BOCA RATON MARKET REPORT | January 2019

BOCA RATON & D E LRA Y B E A CH F LO R I D A –January 2019–

www.LuxuryHomeMarketing.com

BOCA/DELRAY

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | DECEMBER 2018 Inventory

Sales

Luxury Benchmark Price 1: $1,100,000 $7,000,000+ $6,000,000 - $6,999,999

$3,500,000 - $3,999,999

$1,150,000 - $1,199,999 $1,100,000 - $1,149,999

Buyer's Market Total Sales Ratio2: 4%

31

1 26

2

70

1 61

3

142

11

$1,400,000 - $1,499,999

$1,200,000 - $1,249,999

Total Sales: 28 44

$1,500,000 - $1,999,999

$1,250,000 - $1,299,999

29

1

$2,000,000 - $2,499,999

$1,300,000 - $1,399,999

Total Inventory: 626

2

$3,000,000 - $3,499,999 $2,500,000 - $2,999,999

12

1

$5,000,000 - $5,999,999 $4,000,000 - $4,999,999

51

0

37

3

41

0 31

0 12

0

22

2 1

17

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,647,500

3

3

2

22

9%

3,000 - 3,999

$1,712,500

4

4

2

53

4%

4,000 - 4,999

$1,477,500

5

4

4

70

6%

5,000 - 5,999

$1,630,035

5

5

3

116

3%

6,000 - 6,999

$1,720,000

5

6

8

99

8%

7,000+

$3,910,000

5

8

9

262

3%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

BOCA/DELRAY

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

Inventory

Solds

$2,150,000

$1,925,000

$1,925,000 $1,580,000

$1,512,500

634

575

24 Dec-17

$1,640,000

28 Jan-18

$1,470,000

$1,431,000

640

637

632

$1,731,250

37

36

Feb-18

Mar-18

638

42 Apr-18

610

56

587

44

May-18

$1,400,000

Jun-18

Jul-18

32

29

Aug-18

Sep-18

34 Oct-18

$1,735,000

626

596

588

572

568

49

$1,630,000

$1,590,000

24

28

Nov-18

Dec-18

MEDIAN DATA INVENTORY November

December

596

626 VARIANCE: 5 %

SALE PRICE PER SQFT. November

December

277

334 VARIANCE: 21 %

$

$

SOLDS November

December

24

28 VARIANCE: 17 % SALE TO LIST PRICE RATIO November

December

90.71% 93.92% VARIANCE: 4 %

SALES PRICE November

1.63m

$

December

1.74m VARIANCE: 6 % $

DAYS ON MARKET November

December

107

179 VARIANCE: 67 %

BOCA/DELRAY MARKET SUMMARY | DECEMBER 2018 • The Boca/Delray single-family luxury market is a Buyer's Market with a 4% Sales Ratio.

• Homes sold for a median of 93.92% of list price in December 2018.

• The most active price band is $1,150,000-$1,199,999, where the sales ratio is 9%.

• The median luxury sales price for single-family homes has increased to $1,735,000.

• The median days on market for December 2018 was 179 days, up from 107 in November 2018.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3

BOCA/DELRAY

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | DECEMBER 2018 Inventory

Sales

Luxury Benchmark Price 1: $500,000 $3,000,000+ $2,500,000 - $2,999,999

27

2 1

$2,000,000 - $2,499,999

24 37

20

25

1

27

1 23

1

33

3

41

2

$575,000 - $599,999

29

3

$550,000 - $574,999

13

3

$525,000 - $549,999 $500,000 - $524,999

52

2

$650,000 - $699,999 $600,000 - $649,999

Total Sales Ratio2: 8%

5

$900,000 - $999,999

$700,000 - $749,999

Buyer's Market

2

$1,000,000 - $1,499,999

$750,000 - $799,999

Total Sales: 33

2

$1,500,000 - $1,999,999

$800,000 - $899,999

Total Inventory: 398

16

25

3 2

6

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$650,000

2

2

13

160

8%

2,000 - 2,499

$1,205,000

3

3

4

62

6%

2,500 - 2,999

$550,000

3

4

1

59

2%

3,000 - 3,499

$590,000

3

3

3

41

7%

3,500 - 3,999

$1,400,000

3

4

5

17

29%

4,000+

$2,300,000

3

4

7

57

12%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

BOCA/DELRAY

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$900,000 $807,500

37 Dec-17

$855,000

$710,000

$632,500

437

431

30 Jan-18

Solds

$872,500

$760,000

$685,000

406

Inventory

$779,500

$750,000

$832,500 $705,000

$609,000

406

404

32

55

Feb-18

Mar-18

383

52 Apr-18

367

354

49

45 May-18

Jun-18

36

23

Aug-18

Sep-18

34

Jul-18

398

389

386

344

328

34

Oct-18

32

33

Nov-18

Dec-18

MEDIAN DATA INVENTORY November

December

389

398 VARIANCE: 2 %

SALE PRICE PER SQFT. November

December

383

$

418 VARIANCE: 9 % $

SOLDS November

December

32

33 VARIANCE: 3 %

SALE TO LIST PRICE RATIO November

December

96.17% 94.52% VARIANCE: -2 %

SALES PRICE November

833k

$

December

705k VARIANCE: -15 % $

DAYS ON MARKET November

December

35

59 VARIANCE: 69 %

BOCA/DELRAY MARKET SUMMARY | DECEMBER 2018 • The Boca/Delray attached luxury market is a Buyer's Market with an 8% Sales Ratio.

• Homes sold for a median of 94.52% of list price in December 2018.

• The most active price band is $500,000-$524,999, where the sales ratio is 33%.

• The median luxury sales price for attached homes has decreased to $705,000.

• The median days on market for December 2018 was 59 days, up from 35 in November 2018.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3