Pet Friendly Homes in Boca Raton: Is the Market Starting to Turn

Is the Market Starting to Turn

Is the Market Starting to Turn to a Buyers' Market

 

is it a buyers market in boca raton floridaIn the past two months, but especially the past month, I have seen indications of my market turning more into a buyer's market.  Not everyone may agree; this is my observation of Boca Raton Florida and the surrounding areas. 

 

 

There is definitely more inventory,  I recently listed a house in a neighborhood where there were 10 homes for sale at the time.  We wouldn't have seen that 6 months ago.  Houses were on fire over the summer, so to speak.  List them and multiple offers were coming in.  Now, there were 10. 

 

 

In the past 30 days, 5 more houses came on the market.  There were price drops in some.  Several went under contract.  I had one buyer's agent say to me, Can the seller decide fast because we have another house to look at and make an offer on?  

 

Secondly, the number of price reductions on our hot sheet has increased daily across the board.  We are in an area of communities, and it can vary by community, but I have seen price drops from the beach to houses out west and in between.  I haven't seen this many price drops in years.  That and more new listings coming on the market daily.

 

buyers agent in south florida pet friendly condos and housesPrices are dropping.  I have seen several drops in one community in one day or by one agent on their listings.  

 

We are in "season" in south Florida.  People tend to raise their prices in season as snowbirds fly south, especially at the beach.  I don't see that happening this season.  I am seeing prices dropping.

 

 

 

I've been in south Florida for 24 years and in real estate 15 years.   This has the look and feel of a downturn to me, a downturn into a buyers' market.   Of course, there are sellers who are holding steadfast hoping to get what their neighbor got last summer, but the ones who want to or need to sell are pricing their homes right or lowering the price.  Even builders are lowering prices on their spec homes in our MLS.

 

 

I believe the market is turning into a buyer's market in Boca Raton and its surrounding areas.  That is my market. Others may not agree.  This is my observation and opinion. 

 

This is great news for buyers who should get themselves a great buyer's agent, for new construction as well as for resales, and go looking.  Now there are, once again, houses to look at.

 

What do you see in your market?

 

RELATED POSTS

 

 

 Map of Boca Raton FL

Elyse BermanFor information about pet-friendly housing in Boca Raton, Delray Beach, Highland Beach, Boynton Beach or Boca Raton real estate market, please contact me. I am a Boca Raton Real Estate Agent.

Contact Elyse:
By Email: Elyse@ElyseBerman.com
By Text - 561-716-7824
Cell - 561-716-7824

Elyse Berman, PA, CRS, ABR, GRI, e-PRO of Best Connections Realty, Inc. serving Boca Raton FL and the surrounding cities of Highland Beach, Delray Beach, Boynton Beach, Lake Worth, Wellington, Deerfield Beach, Hillsboro Beach, Lighthouse Point, Fort Lauderdale, Hollywood Beach and Hallandale Beach.

 

REVIEWS FOR ELYSE BERMAN | SEARCH ALL ACTIVE LISTINGS

 

 

 facebook google plus  youtube linkedin

 

Protected by Copyscape DMCA Copyright Protection

 

Disclaimer:  The information contained in this blog should not be solely relied upon and should be independently verified by professional sources.  The opinions expressed herein are solely mine. 

All information is deemed accurate but not guaranteed. All statistical information was obtained from BMLS.   Many articles may be time and date sensitive.  Please be sure to look at the date it was posted. 

No reproduction is permitted without the author's express permission.

Comment balloon 10 commentsElyse Berman • November 28 2018 10:23AM

Comments

Morning Elyse.

Yes ma'am, it is turning but man is it slow getting there. Great news for buyers, not so for sellers.   

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) about 2 months ago

Good morning Elyse.  I'm seeing some indications but not across all segments of the market yet.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 2 months ago

Good morning Elyse. You are the guru of your market. I think there are some segments up here in Chicago experiencing market corrections indicating increasing buyer advantage. Enjoy your day! 

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) about 2 months ago

Elyse, you know your market and I hope buyers and sellers in the Boca area read your post. There are some areas that have softened here but, not to the point that it's a buyers market. I'm always intrigued to read about varying market conditions, real estate is so local. 

Posted by Amanda S. Davidson, Alexandria Virginia Homes For Sale (Amanda Davidson Real Estate Group) about 2 months ago

Good morning Elyse Berman,

You are the expert in your area as you are in your trenches every day! I always see in Austin November and December as a slow down as the holidays come into play and most buyers are closing up properties they made offers in October. We don't have the inventory but buyers are taking longer to make decisions. You have lots of new listings coming on over the holidays..is that unusual? Are they selling for any particular reason? Thanks for your perceptions.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) about 2 months ago

Good morning,  Else - this perspective is based on your knowledge of the local Boca  Raton market area and this expert opinion has many fact - based observations that are important to buyers/sellers. Good report. 

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 about 2 months ago

When the prices begin to drop, that certainly benefits the buyers more than the sellers, so you are likely right.

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) about 2 months ago

Good news for buyers as they will have some time to choose a home and maybe won't have to compete for it.

Posted by Francine Viola, In Tune with your Real Estate Needs - Olympia WA (Coldwell Banker Evergreen Olympic Realty, Olympia WA) about 2 months ago

Hi Elyse- you definitely are the expert in the market here and yes, with us In Season, you would think the opposite would happen. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) about 2 months ago

Maryland retirees will be happy to see a buyers' market in your area.

Posted by Roy Kelley (Realty Group Referrals) about 2 months ago

This blog does not allow anonymous comments