Boynton Beach Housing Market Report December 2023

Boynton Beach Housing Market Report dec 2023

Boynton Beach Housing Market in December 2023 Insights

In the ever-evolving landscape of real estate, understanding the nuances of local housing markets is key for informed decisions. In this comprehensive report, we delve into the intricacies of the Boynton Beach Housing Market for December 2023. Whether you’re a prospective buyer, seller, or simply an enthusiast of real estate trends, join us as we dissect the market conditions, pricing trends, housing supply, and more. From the pulse of the market to the implications for both buyers and sellers, this analysis aims to be your guide to navigating the dynamic real estate landscape of Boynton Beach. Let’s unlock the insights that define the housing market in this vibrant Florida city.


Exploring the Boynton Beach Housing Market: December 2023 Report

Welcome to the Boynton Beach Housing Market Report for December 2023. In this comprehensive analysis, we delve into crucial aspects of the market to provide valuable insights for both buyers and sellers.

Market Overview: Is Boynton Beach, FL a buyer’s or seller’s market? According to the latest statistics, Boynton Beach has maintained a Neutral Market status since December 2022. This suggests a balance between supply and demand, resulting in reasonable prices and homes spending a typical amount of time on the market.

Housing Prices: The median sold price for homes in Boynton Beach, FL, stands at $400,059, with a price per square foot of $250. This reflects a noteworthy increase of 19.4% from the previous year, emphasizing the robust growth in the housing market.

Price Variation by Bedrooms: Breaking down the median sold price by bedroom count reveals interesting trends:

  • 1 Bedroom: $169.5K (+21.1%)
  • 2 Bedrooms: $300.4K (+8.1%)
  • 3 Bedrooms: $450.1K (+3.3%)
  • 4 Bedrooms: $697.3K (+18.3%)
  • 5+ Bedrooms: $890K (-3.3%)

Comparison with Nearby Cities: When compared to nearby cities, Boynton Beach has experienced a positive trend, with a 19.4% increase in median sold prices. Notable neighboring cities include Ocean Ridge (+38.8%) and Hypoluxo (-15.9%).

Housing Supply: The Boynton Beach real estate market witnessed a 4.6% increase in the number of homes for sale, reaching a total of 1,375 in December 2023. The inventory breakdown by bedroom count indicates varied changes, with a notable increase in 1 bedroom homes (+18.6%).

Homes Sold and Pricing: In December 2023, 208 homes were sold or pending, marking a 2.0% increase from the previous month. Of these, 75.5% were sold below asking price, presenting potential opportunities for buyers.

Days on Market: The average sale time for homes in Boynton Beach was 39 days in December 2023, reflecting a 9.3% increase from the previous year. A significant portion of homes (55%) sold within 30 days, emphasizing the demand for swift action in the current market.

The Boynton Beach Housing Market continues to demonstrate resilience and growth, making it an intriguing landscape for both buyers and sellers. Whether you are considering a purchase or sale, these insights provide a comprehensive understanding of the current market dynamics in Boynton Beach. Stay tuned for future updates and market trends as we navigate the ever-evolving real estate landscape.

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