Valencia Real Estate Market Update: November 2023

 

 

Valencia Real Estate Market Update for November 2023 shows closed sales in each of the Valencia communities in Delray Beach, Boynton Beach and Lake Worth, Florida.  It also shows how many homes are active and under contract.  Read what went on in each Valencia in Boynton Beach, Delray Beach and Lake Worth in November.

We had a busy summer.  Then all of a sudden came the beginning of October and everything virtually stopped. I believe several factors were involved which caused buyers to stop in their tracks.

We now have more inventory than we’ve seen in a long time.  There has been a lot of talk about insurance and homes needing new roofs.  It’s true.  This has been happening in Florida the past few years.  So if a home has a new roof or is in the process of getting a new roof – it takes time to get permits and order roof tiles – the home will likely sell.  Of course, you still have to think about location and what the rest of the house looks like, but a roof is a big-ticket item.  So buyers would rather have it done than not done.

More inventory means more choices for buyers, more sales with contingencies and fewer, if any, multiple offers.  Days on market has increased.  But what I’ve also seen is sellers holding their ground and sticking to their prices.  How this will play out in the next few months we’ll see.

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 southern Palm Beach County, FL, the Valencias are upscale, pet-friendly 55+ gated communities full of amenities. Think camp for adults.   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.  If you’re the type who goes in and out of your garage and never sees the inside of a clubhouse, that’s fine too.

 

Valencia Real Estate Market Report  for November 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, Valencia Sound and Valencia Grand.  There are currently 11 Valencia communities in just our area of south Florida.  

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 several pets (more than two), 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 the number of pets you may have.

Same thing goes for fences.  If you plan to fence your yard without a pool, find out if the community allows it.  Not all Valencias allow fences.

 

WHICH VALENCIA TO GO TO

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 high.  Inventory varies from one Valencia to another.  The older Valencias have more homes for sale than the new ones and prices are more reasonable.  Makes sense – it’s the cycle of life.   But, depending on your age, you have to think – can you wait?  Maybe you can.  And maybe you can’t or maybe you don’t want to.  You may be like some who think – If not now, when?   That’s a decision only you can make.

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 location, too.  Some of the houses in the older Valencias are barely 10-15 years old.

 

SHOULD YOU GO DIRECT TO THE BUILDER

 

Prices have gone up considerably the past several years, especially in new construction.  You’re looking at close to a million dollars as a starting point to build a new home in this area.  But there are a lot of great resale homes in other Valencia communities.  Remember, we have 11 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 who is working for the seller to get them the highest price possible.

Don’t make the mistake of going directly to the builder or listing agent alone.  Always take a buyer’s agent with you.  Why?  Because 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 or noise or the lot, but an honest buyer’s agent will.  Ask me about it!  Ask me about the stories!

And listing agents have a contract and a fiduciary responsibility with the seller to get them the highest price possible.  So how does that benefit you as a 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.  Sure, they’ll write up the contract but they’re not working for you.  They’re working for the seller.  Remember that.  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.  Caveat Emptor!  Buyer Beware!

 

SO WHAT HAPPENED IN THE VALENCIA COMMUNITIES IN NOVEMBER 2023

 

There are currently 101 homes for sale in the Valencias and 27 homes under contract.  That’s not a lot of inventory!  Let’s see how it breaks down by community.

 

 

View All Homes for Sale in the Valencias

 

Valencia Real Estate Market Update for November breaks down like this:

 

VALENCIA LAKES MARKET REPORT

 

Valencia Lakes had no homes that closed in November.

There are 7 homes currently listed for sale.  The average list price of the houses is $ 591,686.

There are 6 homes in  under contract in Valencia Lakes at this time.

 

 

 

 

 

 

VALENCIA ISLES MARKET REPORT

 

Valencia Isles had 5 homes that closed in November.  Average list price of houses was $ 647,780.  Average sold price for the homes was $ 648,800.  Houses sold  for an average of asking price in November   They closed between 93% and 1.11% over asking price in Valencia Isles in November.

Average days on market was 41.

There are currently 15 homes for sale in Valencia Isles, and 3 homes are under contract.

 

 

 

 

 

 

VALENCIA SHORES MARKET REPORT

 

Valencia Shores had 3 homes that closed in November.  Average list price of the homes was $ 641,300.  Average sold price for the homes was $ 615,967.  Houses sold for an average of .96% of asking price.  They ranged between .93% and .98% of asking price.

Average days on market was 54.

There are currently 13 homes for sale in Valencia Shores, and 2 homes are under contract.

 

 

 

 

 

 

VALENCIA FALLS MARKET REPORT

 

Valencia Falls had 3 homes that closed in November.  Average list price of the homes was $ 691,667.  Average sold price for the homes was $ 666,667.  Houses in Valencia Falls sold for an average of .96% of asking price..  They ranged between .96% and .97% of asking price..

Average days on market was 35.

There are currently 9 homes for sale in Valencia Falls, and 2 homes are under contract.

 

 

 

 

 

 

 

 

VALENCIA PALMS MARKET REPORT

 

Valencia Palms had 3 homes that closed in November.  Average listing price of the homes was $ 853,000.  Average sold price for the homes was $ 847,333, 99% of asking price.  They ranged from .98% to 1.00% – asking price.

Average days on market 44.

There are currently 12 homes for sale in Valencia Palms and 2 home are under contract.

 

 

 

 

 

 

 

 

 

VALENCIA POINTE MARKET REPORT

 

Valencia Pointe had 3 homes that closed in November.  Average list price of the homes was $ 752,333.  Average sold price of the homes was $ 730,000, 97% of asking price.  They ranged .92% to 1.00% – asking price.

Average days on market was 9.

There are currently 11 homes for sale in Valencia Pointe, and 1 homes is under contract.

 

 

 

 

 

 

 

 

VALENCIA RESERVE MARKET REPORT

 

Valencia Reserve had 1 home that closed in November.   The home was listed at $ 569,000.  It sold for $ 540,000, 95% of asking price.

Days on market was 49.

There are currently 3 homes for sale in Valencia Reserve, and 2 homes are under contract.

 

 

 

 

 

 

 

 

 

VALENCIA COVE MARKET REPORT

 

Valencia Cove had 2 homes that closed in November.  Average list price of the homes was $ 875,000.  Average sold price of the homes was $ 860,000.  Homes sold for an average .98% of  asking price.  They ranged from .95% to 1.00% – asking price.

Average days on market was 30.

There are currently 16 homes for sale in Valencia Cove, and 2 homes are under contract.

 

 

 

 

 

 

VALENCIA BAY MARKET REPORT

 

Valencia Bay had no homes that closed in November.

There are currently 10 homes for sale in Valencia Bay.   No homes are currently under contract

 

 

 

 

 

 

VALENCIA SOUND MARKET REPORT

 

Valencia Sound had 3 homes that closed in November.  Average list price of the homes was $ 1,421,667..  Average sold price of the homes was $ 1,346,667.

Homes sold for an average of 94% of asking price.  The ranged from .89% to 98%  of asking price.

Average days on market was 33.

Currently, there is 1 home for sale in Valencia Sound, and 1 home is under contract.

 

 

 

 

 

 

VALENCIA GRAND MARKET REPORT

 

 

Valencia Grand had no homes that closed in November.

There are 4 homes listed for sale.  The average price of the homes listed is $ 1,845,425.

There are no homes currently under contract

 

 

$1,489,000 Active

9747 Spruce Woods Drive Boynton Beach, Florida

5 Beds 4 Baths 2,708 SqFt

$2,150,000 Active

11368 Apricot Valley Dr Boynton Beach, Florida

3 Beds 4 Baths 2,964 SqFt

$2,400,000 Active

11242 Glen Orchard Lane Boynton Beach, Florida

4 Beds 5 Baths 3,170 SqFt

$2,050,000 Active

10925 Glen Orchard Lane Boynton Beach, Florida

4 Beds 4 Baths 3,465 SqFt

 

NEW CONSTRUCTION

 

The market has picked up again in new construction.  With higher interest rates, some builders are offering incentives on their rates.  And in this area of south Florida, there are very few new construction homes, 55+ or otherwise, simply because we are almost out of land.  Builders are back.  Some people prefer new construction.

 

SHOULD YOU GO DIRECTLY TO THE BUILDER?

 

Should you go directly to the builder?  NO!  Taking a buyer’s agent with you costs you nothing and they have 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.

Builders do NOT negotiate on the price of homes.  So why not take someone with you who can help you, the buyer?

 

Things to Think About

 

After reading this edition of the Market Report for the Valencias, there are some things to consider if you’re planning to build a house.  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.

Quick delivery is an option with builders.  That means the house is either ready to be sold now or it will be soon.  Permits have been done, the house is in some soon-to-be-completed stage and the builder wants it sold.  This is a good option as you know what you’re getting.

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 you may have 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 may have about the housing market. We’ll also discuss how local market conditions can affect your buying and selling needs and plans. Then we will 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.

Map of the Valencias in Boynton Beach, Delray Beach & Lake Worth

Valencia Real Estate Market Update: November 2023

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