Boca Raton, FL home prices and housing market

In Boca Raton right now, the gap between what sellers ask and what homes actually sell for tells you almost everything. The median list price is about seven hundred sixty-two thousand five hundred dollars, but the typical home value is closer to six hundred seventy-nine thousand dollars. That spread is not small, and buyers are not rushing to close it. Homes are sitting a median of seventy-three days before going under contract, which gives buyers real room to negotiate. Values are still up about 1.4 percent over the past year, so this is not a market in decline. It is a market where overpricing gets punished quietly. There are roughly one thousand nine hundred homes for sale, with about 540 new listings coming on in the past month, so sellers have plenty of competition. Only about 15 percent of listings have cut their price, which tells me many sellers are still holding firm on numbers the market has not agreed to yet. If you are selling in Boca this summer, price to the value, not to the dream.