Highland Beach FL Real Estate Market Report | July 2020
Highland Beach FL real estate market report for July continues to show low inventory. Condo prices showed an average 97% list-to-sale ratio while there were no single family homes sold this month. With new tax laws up north, low mortgage rates and very little new inventory coming on the market, it is making for a crazy market. Home sales in Highland Beach and surrounding cities show this, as well.
Of course, we still have snowbirds and snowflakes who come for our beautiful weather, though how many will actually show up this year is yet to be seen. We have new construction going up along the beach. Should you hire a buyer’s agent for new construction? You bet! It costs you, the buyer, nothing yet can end up saving you a fortune.
As a pet-friendly real estate agent in Boca Raton, Highland Beach, Delray Beach and surrounding areas, I am getting the word out to buyers who have been waiting and looking. Interest rates are very low. Now is the time to take advantage of them.
Some sellers are sitting tight while there are still some deals to be had. Contact me for more information.
So, what happened in the Highland 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!
CONDO SALES IN HIGHLAND BEACH FL
Highland Beach FL real estate market report showed as of July 31, 2020, there were 147 condos for sale. It’s a fairly low number for Highland Beach and may not sound like a lot, but people don’t realize how small Highland Beach FL really is. It runs from the Atlantic Ocean to the Intracoastal Waterway nestled between Boca Raton and Delray Beach, and is just 1.6 miles in total.
The highest-priced condo listing currently available in July was $ 5,995,000 and the lowest priced was $ 289,000.
No, that isn’t a mistake. You read it right! There are a wide variety of housing options in this small exclusive enclave along the Atlantic Ocean. Highland Beach has single family oceanfront homes, Intracoastal houses, condominiums and townhouses. There are newer condos and older condos, large condos and small condos. It runs all across the board.
Square footage of the available condos in Highland Beach ranged from 900 square feet to 6.300. While these two properties are at complete opposite ends of the spectrum, the average condo for sale in Highland Beach in July 2020 was listed at $ 938,970 and had 1927 square feet.
Note: Included in condos are townhouses and villas.
As of July 31, 2020, there were 19 single family homes for sale in Highland Beach FL. That’s a good amount of homes for sale in this beautiful oceanfront town.
The highest-priced listing currently available in July 2020 was $ 22,500,000 and the lowest priced was $ 2,000,000.
Square footage of the available homes in Highland Beach ranged from 1998 to 10,375. That’s quite a range, but the average home for sale in Highland Beach in July 2020 was listed at $ 7,557,421 and had 6,373 square feet.
Pending Highland 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.) As of July 31, 2020, there were 18 Pending Sales of condos in Highland Beach.
Pending Highland Beach Single Family Homes
As of July 31, 2020, there were no pending sales of single family homes in Highland Beach. Included in this are houses under contract, in backup status and pending waiting to close.
Closed Sales Highland Beach Condos
In July 2020, there were 21 closed sales of condos, villas and townhouses in Highland Beach, FL. That’s a fair amount of sales in this small seaside town. The average sale price for these condos was $ 758,586 and took an average of 127 days to sell.
Buyers are well prepared and savvy today for Highland Beach’s home sale market. Sellers need to price their properties correctly for the market we are currently in. Prices have gone up but overpriced homes still become stale listings. The average ratio of list-to-closed sales last month was 94%.
The most expensive condo in Highland Beach last month sold for $ 1,600,000. The lowest priced sale was $ 275,000.
Closed Sales Highland Beach Single Family Homes
In July 2020, there were no single family homes in Highland Beach, FL that closed.
Again, a reminder to sellers – price your property correctly for the market we are currently in, which has changed from the market we were in just a few months ago or a year ago. Buyers have more single family homes to see in Highland Beach FL, especially high-end homes. Don’t overprice, let it sit and become an old listing.
What can Highland Beach FL Residents Expect Regarding Real Estate In The Coming Months?
Home sales in Highland Beach FL are doing okay. There are condos and homes out there for sale. People are moving around now. With rental prices skyrocketing and low interest rates, many people have decided now is the time to buy. Sellers need to be aware and price their properties for today’s market if they want to get their home sold.
While this varies by building and 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, especially if you’re looking for a pet-friendly condo in Highland Beach, FL.
A Highland Beach Real Estate Agent You Can Trust
Consumers wanting to know more about homes for sale or any property in Highland 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/Highland Beach/Boynton area for 25 years. I am also a retired Court Reporter and volunteers my time on the Grievance Committee for the Realtors® of Palm Beach + Greater Fort Lauderdale Realtors®, which I love.
This Highland Beach real estate market report was provided by Elyse Berman, PA. I am a licensed residential Realtor® in Boca Raton FL. I 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
- Boca Raton FL Real Estate Market Report | July 2020
- Delray Beach FL Real Estate Market Report | July 2020
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 Highland Beach