Boca Raton

In diagnosing the Boca Raton market, Douglas Elliman largely focused on the area’s luxury market, which experienced significant jumps in both prices and inventory.

For condos, median price rose 36.8 percent year-over-year to $900,000 – nearly $300,000 above the luxury threshold – while single-family homes jumped a less impressive 10.6 percent to $1.65 million. At an average of 52 days on the market, down from 64, condos were selling like hot cakes in the South Florida city, but single-family was another story, with properties typically spending 178 days on the market.

Listing inventories were up 7.7 percent for condos and 1.9 percent for single-family.

Ft. Lauderdale

Similar to Boca Raton, Douglas Elliman largely focused on Ft. Lauderdale’s luxury market in its report, finding that a slow down in price appreciation suggests a move towards sustainable stabilization.

For condos, median price rose 11.1 percent year-over-year to $1 million – nearly $300,000 above the luxury threshold – while single-family homes jumped a less impressive 2.6 percent to $2 million – more than $500,000 above the luxury threshold. At an average of 134 days on the market, up from 113, condos sales were clearly leveling out in the South Florida city, while single-family properties typically spent 203 days on the market, which, with only 236 units current available, isn’t terribly surprising.

Listing inventories were up 0.9 percent for condos and 22.1 percent for single-family.