December 2024
Boca Raton Market Stats
Boca Raton's real estate market for December 2024 highlights a mix of trends across single-family homes and townhouses/condos. These insights provide a comprehensive view of the market's activity, inventory, and pricing fluctuations, helping buyers, sellers, and investors navigate the local landscape effectively.
Boca Raton Single-Family Home
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Closed Sales: 59, up 13% from a year ago.
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Median Sales Price: $949,000, down 17% from last year.
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Active Inventory: 351, slightly lower by 1.7% year-over-year.
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Months Supply of Inventory: 4.7 months, a drop of 4.9 months from December 2023.
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New Listings: 63, a 6% decline compared to last year.
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New Pending Sales: 46, down significantly by 22%.
Despite fewer new listings and a dip in pending sales, closed sales saw a healthy increase, showing strong demand for available inventory, even as pricing trends softened.
Boca Raton Townhouses and Condos
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Closed Sales: 53, unchanged from December 2023.
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Median Sales Price: $465,000, down 17% year-over-year.
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Active Inventory: 548, a 20% rise compared to last year.
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Months Supply of Inventory: 8.2 months, up from 6.4 months a year ago.
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New Listings: 112, a 0.9% increase year-over-year.
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New Pending Sales: 53, down 16% from last year.
The townhouse/condo sector experienced an increase in inventory and months of supply, reflecting expanded options for buyers. However, the reduced number of pending sales suggests a more selective purchasing trend.
December 2024 showcased contrasting movements in Boca Raton’s real estate market. Single-family homes experienced increased sales, a drop in prices, and a leaner inventory, signaling buyer enthusiasm amid reduced competition. Meanwhile, the townhouse/condo market expanded its inventory and supply, balancing steady sales with slightly reduced prices and slower buyer activity. Both markets reveal opportunities for well-informed buyers and sellers.
