Curious, Other/Just Looking in Boca Raton, FL

Can you tell me % drop in townhome values Oct 2001 to May 2009?

Asked by Curious, Boca Raton, FL Fri May 11, 2012

drop in market value Oct 2005 to 2008 in Boca Raton, FL for townhomes
drop in market value Oct 2005 to 2009 in Boca Raton, FL for townhomes

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4
Tom Priester’s answer
Dear Curious,

The most often used comparison of prices during different time periods is to look at the median sales price for the preceding 6 month period of the times that you want to compare. This is certainly not the entire story as there are town homes in Boca Raton of all different sizes, shapes, locations, condition and price points. But for an overall look at the price changes for the periods you are inquiring about they look like this;

October 2001 Median Sales Price of Boca Raton Town Homes was $132,500
May 2009 Median Sales Price of Boca Raton Town Homes was $170,000

Median prices increased during this time period by 28.3%

October 2005 Median Sales Price of Boca Raton Town Homes was $289,900
October 2008 Median Sales Price of Boca Raton Town Homes was $210,000

Median prices decreased during this time period by 27.6%

October 2005 Median Sales Price of Boca Raton Town Homes was $289,900
October 2009 Median Sales Price of Boca Raton Town Homes was $162,000

Median prices decreased during this time period by 44.1%

Again, the market metrics change constantly and you will see that during the past few years the market has been driven by investors snapping up the lower priced properties like hotcakes so the numbers are skewed lower and not reflective of prices in any single community. A complete understanding of these numbers is what differentiates many Realtors and their ability to determine market value and negotiate the most favorable pricing for their clients.

I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes Thank Flag Link Sat May 12, 2012
Hi Curious,

That's a loaded question. The % drop would vary by community more than by Boca Raton in general. Different communities will have different values.

If there's a specific community you are interested in please contact me directly.

Nadine Mauro
Highlight Realty
561-414-0864
NadineSellsHouses@gmail.com
http://www.floridahouseseller.com
0 votes Thank Flag Link Fri May 11, 2012
Hey Curious,
That is a great question that I would like to know also.
I have completed such studies on the West Coast in Palm Harbor and Dunedin Fl. Take a look at the graphic via the following link,

http://www.trulia.com/blog/AnnetteLawrence/2012/05/dunedin_f…

It would be great to know how Dunedin Fl town homes fared when compared with Boca Raton statistics.

Annette Lawrence
Broker/Associate
ReMax Realtec Group
Palm Harbor, FL
0 votes Thank Flag Link Fri May 11, 2012
Hi,
I don't have a detailed price analysis from 2005 to 2012, but you can find usefull information on the real estate market which compares 2011 with 2012, in my monthly newsletter link at http://www.ask4realtor.blogspot.com.

Best regards,

Nitza Ramos
East Coast Realty
http://Www.nrcv.com
Blog: http://www.ask4realtor.blogspot.com
0 votes Thank Flag Link Fri May 11, 2012
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