Housing Market in Boca Raton and Delray Beach

Boca Raton FL

In Boca Raton, homes receive an average of 3 offers and sell in around 65 days. The median sale price of a home in Boca Raton was $650,000, down 1.5% since last year. The median sale price per square foot in Boca Raton is $349, down 0.71% since last year. There were 275 homes sold in June 2023, down from 306 the previous year ¹.

Delray Beach FL

In Delray Beach, homes receive an average of 2 offers and sell in around 64 days. The median sale price of a home in Delray Beach was $370,000, down 7.5% since last year. The median sale price per square foot in Delray Beach is $273, down 9.3% since last year. There were 178 homes sold in June 2023, down from 231 the previous year ².

Competitive Seller Market

The housing market in Delray Beach, Florida is considered a seller’s market, which means that prices tend to be higher and homes sell faster. Here are some key points:

• The median sold price for homes in Delray Beach was $375,173, which is a decrease of 3.7% compared to June 2022.
• The median sold price by bedroom count varied:
  • 1 bedroom: $154K, a decrease of 7.8% from June 2022
  • 2 bedrooms: $272.9K, an increase of 0.3% from June 2022
  • 3 bedrooms: $627K, an increase of 5.7% from June 2022
  • 4 bedrooms: $1.2M, an increase of 9.9% from June 2022
  • 5+ bedrooms: $2.5M, an increase of 19.2% from June 2022
• The number of homes for sale in Delray Beach decreased by 4.3% between May 2023 and June 2023.
• 82% of homes sold in Delray Beach in June 2023 were sold below the asking price.
• The average time it took to sell a home in Delray Beach increased to 45 days in June 2023, which is a 135.3% increase from June 2022.