $159,000.00                        31 $96,000.00
33416                    0 No Sales                        0 No Sales
33417                  16 $164,250.00                       56 $42,750.00
33418                  67 $425,000.00                       38 $208,500.00
33419                   0 No Sales                        0 No Sales
33420                   0 No Sales                        0 No Sales
33421                   0 No Sales                        0 No Sales
33422                   0 No Sales                        0 No Sales
33424                   0 No Sales                        0 No Sales
33425                   0 No Sales                        0 No Sales
33426                  36 $182,500.00                       27 $165,000.00
33427                  0 No Sales                        0 No Sales
33428                  58 $325,000.00                       24 $112,500.00
33429                  0 No Sales                        0 No Sales
33430                  2 $105,000.00                        0 No Sales
33431                  27 $439,000.00                      20 $365,000.00
33432                  17 $1,175,000.00                      28 $424,500.00
33433                  51 $359,000.00                      46 $188,050.00
33434                  26 $417,225.00                      40 $60,000.00
33435                  25 $195,900.00                      40 $154,500.00
33436                  57 $260,000.00                      28 $152,500.00
33437                  78 $262,500.00                      34 $141,750.00
33438                   0 No Sales                       0 No Sales
33444                   16 $410,000.00                      10 $190,000.00
33445                  62 $281,000.00                      29 $108,000.00
33446                  39 $538,250.00                      58 $85,000.00
33448                   0 No Sales                       0 No Sales
33449                  32 $476,865.00                       1 $37,500.00
33454                   0 No Sales                       0 No Sales
33458                 98 $450,000.00                       33 $265,000.00
33459                  0 No Sales                       0 No Sales
33460                 38 $180,000.00                       13 $135,000.00
33461                  16 $180,000.00                       34 $51,250.00
33462                  32 $250,000.00                       25 $178,400.00
33463                  59 $242,000.00                       29 $152,900.00
33464                   0 No Sales                       0 No Sales
33465                   0 No Sales                       0 No Sales
33466                   0 No Sales                       0 No Sales
33467                  97 $320,000.00                      38 $80,500.00
33468                   0 No Sales                       0 No Sales
33469                 28 $483,750.00                       18 $376,250.00
33470                 54 $312,500.00                       0 No Sales
33472                  35 $277,500.00                       2 $171,750.00
33473                  19 $590,000.00                       0 No Sales
33474                   0 No Sales                       0 No Sales
33476                   2 $102,250.00                       0 No Sales
33477                 14 $545,000.00                      36 $326,500.00
33478                 24 $354,000.00                        0 No Sales
33480                 17 $4,500,000.00                      49 $400,000.00
33481                  0 No Sales                        0 No Sales
33482                  0 No Sales                        0 No Sales
33483                 12 $938,750.00                      28 $422,500.00
33484                 44 $191,250.00                      53 $105,000.00
33486                 35 $416,490.00                      17 $189,000.00
33487                 16 $716,000.00                      34 $298,750.00
33488                  0 No Sales                       0 No Sales
33493                   2 $100,000.00                       0 No Sales
33496                  49 $540,000.00                      12 $212,106.00
33497                   0 No Sales                       0 No Sales
33498                  39 $445,000.00                       3 $258,900.00
33499                    0 No Sales                       0 No Sales

Thinking of buying or selling a home? Please give us a call.

Marc Jablon

New Harbor Realty

[email protected]m

561-213-6139

www.JablonTeam.com

About the Author

Marc Jablon