When it comes to the current Boca Raton luxury real estate market, property worth seems to hold their own, even though other parts of the area have faced some problems with the real estate market in recent times. This factor affects how appealing the city is across the board.
Popularly known as the city for all seasons in the Sunshine state (Florida), Boca Raton is a vibrant and thriving community with thriving entertainment and cultural scene. Many people crave to have a share in the luxury apartments in Boca Raton because of its incomparable art galleries, unique restaurant, golf courses and other cultural and entertainment opportunities. Indeed it is the right spot for vacation and a haven for retirement enjoyment.
The neighborhood that constitutes Boca Raton has some of the most elegant homes with grand designs to be found anywhere in the US. Three of US gated communities with expensive residences are in Boca Raton. The reason for the competitiveness of its real estate business; Some of this expensive communities are the Country Club and the Sterling Royal Palm.
Current Market Situation
Boca Raton luxury real estate market appears to be balancing out according to November market report. However, luxury prices increased by about 38 percent and with 21.8 percent in the Pest Palm Beach area. Unlike in previous months when sales increase but inventory continue to reduce. The current market statistics projects a more balanced playing ground for buyers and estate brokers. The report pointed out the need for more active inventory growth in the luxury market, as well as increased sales.
Current Price Statistic of Properties in the Market
According to Boca Expert Realty, sales of single family homes in the area showed positive figures throughout last month. With sales increase by 6.4 percent compared to statistics obtained from the previous year. The inventory also grew from 4.6 to 5.1. With this improvement, sellers will be glad to hear of an increase in the median percentage of list price received. On the buyer’s end, this development is good news as it will help to reduce the tight competition the luxury market has had over several months in the past.
Single family homes now sell for a median price of $300,000. However, this rate could be as high as $700 thousand. With this price, you enjoy the recreational options of Boca on a broad spectrum. These luxury houses are located close to highly rated golf courses on the east coast of the city. This will surely bring your recreational experience to a dream come true.
Single Story family homes located in prestigious communities like Tennyson Court, Boca Hamlet, Montoya Circle and Central Boca Raton with beautiful and large bedroom, high roofs,
heated swimming pool with spa are now priced for a price range of $1,125,000- $1,500,000.
These luxury properties are fully renovated and meticulously maintained with easy access to shopping and eclectic mix of merchandise, access to the major city roads and “A” rated Boca Raton schools.
The largeness and exquisiteness of these properties make them perfect for intimate and large gatherings.
The Eden condos are another luxurious building making a wave in the Boca Raton real estate market. Described as Seductive Luxury, these condos centers around a Palazzo pool, spa, and cabana. With an 8,000 square foot clubhouse with unique facilities, meeting room, billiards, etc. Residents have access to private parking garage, ultra-high speed internet, and climate-controlled wine storage.
These condos are priced around $3 million. Homes boast of amenities like kitchen granite counters and baths, Saturnia flooring, stainless steel appliances, imported Italian wood cabinetry and lots more.