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Elliman Report: Boca Raton Sales 3Q 2013

CONDO/TOWNHOUSE The number of sales surged 46.8% to 737, outpacing the 34.4% growth in supply to 1,265 listings from the prior year period. As a result, the average days on market, the number of days from the last price change to contract date, was two months faster, falling to 99 days.

SINGLE FAMILY The average size of a sale jumped 38.3% to 3,495 square feet from the same period last year. As a result, the median and average sales price expanded 11.1% and 12.6% respectively. The 18.6% drop in average price per square foot reflected the sharp rise in the average home size and the diminishing return.

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