Home Sales in Boynton Beach FL | July 2019 Market Report
The real estate market showed steady sales but decreased inventory in Boynton Beach FL. More people are moving here full time because of tax benefits, beautiful weather and our easy South Florida lifestyle.
The number of single family homes for sale decreased, while the number of condos, villas and townhouses increased slightly in July. Prices for sale increased slightly on condos, villas and townhouses as did prices of single family homes.
Days on market remained pretty much the same for both condos and single family homes.
The housing market in Boynton Beach has changed. It’s a buyer’s market with lower inventory. This can and does vary by community with more available homes in the 55+ active adult communities, but with decreased inventory and low interest rates, buyers and sellers need to take notice. They also need to have a great buyer’s agent for new construction or a resale.
As a 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 watching. They have their choice of new construction or resales.
Whereas, six months ago I had a buyer in a 55+ pet-friendly gated community who made offers on 4 houses where the sellers stood their ground, this is no longer the case. The buyer walked from each of the 4 houses and, ultimately, made a deal with the 5th seller. Now the inventory has dried up.
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 less inventory hit the market in the past month or so. Buyers have to move fast now if they find the home they want. Again, it varies by community.
CONDO SALES IN BOYNTON BEACH FL
As of July 31, 2019, there were 592 condos for sale in Boynton Beach FL. This increased slightly from June. It still 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 in the east, 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 $ 0.50. Yes, you read that right. No, that isn’t a mistake.
The condo for 50 cents is in a country club with mandatory equity fees, yearly dues, condo fees and, usually, assessments. So while you can buy the condo for $ 0.50, you must pay mandatory equity, along with yearly dues and monthly fees to go along with it. I can tell you, it gets pricey.
Many people do not want to pay the additional fees associated with country clubs these days, unless they are die-hard golfers. There are also 4 condos priced at $ 1.00. Hard to believe, right?
There are a wide variety of housing options available in Boynton Beach. They run from oceanfront and Intracoastal homes to central Boynton, where there is a mix of non-gated and gated communities, both 55+ active adult, as well as all ages. There are both newer condos and older condos, new homes and older homes. It is all across the board.
Square footage of the available condos in Boynton Beach ranged from 570 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 July 2019 was listed at $ 226,044, up from June, and had 1437 square feet
Note: Included in condos are townhouses and villas.
As of July 31, 2019, there were 557 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. It’s a drop from last month.
The highest-priced single family home currently available in July 2019 was $ 2,140,880 and the lowest priced was $ 135,000.
Square footage of the available homes in Boynton Beach ranged from 501 to 4,745. The average home for sale in Boynton Beach in July 2019 was listed at $ 474,695 and had 2380 square feet.
Pending Boynton Beach Condos
Pending Sales include condos, villas and townhouses that are also contingent, backup status (meaning they are under contract but have contingencies waiting to be met) and pending (waiting to close.) In July 2019, there were 55 Pending Sales in Boynton Beach. That’s less than half of pending home sales in July .
Pending Boynton Beach Single Family Homes
In July 2019, there was 40 Pending single family homes. Included in this are houses under contract, in backup status and pending waiting to close. That’s a significant decrease from last month!
Closed Sales Boynton Beach Condos
In July 2019, there were 198 closed sales of condos, villas and townhouses in Boynton Beach, FL. The average sale price for these homes was $ 190,589. They took an average of 71 days to sell.
While the days on market remained steady, prices increased as did the number of homes sold. 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 or even several months ago. With decreased inventory, buyers now have fewer condos and homes to see, but they are still savvy. Don’t overprice and let your listing become old and stale.
The sales price to list price ratio of condos, villas and townhouses in July was 95%.
The most expensive condo in Boynton Beach last month sold for $ 810,000. The lowest priced sale was $ 1.
Closed Sales Boynton Beach Single Family Homes
In July 2019, there were 228 closed sales of single family homes in Boynton Beach, FL. The average sale price for these homes was $ 356,159. They took an average of 82 days to sell.
Days on market remained increased slightly in July, while the number of sales and their closing prices remained steady. The real estate market has changed from the market a year or even months ago. We are in a buyer’s market but with less inventory. The sales price to list price ratio last month was 97%.
The most expensive house in Boynton Beach last month sold for $ 1,275,000. The lowest priced sale was $ 83,883.
What can Boynton Beach FL Residents Expect Regarding Real Estate In The Coming Months?
The market has changed again. We have seen a shift to a buyer’s market but with less inventory in certain communities. Sellers need to be aware of this and price their properties for today’s market, not the real estate market of a year ago or even six months ago.
There is a lot of new construction going on in western Boynton Beach, both all ages and 55+ gated communities.
While it can vary by community – some communities have more inventory, while others have very little – you need a great agent to explain these facts and 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, I have been in the Boca/Delray/Boynton Beach area for 25 years. I am a retired Court Reporter and volunteer my time on the Grievance Committee for the Realtors® Association of Palm Beach + Greater Fort Lauderdale Realtors®.
This Boynton Beach real estate market report was provided by Elyse Berman, PA. I am a licensed residential real estate agent in Boca Raton FL. I work at Best Connections Realty, Inc.
You can find me on numerous social media networks or via her BuySellHomesBocaRaton Real Estate Blog. I am an active online marketer who loves helping residential real estate consumers, and their furry friends, in Palm Beach and northern Broward County. Note: I love helping people find homes they love WITHOUT pets too!
More Palm Beach County Real Estate Market Reports
- Highland Beach FL Real Estate Market Report | July 2019
- Boca Raton FL Real Estate Market Report | July 2019
- Delray Beach FL Real Estate Market Report | July 2019
- Delray Beach FL Real Estate Market Report | June 2019
- Highland Beach FL Real Estate Market Report | June 2019
- Boca Raton FL Real Estate Market Report | June 2019
- 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