Is Boca Raton, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Boca Raton was a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160K | $163.5K | +2.2% |
2 Bedrooms | $335K | $325K | -3.0% |
3 Bedrooms | $675K | $644.4K | -4.5% |
4 Bedrooms | $968.7K | $943.4K | -2.6% |
5+ Bedrooms | $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 | $296.3K | $329.7K | +11.3% |
Boynton Beach-Delray Beach | $372.9K | $386.1K | +3.5% |
Highland Beach | $925K | $907.5K | -1.9% |
Boca Raton | $628.1K | $601K | -4.3% |
Delray Beach | $388.2K | $354K | -8.8% |
Housing Supply in Boca Raton, FL
How many homes are available in Boca Raton, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2,321 | 2,493 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 117 | 133 | +13.7% |
2 Bedrooms | 895 | 983 | +9.8% |
3 Bedrooms | 702 | 725 | +3.3% |
4 Bedrooms | 300 | 323 | +7.7% |
5+ Bedrooms | 307 | 329 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
271 | 312 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
52 Days | 53 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
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.