Boca Raton Condos- Highland Beach Condos

Filed in What's New? by on March 20, 2016

Boca Raton Ocean Condos

Boca Raton Real Estate

With condo season in full swing I figured it was a good time to report on whats happening in the Boca Raton and Highland Beach condo markets. Following the market trends of many other beach communities we are seeing similar results. The Boca Raton condo market has very few newer condos and most sit directly on the sand with the most popular ones also facing Lake Boca Raton. Highland Beach is very similar to Singer Island with the narrow strip of land gives many condos both ocean and Intracoastal views.

The active condos for sale in Boca Raton and Highland Beach was steady at 476 condos which is very similar to the Singer Island market.  New Boca Raton condos for sale were down a bit at 202. Here is where we are seeing the trend I have been seeing this selling season. Under contract condos were down 20% from 134 to 106 this year. Actual condo sales were down 30% from 90 last year to just 63 this year.  Boca Raton followed Juno Beach and Jupiter Island condos with a huge price increase for condos with the average sales price up 25% from $681,000 to $854,000. Only three area saw huge price increases year over year and they were Boca Raton-Highland Beach, Juno Beach and Jupiter Island yet they all followed the same trend with sales and under contract condos. All were down a large percentage from last year. Mainly I believe in these areas is due to the rapid rise in prices. Most other areas saw smaller gains in prices and didn’t see quite the massive drop in actual condo sales.

Boca Raton Ocean Condos $300k-$400K                 Boca Raton Ocean Condos $400-$500K

Boca Raton Ocean Condos $500k-$750K                 Boca Raton Ocean Condos $750-$1 million

Boca Raton Ocean Condos $1mil-$1.5mil                  Boca Raton Ocean Condos $<1.5Mil

Oceanfront Condos- Boca Raton & Highland Beach

Overall our selling season has been much quieter than last year as well as shorter due to the early coming of Easter this year. Our prime oceanfront condo selling season runs from January 1 till April 1. The North had an exceptional warm season this winter along with rising prices in many beach areas is pushing many potential buyers to become renters instead. The sudden spike in sales prices have increased the carrying costs of many condos that are being used only for a few months per year and I don’t think we are going to see much appreciation over the next 5 years so buyers really don’t see an urgency to purchase. Seasonal rentals are as tight as you could imagine and prices for seasonal rentals are rapidly rising at rates of 10% or more over the last few years in many cases. I think we should continue to see great demand for seasonal Boca Raton beach condos as well as other areas along the coast. Call us to show you the best deals on beachfront communities from Boca Raton to Jupiter.

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