Home Sales in Highland Beach FL | May 2019 Market Report
May showed steady sales in Highland Beach, FL. Although we are a year-round market in south Florida, with more people moving here full time, winter months bring snowbirds and snowflakes into town for our beautiful weather and fabulous beaches. The number of listings decreased slightly in May, while condo prices rose 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, Highland Beach, Delray Beach and surrounding areas, I am getting the word out to buyers who have been waiting and looking. 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 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!
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 HIGHLAND BEACH FL
As of May 31, 2019, there were 159 condos for sale in Highland Beach FL. This is more than it was the previous month. It may sound like a lot, but many people don’t realize how small Highland Beach 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 listing currently available in May was $ 6,700,000 and the lowest was $ 291,000.
No, that isn’t a mistake. You read it right. There is a wide variety of options available in Highland Beach from oceanfront and Intracoastal houses to small condos. There are newer condos and older condos. It is all across the board.
Square footage of the available condos in Highland Beach ranged from 500 square feet to 6.245. While these two properties are at complete opposite ends of the spectrum, the average condo for sale in Highland Beach in May 2019 was listed at $ 317,931 and had 1293 square feet.
Note: Included in condos are townhouses and villas.
As of May 31, 2019, there were 21 single family homes for sale in Highland Beach. That’s a lot of homes considering how small Highland Beach really is.
The highest-priced listing currently available in May 2019 was $ 24,500,000 and the lowest priced was $ 2,125,000.
Square footage of the available homes in Highland Beach ranged from 3,418 to 11,322. That’s quite a range, but the average home for sale in Highland Beach in May 2019 was listed at $ 7,576,571 and had 6,953 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.) In May 2019, there were 24 Pending Sales in Highland Beach.
Pending Highland Beach Single Family Homes
In May 2019, there was 1 Pending single family home. Included in this are houses under contract, in backup status and pending waiting to close.
Closed Sales Highland Beach Condos
In May 2019, there were 18 closed sales of condos, villas and townhouses in Highland Beach, FL. The average sale price for these homes was $ 670,372. They took an average of 93 days to sell.
The days on market has started to increase. 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 yours become an old, stale listing. The sales price to list price ratio last month was 95%.
The most expensive condo in Highland Beach last month sold for $ 1,850,000. The lowest priced sale was $ 310,000.
Closed Sales Highland Beach Single Family Homes
In May 2019, there were 2 closed sales of single family homes in Highland Beach, FL. The average sale price for these homes was $ 2,250,000. They took an average of 107 days to sell.
The days on market remained pretty much the same. 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 just a year ago. Buyers have more homes to see in Highland Beach FL. Don’t overprice and let yours become an old listing. The sales price to list price ratio last month was 98%.
The most expensive house in Highland Beach last month sold for $ 2,800,000. The lowest priced sale was $ 1,700,000.
What can Highland 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.
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, 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, Elyse has been in the Boca/Delray/Highland Beach/Boynton 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 Highland 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!
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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