Buyers Gain Advantage In Boca Raton Condo Market At End Of Winter Season
This latest issue of the Miami Condo Market Intelligence Report™ examines condo trends in the Boca Raton market of Southeast Palm Beach County.
Volume 2024, Issue 14 (Subscribe here)
In this week’s newsletter, we examine the increasingly challenging condo trends in the Downtown Boca Raton And Beach market in Southeast Palm Beach County at the end of the busy South Florida Winter Buying Season.
In considering Boca Raton, it is important to compare it, for context, to the alternative markets of Downtown Fort Lauderdale And Beach to the south and Downtown West Palm Beach And The Island to the north.
Pricing in the Boca Raton condo market is typically on par - or slightly higher - than Fort Lauderdale but much higher than the West Palm Beach market.
In running the numbers, the statistics show - at least for Fort Lauderdale - that this year is no different than the historical norm, according to our research.
We will analyze the West Palm Beach market in two weeks.
The average condo transaction price per square foot in Boca Raton ($539) is slightly higher than in Fort Lauderdale ($502).
What is different is, the average asking price and the amount of inventory listed for resale.
In Boca Raton, the average asking price per square foot for a condo is $806 compared to $655 in Fort Lauderdale, respectively.
As for the supply of condo resales, Boca Raton has nearly eight months of inventory available while Fort Lauderdale has nearly 10 months on the market.
Both are buyers market but to different degrees as we will explore with this week’s stories.
The reports and accompanying charts are based on research we conducted using our proprietary information, private records and government statistics.
The first story focuses on the Boca Raton condo market in the final weeks of the busy South Florida Winter Buying Season.
In the second story, we examine the buyers market for luxury condos in Boca Raton where nearly 15 months of resale supply is listed.
The third story looks at the landlords market for rentals in Boca Raton where there is only about 3.8 months of supply available for lease.
We did not publish a story on distressed condos in Boca Raton this week as no shortsale or real-estate owned (REO) units are on the market.
For the fourth story, we write about senior staff writer David Lyons of the South Florida Sun Sentinel joining the Miami Reporters Roundtable Podcast this week to talk about the region’s challenges in finding tech workers as well as a new construction company in Broward County that builds houses that are supposedly more resistant to hurricanes.
In the fifth story, we announce the details of the first-ever monthly meeting of the Miami Condo Market Investment Club™ scheduled for May 8.
It is a lot of information but we are confident our reports will assist you to better understand current market conditions in Boca Raton.
It is worth noting that we are sharing a portion of our research for free with subscribers to our newsletter and readers of CondoVultures.com. If you want access to all of our published information, we would encourage you to join the newly launched Miami Condo Market Investment Club™.
Additionally, we encourage you to check out our video and audio podcasts.
As a reminder, we are always available for consulting, expert witness work and buyside brokerage services just as we have been since 2006. If you want more information, please visit CondoVultures.com or call the office at 305.865.5859.
Story 1
Boca Raton Condo Market Confronted With Nearly 8-Month Supply Of Resales
A review of the latest condo statistics shows the average asking price in the Boca Raton market is about $806 per square foot.
Story 2
Boca Raton Luxury Condo Supply Grows To 15 Months At End Of South Florida Winter Buying Season
A review of the latest luxury condo statistics shows the average asking price in the Boca Raton market is about $1,161 per square foot.
Story 3
Less Than 4-Month Supply Of Rentals Available In Tight Boca Raton Market
A review of the latest rental statistics shows the median asking price in the Boca Raton market is about $3.21 per square foot monthly.
Story 4
Journalist David Lyons Of South Florida Sun Sentinel Appears On Miami Reporters Roundtable Podcast
The objective of the podcast is to cut through the hype of South Florida real estate, in hopes, of assisting the audience to better understand the latest market trends.
Story 5
Miami Condo Market Investment Club™ Scheduled To Host 1st Monthly Meeting
The virtual meeting is scheduled for noon on Wednesday, May 8, for members of the Miami Condo Market Investment Club™.
This information is believed to be accurate and complete but cannot be guaranteed or warranted.
Copyright © 2024 Condo Vultures®, LLC. All Rights Reserved.