Home Sales in Boynton Beach FL | May 2019 Market Report
May showed steady sales in Boynton Beach FL. We are a year-round market in south Florida, with more people moving here full time because of tax benefits, beautiful weather and an easy lifestyle. The number of listings increased slightly in May, while both condo prices and single family homes dipped. What also increased was the days on market.
With more homes coming on the market daily, homeowners who want to sell will want to be a bit more flexible now. The market is becoming more balanced. Of course, this can and does vary by community, but with increasing inventory, sellers should take notice.
As the top pet-friendly real estate agent in Boca Raton, Delray Beach, Boynton Beach, Highland Beach and surrounding areas, I am getting the word out to buyers who have been waiting and looking. They have their choice of new construction or resales. Lots of choices.
I recently had a buyer in a 55+ pet-friendly gated community who made offers on 4 houses where the sellers stood their ground. The buyer walked from each of the 4 houses and, ultimately, made a deal with the 5th seller. Sellers need to realize this and price their condos and homes accordingly.
So, what happened in the Boynton Beach real estate market this past month? Let’s check out the details and see if this market is the right one for you to buy or sell!
We’ve had a lot of fresh inventory hit the market in the past month or so. Buyers have more choices now than they’ve had in years – again, it varies by community.
CONDO SALES IN BOYNTON BEACH FL
As of May 31, 2019, there were 657 condos for sale in Boynton Beach FL. This remained pretty much the same as the previous month. It may sound like a lot, but many people don’t realize how big Boynton Beach really is. It runs from the Atlantic Ocean to the Intracoastal Waterway, central to the Florida Turnpike and west of that out to State Rd 7.
The highest-priced listing currently available in May was $ 3,300,000 and the lowest was $ 1.
.No, that isn’t a mistake. You read it right. It says $ 1. It’s in a country club with mandatory equity fees, yearly dues, condo fees and, usually, assessments. So while you can buy the condo for $ 1, you must pay mandatory equity, along with yearly dues and monthly fees to go along with it. I can tell you, it’s pricey.
Many people do not want to pay the additional fees associated with country clubs these days, unless they are die-hard golfers. There is also a condo priced at $ 1200 and a few are for sale at $ 1. Hard to believe, right?
There is a wide variety of options available in Boynton Beach from oceanfront and Intracoastal houses to small condos, gated communities – both all age and 55+ active adult. There are newer condos and older condos, newer homes and older homes. It is all across the board.
Square footage of the available condos in Boynton Beach ranged from 587 square feet to 3,930. While these two properties are at complete opposite ends of the spectrum, the average condo for sale in Boynton Beach in May 2019 was listed at $ 218,286 and had 1414 square feet.
Note: Included in condos are townhouses and villas.
As of May 31, 2019, there were 646 single family homes for sale in Boynton Beach. That sounds like a lot of homes, but it really isn’t given how big Boynton Beach really is.
The highest-priced listing currently available in May 2019 was $ 2,100,000 and the lowest priced was $ 155,000.
Square footage of the available homes in Boynton Beach ranged from 880 to 5,744. That’s quite a range, but the average home for sale in Boynton Beach in May 2019 was listed at $ 473,996 and had 2438 square feet.
Pending Boynton Beach Condos
Pending Sales include condos, villas and townhouses that are also contingent, backup status (both mean they are under contract but have contingencies waiting to be met) and pending (waiting to close.) In May 2019, there were 279 Pending Sales in Boynton Beach.
Pending Boynton Beach Single Family Homes
In May 2019, there was 432 Pending single family homes. Included in this are houses under contract, in backup status and pending waiting to close. That’s a lot of houses!
Closed Sales Boynton Beach Condos
In May 2019, there were 202 closed sales of condos, villas and townhouses in Boynton Beach, FL. The average sale price for these homes was $ 183,582. They took an average of 75 days to sell.
The days on market increased slightly. This is a reminder to sellers to price their properties correctly for the market we are currently in, which has changed from the market we were in last year. With increased inventory, buyers have more condos and homes to see. Don’t overprice and let your listing become old and stale. The sales price to list price ratio last month was 94%.
The most expensive condo in Boynton Beach last month sold for $ 565,000. The lowest priced sale was $ 1. And there were a few of them!
Closed Sales Boynton Beach Single Family Homes
In May 2019, there were 238 closed sales of single family homes in Boynton Beach, FL. The average sale price for these homes was $ 363,782. They took an average of 66 days to sell.
The days on market remained pretty much the same. This is a reminder to sellers to price their properties correctly, especially resales, for the market we are currently in. It has changed from the market we were in just a year ago. Buyers have more homes to see in Boynton Beach FL. Don’t overprice and let yours become an old listing. The sales price to list price ratio last month was 97%.
The most expensive house in Boynton Beach last month sold for $ 1,680,000. The lowest priced sale was $ 97,000.
What can Boynton Beach FL Residents Expect Regarding Real Estate In The Coming Months?
The market is stabilizing. We are seeing a shift to a buyer’s market in certain communities, especially in the 55+ resales. Sellers need to be aware of this and price their properties for today’s market, not the market of a year ago or even six months ago.
There is a lot of new construction of houses going on in western Boynton Beach, both all age and 55+ gated communities.
While this varies by community – some communities have more inventory, while others have very little, you need a great agent to explain these facts to get your home sold. Or, in the alternative, if you’re a buyer, you need a great buyer’s agent to do the research for you, whether you’re looking for a pet-friendly 55+ gated community in Boynton Beach or Delray Beach, FL or an all age pet friendly gated community in Boca Raton.
A Boynton Beach Real Estate Agent You Can Trust
Consumers wanting to know more about homes for sale or any property in Boynton Beach, Florida, whether new construction or resales, should call me. I can be reached at 561-716-7824, Cell or Text or by email at Elyse@ElyseBerman.com
A seasoned REALTOR® with a vast knowledge of the local market, Elyse has been in the Boca/Delray/Boynton Beach area for 25 years. She is a retired Court Stenographer and volunteers her time on the Grievance Committee for the Realtors® of Palm Beach + Greater Fort Lauderdale Realtors®.
This Boynton Beach real estate market report was provided by Elyse Berman, PA. Elyse is a licensed residential real estate agent in Boca Raton FL. She works at Best Connections Realty, Inc.
You can find Elyse on numerous social media networks or via her BuySellHomesBocaRaton Real Estate Blog. She is an active online marketer who loves helping residential real estate consumers, and their furry friends, in Palm Beach and northern Broward County. Note: She loves helping people find homes they love WITHOUT pets too!
More Palm Beach County Real Estate Market Reports
- Delray Beach Real Estate Market Report | May 2019
- Boca Raton Real Estate Market Report | May 2019
- Highland Beach Real Estate Market Report | May 2019
Disclaimer: The information contained in this blog should not be solely relied upon and should be independently verified by professional sources. The opinions expressed herein are solely mine.
All information is deemed accurate but not guaranteed. All statistical information was obtained from BMLS. Many articles may be time and date sensitive. Please be sure to look at the date it was posted.
No reproduction is permitted without the author’s express permission. All information deemed accurate. All information was taken from Beaches MLS.
Map of Boynton Beach