Boca Falls Real Estate Analysis for Early 2016
Average sale prices in Boca Falls went up 4% to just over $570,000 in the first half of 2016, compared to the second half of 2015 ($549K). The increase was a full 7% compared to the year-earlier period, the first half of 2015 ($533K). The latest numbers work out to $186 per square foot, up from $170/sq.ft. a year earlier.
There were fewer distressed homes sold in the latest period, but they still held down the numbers a bit. The two least expensive transactions were an REO ($471K) and a short sale ($480K). The bottom one was marketed in a YouTube video:
Most of the homes were sold at a full 6% commission rate. Four were sold at a lower 5% commission, and those houses sold for nearly 2% less in dollars per square foot. We have seen consistently in our analysis that full service brokers sell for more than discount brokers. In other words you save 1% on the commission but lose 2% on the sale price. We suspect this results from self-interested buyers’ agents steering their clients away from homes with lower commissions.
Houses selling a little quicker this year, with the average sale coming after 67 days, down slightly from 70 or more days in recent periods.
The highest listing in Boca Falls right now is at $1 million.
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