Boca Raton

Boca Raton’s fourth quarter was a period of unrefined growth across all property types. Condo median sales prices increased 10 percent year-over year, but at $165,000, levels remained affordable. Leaps in buyer interest account for much of the growth in Boca Raton’s condo market, illustrated by the increased speed at which properties are selling; average days on market dropped 14.4 percent from 97 days to 83 in 2014’s fourth quarter.

The city’s single-family market benefited from similar gains, those slightly less pronounced. Median sales prices rose 6.6 percent year-over-year to $373,000, as did the number of transactions, which rose 8.2 percent. Inventory levels from October to December remained relatively stagnant. However, the city’s single-family home absorption period fell 6.6 percent, which marks a slowing sales pace – a welcome shift in a single-family market approaching overvalued.