Boca Winds Real Estate Report – Early 2016

Prices continue to rise in Boca Winds. The average transaction price in the first half of 2016 was just over $366,000, up 8 percent from the same period a year earlier, and more than 5 percent higher than the second half of 2015.

The improvement is not just in dollar figures but shows up in other ways. For example, prices rose in “dollars per square foot” to $169/sq.ft. vs. $161 in the two earlier periods. Transactions are also closing a little quicker with an average of 50 days.

The total volume of sales was also up, with 44 transactions in the most recent 6 months vs. 35 in the first half of 2015. While there were several REO transactions (sold by investors owned after foreclosure), their prices were mostly in line with the other houses so they did not pull down the numbers.
On the lower end, 12 houses sold for less than $300K, generally with 3 bedrooms and under 2000 square feet. The bottom was an REO selling for $198K, $47K less than the next lowest at $245K.

Sale prices averaged 94-95% of the original list price consistently over the past 18 months. A few houses sold for more than the original list, while one sold for only 75%.
And again we see full price brokers selling houses for significantly more than discount brokers. Discount brokers save their sellers about 1% on the commission, but lose them 2.5% on the price.