Market Report for the Valencias February 2023
Market report for the Valencias February 2023 shows closed sales in each of the Valencias in Delray Beach, Boynton Beach and Lake Worth, Florida. Read what went on in each Valencia community in Boynton Beach, Delray Beach and Lake Worth.
We have seen a slowdown, a shift, in the past few months from a strong seller’s market to a more balanced market. There has also been an increase in inventory in some of the Valencias. More inventory means more choices for buyers, more sales with contingencies and fewer, if any, multiple offers. Days on market has increased.
Read what went on in each Valencia community in Boynton Beach, Delray Beach and Lake Worth. Sales vary by community depending on the particular model, condition of the home, as well as inventory in the community. Many homes are still selling for close to asking or even above asking price.
WHAT ARE THE VALENCIAS
Located in south Palm Beach County, FL, the Valencias are upscale, pet-friendly 55+ gated communities. Each community has a state-of-the-art fitness center, grand clubhouse with pools, social halls, card rooms, cafes for breakfast and lunch, social events, billiards, tennis, pickle ball, clubs, arts and crafts, and an active lifestyle geared towards today’s baby boomers. You can be as busy as you want or not. It’s like camp for adults!
Market Report for 55+ Valencia Communities for February 2023
This market report for the Valencias includes the 55+ gated communities in Delray Beach, Boynton Beach and Lake Worth which include: Valencia Lakes, Valencia Isles, Valencia Shores, Valencia Falls, Valencia Palms, Valencia Pointe, Valencia Reserve, Valencia Cove, Valencia Bay and Valencia Sound. There are currently 10 Valencia communities with another, Valencia Grand, under construction.
Harvard Business Review says Having a Dog Can Save Your Heart – Literally – and I agree! So it’s a good thing the Valencias are 55+ pet friendly gated communities in Delray Beach,
Boynton Beach and Lake Worth, Florida
Caution: If you think you may have a breed-restricted dog or a few pets, check the particular Valencia you’re interested in first. Do your due diligence. Don’t rely on what someone told you or what the listings say. Listings are often wrong. Find out from the source. Because while the Valencias are pet-friendly, they may not be pet friendly to all breeds and number of pets.
The past year has been a complex one in real estate. There has been very low inventory and prices have gone up. Although the market has softened, prices are still up. Inventory varies from one Valencia to another. The older Valencias have more homes for sale than the new ones. Makes sense – it’s the cycle of life. Days on market are up too. Read on and you will see.
Prices also vary from one community to another.. Lower priced homes can be found in the older Valencias (well, not that old!) and they go way up in the newer homes. You can still get a good deal if you’re not looking for new and willing to do some work, in my opinion. If you’re willing to take a resale versus new, you will do much better on price, taxes and probably location, too. Some of the houses in the older Valencias are barely 10-15 years old.
Buyer Beware
The builder has raised prices considerably the past several years even with the deals he’s offering now, but there are a lot of great resale homes in other Valencia communities. You need a great Valencia Real Estate agent to help you find the best deals – someone who is on your side, not the builder’s side or the seller’s side.
Don’t make the mistake of going directly to the builder or listing agent alone. Always take a buyer’s agent with you. Reason? Builders’ sales people don’t care which community you buy in or what lot you buy. They’re not going to tell you about traffic and noise or the lot, but an honest buyer’s agent will.
And listing agents have a contract with the seller to get them the highest price possible. So how does that benefit you, the buyer? Simple. It doesn’t. Yes, they can help you and they’re more than willing to. Why? Because it allows them to collect a double commission without working for you, the buyer. Make sense now?
If you think about it: How can they get you, the buyer, the best deal? The answer is simple: They can’t. They have a fiduciary responsibility to the seller. Caveat Emptor! Buyer Beware!
WHAT HAPPENED IN THE VALENCIA COMMUNITIES IN FEBRUARY 2023?
There are currently 62 homes for sale in the Valencias. That’s only 4 more than there was at the end of November Currently, there are 67 homes under contract – more than double the number of homes that were under contract at the end of November!
View All Homes for Sale in the Valencias
Valencia Market Report for February breaks down like this:
MARKET REPORT FOR VALENCIA LAKES
Valencia Lakes had 3 homes that closed in February. Average list price of the houses was $ 542,633. Average sold price for the homes was $ 513,333. Houses are selling for an average of .95% of asking price. Selling price ranged from .93% or asking price to .95%.
Average days on market was 94. Days on market has definitely increased in Valencia Lakes.
There are currently 11 homes for sale in Valencia Lakes, and 6 homes are under contract.
View All Homes for Sale in Valencia Lakes
MARKET REPORT FOR VALENCIA ISLES
Valencia Isles
had 2 homes that closed in February. Average list price of houses was $ 524,500. Average sold price for the homes was $ 552,500. Houses are selling for an average of 1.07% of asking price Homes closed between 1.02% and 1.11% over asking price in Valencia Isles in February. Wow!
Average days on market was 2. This was down significantly.
There are currently 8 homes for sale in Valencia Isles, and 10 homes are under contract.
View All Homes for Sale in Valencia Isles
MARKET REPORT FOR VALENCIA SHORES
Valencia Shores
had 2 homes that closed in February. Average list price of the homes was $ 569,900. Average sold price for the homes was $ 550,000. Houses are selling for an average of .96% of asking price. They ranged between .96% and .97% of asking price.
Average days on market was 99. That’s up considerably from November.
There are currently 4 homes for sale in Valencia Shores, and 7 homes are under contract.
View All Homes for Sale in Valencia Shores
MARKET REPORT FOR VALENCIA FALLS
Valencia Falls
had 2 homes that closed in February. Average list price of the homes was $ 719,900. Average sold price for the homes was $ 707,000. Houses in Valencia Falls sold for an average of .98% of asking price across the board..
Average days on market was 49. Days on market was also up.
There are currently 12 homes for sale in Valencia Falls, and 11 homes are under contract.
View All Homes for Sale in Valencia Falls
MARKET REPORT FOR VALENCIA PALMS
Valencia Palms
had 1 home that closed in February. Listing price of the home was $ 599,000. The home sold for $ 580,000, 97% of the asking price.
It was on the market 26 days.
There are currently 4 homes for sale in Valencia Palms and 1 home is under contract.
View All Homes for Sale in Valencia Palms
MARKET REPORT FOR VALENCIA POINTE
Valencia Pointe
had 2 homes that closed in February. Average list price of the homes was $ 577,500. Average sold price of the homes was $ 562,500, 97% of asking price. They ranged from .97% to .98% of asking price.
Average days on market was 36.
There are currently 2 homes for sale in Valencia Pointe, and 6 homes are under contract.
View All Homes for Sale in Valencia Pointe
MARKET REPORT FOR VALENCIA RESERVE
Valencia Reserve
had 1 home that closed in February. The home was listed at $ 699,999. It sold for asking price at $ 640,000., 91% of asking price.
Average days on market was 84.
There are currently 3 homes for sale in Valencia Reserve, and 4 homes are under contract.
View All Homes for Sale in Valencia Reserve
MARKET REPORT FOR VALENCIA COVE
Valencia Cove had 5 homes that closed in February. Average list price of the homes was $ 1,126,800. Average sold price of the homes was $ 1,056,876. Homes sold for an average .94% of asking price. They went as high as .99% of asking price and as low as ..89% of tasking price. That’s more of a range than we’ve seen in the other Valencias.
Average days on market was 23. There are currently 15 homes for sale in Valencia Cove, and 3 homes under contract.
View All Homes for Sale in Valencia Cove
MARKET REPORT FOR VALENCIA BAY
Valencia Bay had 2 homes that closed in February. The average list price of the homes was listed at $ 1,424,500. The average sold price was $ 1,424,500. Houses sold for asking price in Valencia Bay in February.
Average days on market was 34.
There is currently 1 home for sale in Valencia Bay, and 4 homes are under contract
View All Homes for Sale in Valencia Bay
MARKET REPORT FOR VALENCIA SOUND
Valencia Sound had 2 homes that closed in February. Average list price of the homes was $ 1,762,000. Average sold price of the homes was $ 1,687,500. Homes sold between .95% and .97% of asking price.
Average days on market was 75.
Currently, there are 6 homes for sale in Valencia Sound, and 12 homes are under contract.
View All Homes for Sale in Valencia Sound
New Construction
The market has slowed down in new construction. The frenzied buying of the last year and a half with zoom lotteries are a thing of the past. Builders are offering credits and money back now, a good thing for buyers.
Should you go directly to the builder? NO! Taking a buyer’s agent with you costs you nothing and they have plenty of experience in things you may not be aware of.
A real buyer’s agent – not someone who claims to be. I can help you with new construction as well as resales in any of the Valencia communities.
You need someone on YOUR side. The builder is not on your side. The nice sales people in the office are not on your side – they are there to sell houses. Neither is the listing agent on the sign on your side. Take a few moments and read that article.
Things to Think About
In today’s world of new construction, you also have to consider when your house will be built. I’ve built two homes, but times are different today. We weren’t dealing with supply chain issues, as we are today. In my opinion, while building a house is nice, it’s also nice to know when it will be done and what the final cost will be. With a resale – even if it is just a few years old, it’s something tangible. You can see it, feel it and touch it. You know what you’re getting. Make sense? Some people only want new, and that’s fine. Just know upfront what you’re getting involved in.
And for my pet lovers, if you have a certain breed of dog, check which Valencia will accept your furry friend Same thing goes for number of pets and fences. Buyer Beware! Not every Valencia may be dog friendly to your specific breed of dog or two or three. Some have changed their pet restrictions through the years. And not all Valencias allow fences.
Have a question? Go on! Ask Me!
Please feel free to reach out to me at (561) 716-7824 so we can talk about your personal housing needs and questions you have about the housing market. We’ll also discuss how local market conditions can affect your buying and selling needs and plans. Then we can create a strategy to buy and/or sell your Valencia home.
For more information about 55+ pet-friendly housing in Boca Raton, Delray Beach, Highland Beach, Boynton Beach or Boca Raton real estate market, please contact me.
I can be reached at (561) 716-7824, by text or email at Elyse@ElyseBerman.com.
Related Dog and Pet friendly articles:
- 9 Best Pet Friendly 55+ Communities in Delray, Boynton Beach FL
- Pet friendly condos in Boca Raton and Highland Beach
- Pet friendly gated communities in Boca Raton
- Pet friendly 55+ Active Adult Communities in Delray Beach
- Must See 55+ Villas in Boynton Beach, Florida
Real estate market data for the Market Report for the Valencias in Delray Beach, Boynton Beach and Lake Worth, FL provided by Elyse Berman of LoKation Real Estate All information was obtained from the Multiple Listing Service and sold by various MLS participants. The information is not guaranteed or warranted.
