Is Boca Raton, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Boca Raton is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Boca Raton was a Seller's Market.

Key Takeaway

Boca Raton is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Boca Raton, FL

How much do homes in Boca Raton, FL cost?

Median Sold Price

$601,056

$332/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$27,128(-4.3%)

Key Takeaway

Homes in Boca Raton have sold for 4.3% less than they did a year ago.

Summary: The median home sold price in Boca Raton was $601,056 in March 2024, down 4.3% from last year, and the median price per square foot was $332.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $160K$163.5K
+2.2%
2 $335K$325K
-3.0%
3 $675K$644.4K
-4.5%
4 $968.7K$943.4K
-2.6%
5+ $2.1M$2.2M
+2.3%

Summary: Boca Raton housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes decreased by 3%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 2.3%.

Median Sold Price Compared To Nearby Cities

Deerfield Beach
+11.3%
Boynton Beach-Delray Beach
+3.5%
Highland Beach
-1.9%
Boca Raton
-4.3%
Delray Beach
-8.8%

Housing Supply in Boca Raton, FL

How many homes are available in Boca Raton, FL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2,3212,493+7.4%

Summary: The Boca Raton real estate market had 2,493 homes for sale in March 2024, a 7.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 117133
+13.7%
2 895983
+9.8%
3 702725
+3.3%
4 300323
+7.7%
5+ 307329
+7.2%

Summary: The Boca Raton housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.7%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 7.2%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
271312+15.1%

Asking Price vs. Sold Price

257 Homes Were Sold
Under Asking

33 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Boca Raton, you may be able to get a good deal. 82.4% of homes here sold below asking price last month.

Summary: A total of 312 homes were sold or pending in Boca Raton in March 2024, up by 15.1% month-over-month. Of the 312 sold homes, 82% were sold under asking, 11% were sold at asking, and 7% were sold over asking.

Days on Market for Boca Raton, FL

How long does it take to sell a home in Boca Raton, FL?

Average Sale Time

Mar 2023Mar 2024CHANGE
52 Days53 Days+2.4%

Summary: Homes in Boca Raton had an average of 53 days on market in Mar 2024, up by 2.4% compared to last year.

Breakdown of Home Sale Times

149 Homes Were Sold
Under 30 Days

102 Homes Were Sold
In 30 - 90 Days

61 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Boca Raton are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 312 homes were sold in Boca Raton; 48% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

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