November 2024
Boca Raton Market Stats
Boca Raton’s real estate market in November 2024 showcased significant trends across single-family homes and townhouses/condos. Here’s a closer look at the data:
Boca Raton Single-Family Home
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Closed Sales: 48, a decrease of 5.9% compared to November 2023.
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Median Sales Price: $867,000, down 9.3% year-over-year.
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Active Inventory: 374 homes, 3.6% lower than last year.
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Months Supply of Inventory: 5.0 months, a decline of 5.3%.
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New Listings: 81, a sharp drop of 26% compared to a year ago.
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New Pending Sales: 63, marking a 13% increase year-over-year.
These shifts indicate reduced activity in new listings and active inventory, coupled with rising demand reflected in increased pending sales.
Boca Raton Townhouses and Condos
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Closed Sales: 31, a steep decline of 47% year-over-year.
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Median Sales Price: $470,000, up by 30% compared to November 2023.
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Active Inventory: 551, a rise of 23% from last year.
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Months Supply of Inventory: 8.3 months, up from 6.3 months last year.
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New Listings: 123, a slight decrease of 2.4% year-over-year.
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New Pending Sales: 50, a modest increase of 2% compared to November 2023.
The townhouse/condo sector showed contrasting trends with declining closed sales but a notable surge in median sales price and inventory.
The November 2024 real estate market in Boca Raton experienced reduced activity in closed sales for both single-family homes and townhouses/condos, alongside declining new listings. However, the market displayed strength with increased pending sales and rising prices in the townhouse/condo sector. These mixed patterns underscore a transitional phase in Boca Raton's housing landscape.
