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There are 28 active listings currently, 17 in Boca and 11 in Bella. There were nine new listings during November, they are 99315 (1,698sf) at $380,000 ($224psf), 9736 (1,485sf) at $395,500 ($266psf), 9534 (1,485sf) at $250,000 ($168psf), 8942 (2,338sf) at $725,000 ($310psf), 8732 (2,338sf) at $619,000 ($265psf), 8845 (2,538sf) at $699,000 ($275psf), 9944 (1,485sf) at $242,000 ($163psf), 9144 (2,338sf) at $699,000 ($298psf) and 9544 (1,485sf) at $329,000 ($222psf). The reason for this increase is seasonal. As often happens, out of state owners decide that, for whatever reason, this is going to be their last visit: so they list at the beginning of the winter season when more visitors are likely to be present. One listing went pending, 9047 (1,803sf) was listed at $360,000 ($200psf) and is slated to close on 20th February, 2025; it is the first listing to be pending since July.
There have been twenty seven price reductions, yet there are still too many listings priced too highly. The high/low of the 28 actives is $336/$163psf; the average is $246psf with a mean of $239psf and as you can see from the Review, Boca’s now historic sales averaged $225psf and Bella’s $254psf; most of those occurred when the market was considerably stronger.
There is no doubt that condominiums are out of favour, but there will be a turn at some stage; some of today’s prices are a buyer’s opportunity.
