Sign up to stay up to date on the Boca Raton and Palm Beach County Real Estate Market!

or Create your own market report

Hello Everyone and thank you for watching. This is Gia with Palm Beach Premier Real Estate here in Boca Raton Florida with your 2-minute local market report for FEBRUARY 2017.

So here’s a quick take on the numbers that came out from the Realtors Association of the Palm Beaches

The message from your team here at Palm Beach Premier Real Estate this month is:

Days On Market Sharply Higher

So in taking a closer look at the internal numbers…. What we’re seeing is the following:

  1. FIRST – The SUPPLY of Listings continues to increase with Active Inventory UP another 3%
  2. SECOND – We are now 5.4 months supply of Inventory for SFH’s (UP 8%) and 6.2 months for Townhouses & Condos  (UP 6.9%) – 6 months supply is generally considered to be a balanced market
  3. THIRD… The number of closed sales in February compared to the prior year showed only a marginal improvement. It is no coincidence that February’s closed sales units represented the second lowest monthly number in the last 12 months.
  4. FOURTH – The numbers here in Palm Beach County continue to indicate a market in transition…One of the most surprising statistics to jump out this month is that Sellers are going under contract in approximately 64 days (SFH’s) and 54 days (THS & Condos) ..if priced correctly of course….Up 14% and 12.5% respectively!!!
  5. Median Prices (while they appear UP on a year over year basis) … they are actually lower in February compared to last summer!
  6. FINALLY – Rising Interest rates continue to be part of the discussion coming from The Federal Reserve– with an INCREASE in rates that we discussed the likelihood of last month finally materializing with the most recent Federal Reserve meeting. Additional Comments from Janet Yellen (the Fed Chairperson) indicated that several additional rate increases are to be anticipated this year.

So while the association and TV/Print media talk about the positives year-over-year, we are analyzing the data on a month-to-month basis and looking for clear trends and market changes….For Example:

  1. More Inventory continues to come to market and has done for some time…
  2. Demand is waning particularly at the upper end of the market
  3. And third, prices are likely to trend to downwards as we mentioned earlier

So we clearly have some economic fundamentals playing themselves out that further illustrate the transitioning marketplace that we’ve been talking about for several months now.

Specifically – we are watching inventory levels very closely as we have now seen 13 consecutive months where supply has increased versus the same month in the prior year.

So anticipate a continuing transition ahead to a buyers market.

Going forward we will definitely be keeping a continued close watch on prices, inventory levels and the number of closed sales.

If you’ve been considering taking advantage of the strength in the marketplace – now is a great time to sell…

Please give us a call for a confidential consultation at 561.395.8418 or email us at Info@PBPrealestate.com - we’re here to help!

As always we look forward to speaking with you. Thank you for watching. We’ll see you next time...

Active Properties
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
701 E Camino Real Unit #9-E 3 3 1,900 $1,075,000 $565 0 days
401 N J Street Unit #9 2 1 730 $110,500 $151 0 days
No address 2 2 1,178 $187,000 $158 0 days
227 Australian Avenue Unit #2-E 2 2 1,287 $889,000 $690 0 days
3937 Victoria Drive 2 3 1,339 $225,000 $168 0 days
5050 Prairie Dunes Village Circle 3 2 2,386 $345,000 $144 0 days
460 NW 20th Street Unit #2040 2 2 936 $179,900 $192 0 days
3810 Wall Street 3 2 1,900 $329,000 $173 0 days
1300 Spanish River Road 4 4 3,294 $1,699,000 $515 0 days
3769 Coventry Lane 6 7 5,726 $2,395,000 $418 0 days
3815 Eastview Avenue 6 5 4,768 $280,000 $58 0 days
3302 Perimeter Drive Unit #1721 3 2 1,595 $174,900 $109 0 days
301 Lake Shore Drive Unit #103 2 4 1,316 $279,000 $212 0 days
2366 Bellarosa Circle 3 3 2,667 $515,000 $193 0 days
120 Lake Barbara Drive 2 2 1,000 $124,900 $124 0 days
7600 Clarke Road 3 3 2,095 $589,900 $281 0 days
8460 Ironhorse Court 3 4 3,458 $759,900 $219 0 days
5550 N Ocean Drive Unit #14a 2 2 1,558 $650,000 $417 0 days
10391 Sunset Bend Drive 2 2 1,976 $199,000 $100 0 days
230 Ocean Grande Boulevard Unit #402 3 3 2,410 $1,095,000 $454 0 days
26 Royal Palm Way Unit #404 2 2 1,117 $190,000 $170 0 days
4300 N 129th Avenue N 3 3 1,934 $360,000 $186 0 days
19251 Redberry Court 5 3 2,805 $615,000 $219 0 days
68 Berkshire C 2 2 814 $57,500 $70 0 days
8515 Casa Del Lago Unit #A 3 2 1,630 $284,777 $174 0 days
16100 W Bay Drive Unit #149 2 2 1,478 $519,000 $351 0 days
206 Superior Place 4 2 1,836 $339,000 $184 0 days
7789 Lawrence Road 4 3 1,804 $399,000 $221 0 days
4205 Artesa Drive 4 3 3,238 $525,000 $162 0 days
2804 Sarento Place Unit #111 2 2 1,149 $189,000 $164 0 days
114 Cherry Laurel Drive 4 3 3,625 $649,000 $179 0 days
6484 Via Benita 4 3 3,057 $615,000 $201 0 days
103 Kensington Way 4 3 3,033 $421,000 $138 0 days
2499 Vicara Ct 3 3 2,287 $448,800 $196 0 days
1401 Village Boulevard Unit #2027 2 2 996 $124,500 $125 0 days
8971 Golden Mountain Circle 4 4 2,708 $810,000 $299 0 days
201 S Seas Drive Unit #304 2 2 1,385 $410,000 $296 0 days
4335 Lake Tahoe Circle 4 3 1,984 $295,900 $149 0 days
23451 SW 55th Avenue Unit #A 3 2 1,685 $330,000 $195 0 days
357 Jackson Avenue 3 2 1,258 $285,000 $226 0 days
380 Bennington Lane 1 2 784 $90,000 $114 0 days
12104 Alternate A1a Unit #G4 2 2 1,173 $152,999 $130 0 days
41 Teal Way 3 2 1,608 $385,000 $239 0 days
2 Water Club Way Unit #302 3 4 2,253 $999,000 $443 0 days
422 N Cypress Drive Unit #A 2 2 1,176 $249,900 $212 0 days
2848 NW 28th Street 3 2 2,266 $599,000 $264 0 days
15401 Pembridge Avenue Unit #40 2 2 1,150 $194,900 $169 0 days
6372 La Costa Drive Unit #306 2 2 1,388 $200,000 $144 0 days
2387 Windsor Way Court 3 3 2,703 $750,000 $277 0 days
11900 SE Birkdale Run 3 4 2,993 $719,000 $240 0 days
Average: 3.0 3.0 2,628 $1,038,950 $345 131 days
Viewing 1 - 50 of 12960
Viewing 1 - 50 of 12960
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
1230 S Lakeside Drive 4 3 2,378 $1,500,000 $630 1 day
12184 Country Greens Boulevard 3 2 1,422 $269,900 $189 1 day
12479 Crystal Pointe Drive Unit #202 3 2 1,729 $274,900 $158 2 days
8042 Stirrup Cay 4 2 1,543 $325,000 $210 2 days
51 Normandy B 2 2 907 $127,500 $140 2 days
5402 Red Oak Court 2 2 1,152 $235,000 $203 2 days
17766 Heather Ridge Lane 4 4 3,140 $289,000 $92 2 days
140 Monroe Drive 3 3 2,136 $1,175,000 $550 2 days
103 Kopsia Drive 5 4 3,358 $720,000 $214 2 days
850 W Camino Real 3 2 1,736 $495,000 $285 3 days
109 Conaskonk Circle 3 2 1,347 $214,900 $159 3 days
14560 Sunny Waters Lane 2 2 1,400 $235,000 $167 3 days
2140 Wells Place 3 3 2,138 $423,000 $197 3 days
2700 N Ocean Drive Unit #2101a 3 4 3,605 $2,900,000 $804 3 days
1663 NW 8th Street 3 2 1,202 $319,000 $265 3 days
2115 NW 17th Street 3 2 1,489 $359,900 $241 3 days
8068 Montserrat Place 2 2 1,526 $339,900 $222 3 days
7280 Amberly Lane Unit #406 2 2 1,450 $184,000 $126 3 days
445 Mansfield K 2 2 835 $62,900 $75 7 days
5149 Palazzo Place 3 2 2,067 $379,900 $183 3 days
1356 N Mangonia Drive 4 2 2,273 $245,000 $107 4 days
148 Village Circle 3 2 1,792 $359,922 $200 4 days
3 Glamis Way SE 3 3 1,824 $229,900 $126 4 days
7756 Terrace Road 4 3 1,990 $349,000 $175 4 days
113 Windward Drive 3 4 3,211 $539,900 $168 4 days
6634 Houlton Circle 3 3 2,582 $460,000 $178 4 days
101 Pinecrest Circle Unit #B 2 2 1,178 $235,000 $199 4 days
1241 Bimini Lane 3 2 2,062 $789,000 $382 4 days
4740 S Ocean Boulevard Unit #1514 2 2 2,050 $850,000 $414 4 days
3758 Satin Leaf Court 3 2 1,891 $399,000 $210 4 days
2609 NW 40th Street 4 3 2,768 $725,000 $261 4 days
8623 Wakefield Drive 3 2 1,577 $400,000 $253 4 days
3777 Providence Road 4 3 2,644 $366,900 $138 5 days
20650 Bay Brooke Court 4 3 2,440 $535,000 $219 5 days
14944 Wildflower Lane 3 2 1,229 $199,000 $161 5 days
22320 Overture Circle 3 2 1,459 $349,900 $239 5 days
6916 3rd Street 3 2 1,351 $267,000 $197 5 days
3425 Via Poinciana Unit #302 2 2 1,034 $82,000 $79 5 days
5250 NW 3rd Court Unit #C 1 2 1,040 $69,000 $66 5 days
4642 Silver Saw Lane 3 3 1,718 $285,000 $165 5 days
99 SE Mizner Boulevard Unit #431 3 2 1,500 $575,000 $383 5 days
12599 Crystal Pointe Drive Unit #B 2 2 1,569 $219,000 $139 6 days
7780 Stone Harbour Drive Unit #1 3 3 1,884 $315,000 $167 6 days
170 Windsor H 1 2 738 $55,000 $74 6 days
29 East Road 2 2 1,196 $510,000 $426 6 days
204 Palm Beach Trace Drive Unit #204 2 2 1,201 $150,000 $124 6 days
3282 W Mallory Boulevard W 3 3 1,601 $389,000 $242 6 days
11334 Coral Key Drive 3 2 1,920 $410,000 $213 6 days
3791 Candlewood Court 3 3 1,802 $465,000 $258 6 days
1015 Siena Oaks Circle W 3 2 1,796 $405,000 $225 6 days
Average: 2.9 2.6 1,982 $556,308 $229 77 days
Viewing 1 - 50 of 4092
Viewing 1 - 50 of 4092
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
914 N M Street N/A N/A N/A $124,900 $115,000 Unknown 6 days 1/24/20
410 Evernia Street Unit #325 2 2 1,160 $315,000 $290,000 $250 6 days 1/24/20
3440 S Ocean Boulevard Unit #307n 2 2 1,458 $575,000 $535,000 $366 13 days 1/24/20
517 Revere Road 4 2 1,100 $265,000 $240,000 $218 19 days 1/24/20
331 S Sequoia Drive 3 2 1,747 $285,000 $282,000 $161 22 days 1/24/20
4368 Marilyn Drive N/A N/A 2,100 $299,999 $295,000 $140 28 days 1/24/20
14618 Temple Boulevard 3 2 1,996 $379,999 $370,000 $185 43 days 1/24/20
13170 69th Street N 4 4 2,445 $399,000 $393,000 $160 45 days 1/24/20
1341 SW 25th Way 3 2 1,835 $400,000 $385,000 $209 48 days 1/24/20
312 Waterside Drive 2 3 1,152 $179,000 $179,000 $155 50 days 1/24/20
5811 Lonewood Court 3 2 1,646 $390,000 $372,000 $226 50 days 1/24/20
370 River Edge Road 3 2 1,889 $775,000 $740,000 $391 55 days 1/24/20
8423 Springlake Drive 2 2 1,654 $309,000 $300,000 $181 55 days 1/24/20
1100 Hickory Trail 3 2 1,954 $360,000 $360,000 $184 62 days 1/24/20
3730 N Ocean Drive Unit #16 B 4 5 3,642 $4,495,000 $4,200,000 $1,153 62 days 1/24/20
1027 Beech Road 4 2 1,284 $250,000 $240,000 $186 66 days 1/24/20
104 Saddle Trail 3 2 1,366 $289,900 $285,000 $208 69 days 1/24/20
380 Reigle Avenue 3 2 1,586 $360,000 $355,000 $223 70 days 1/24/20
16 Berkshire A 1 1 615 $38,500 $35,000 $56 83 days 1/24/20
3512 Ensign Circle 3 2 1,666 $579,000 $545,000 $327 88 days 1/24/20
18999 Stewart Circle Unit #5 2 2 1,227 $174,999 $165,500 $134 84 days 1/24/20
3 Church Lane Unit #125 1 1 902 $625,000 $575,000 $637 85 days 1/24/20
5010 Whispering Hollow 4 4 3,007 $635,000 $620,000 $206 86 days 1/24/20
15359 Alexander Run 4 2 2,052 $489,000 $480,000 $233 86 days 1/24/20
12990 Anthorne Lane Unit #12990 4 3 1,872 $364,900 $352,000 $188 101 days 1/24/20
2121 N Ocean Boulevard Unit #1008e 2 2 1,078 $475,000 $440,000 $408 104 days 1/24/20
8051 Ambach Way 2 2 1,243 $130,000 $120,000 $96 111 days 1/24/20
2704 27th Court Unit #112-D 2 3 1,236 $269,500 $265,000 $214 112 days 1/24/20
830 NE 7th Avenue 3 4 2,353 $1,299,000 $1,299,000 $552 113 days 1/24/20
8249 Apache Boulevard 3 2 1,575 $310,000 $315,000 $200 121 days 1/24/20
10841 Quail Covey Road Unit #Azalea 3 2 1,958 $189,000 $180,000 $91 125 days 1/24/20
4816 Filer Road 4 2 1,700 $289,000 $295,000 $173 128 days 1/24/20
616 Clearwater Park Road Unit #303 1 1 690 $130,000 $130,000 $188 185 days 1/24/20
7634 Majestic Palm Drive Unit #201 2 2 1,822 $185,000 $157,500 $86 221 days 1/24/20
728 Berkeley Street 6 7 4,801 $2,695,000 $2,600,000 $541 398 days 1/24/20
2700 N Ocean Drive Unit #Ph-1 B 3 4 3,032 $2,450,000 $2,200,000 $725 530 days 1/24/20
292 Fern Palm Road 6 8 6,625 $3,250,000 $2,800,000 $422 707 days 1/24/20
11348 Long Meadow Drive 6 8 4,968 $3,799,000 $3,799,000 $764 708 days 1/24/20
1430 S Lakeside Drive Unit #23 2 2 1,081 $199,900 $190,000 $175 25 days 1/23/20
534 Shady Pine Way Unit #A2 1 1 788 $105,000 $105,000 $133 42 days 1/23/20
21636 Juego Circle Unit #22f 2 2 1,216 $129,000 $122,500 $100 43 days 1/23/20
193 Dorchester I 1 2 738 $89,900 $70,000 $94 46 days 1/23/20
815 W Boynton Beach Boulevard Unit #11-107 2 2 1,104 $165,900 $165,000 $149 46 days 1/23/20
1329 S N Street 2 1 968 $200,000 $215,000 $222 49 days 1/23/20
2871 N Ocean Boulevard Unit #R144 2 2 958 $259,000 $225,000 $234 49 days 1/23/20
5230 Indianwood Village Lane 4 3 2,670 $469,000 $469,000 $175 54 days 1/23/20
8658 Dumford Lane 4 5 3,401 $626,325 $614,000 $180 50 days 1/23/20
1827 SW Congress Boulevard 2 2 1,224 $198,900 $195,000 $159 51 days 1/23/20
1404 Silverleaf Oak Court 2 2 1,152 $259,000 $255,000 $221 55 days 1/23/20
7629 Briar Cliff Circle 3 2 2,042 $345,000 $332,000 $162 60 days 1/23/20
Average: 2.8 2.5 2,015 $461,279 $433,141 $229 116 days
Viewing 1 - 50 of 14438
Viewing 1 - 50 of 14438