Michael Friedman, eXp Realty - Mission Bay West Boca Raton Market Report November 29, 2020

 

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Market Report for Mission Bay, Boca Raton, FL Updated 11/29/2020
Here's a local update for Mission Bay, Boca Raton, FL. If you have any questions or would like to discuss the market, please feel free to reach out at any time.
HOMES FOR SALE   in last 30 days 2    6.1% 30 day change New to Market 1 homes  244.4% Days on Market 42 days  24.2%
AVERAGE HOME PRICE   in last 30 days $569,500    11%	30 day change price reductions 0 reductions -- 0% price per square foot $215  3.4%
AVG SOLD PRICE   in last 30 days $482,500	in last 30 days sold last 30 days 1 Sold to Listed Ratio 100%
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Homes for Sale in Mission Bay, Boca Raton, FL
RECENTLY LISTED $600,000 20544 Sausalito Drive Boca Raton , FL 33498 VIEW MORE RECENTLY SOLD in last 30 days SOLD $482,500 10727 Santa Laguna Drive Boca Raton, FL 33428
MOST EXPENSIVE $600,000 20544 Sausalito Drive , Boca Raton , FL 33498 POPULAR LISTINGS $600,000 20544 Sausalito Drive Boca Raton , FL 33498
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Listing types included in this report: Single Family Condos, Townhouses
eXp Realty in Palm Beach Florida and Greater Fort Lauderdale eXp Florida Corporate Office: 5039 Ocean Blvd Siesta Key, FL 34242 Stay Connected
Michael Friedman Broker-Associate, Realtor, CDPE eXp Realty Cell: 561-247-3550 fsbocahome@gmail.com An Analytical Approach To Buying And Selling Real Estate

US Housing Market Prices Still Below Peak Prices, According To Case Shiller Housing Index

Despite the continued price appreciation in the US housing market, the Case Shiller Housing Index indicates the average home price in the US as measured by the Composite-10 and Composite-20 are approximately 16% to 17% below the peak in June/July 2006.

The Case Shiller Home Price Index determined the trough to be in March 2012 with a recovery in the Composite-10 and Composite-20 of 28.2% and 29.0%, respectively, from the aforementioned low point.

I take an analytical approach to buying, selling and leasing real estate.  If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman

Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Home Price Index: November 2014: South Florida One Of The Leading Areas For Home Price Appreciation In US

The Case Shiller Composite-10 and Composite-20 showed a sequential decrease of -0.3% and -0.2%, respectively in November 2014; the Composites were up 4.2% and 4.3% on a year-over-year basis in November, respectively.

South Florida and San Francisco lead all US cities in year-over-year home price gain in November 2014, according to the Case Shiller Home Price Index.  

This compares with South Florida which showed a 0.6% sequential increase in November 2014, according to Case Shiller and a year-over-year increase of 8.6%.

David Blitzer, Managing Director and Chairman of the Index Committee stated, "with the spring home buying season and spring training, still a month or two away, the housing recovery is barely on first base.  Prospects for a home run in 2015 aren't good.  Strong price gains are limited to California, Florida, the Pacific Northwest, Denver and Dallas.  Most of the rest of the country is lagging the national index gains."


Other areas of interest:

Nov-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	175.45	-0.20%	4.00%
Chicago	128.37	-1.10%	2.00%
Miami	191.13	0.60%	8.60%
Minneapolis	141.12	-0.70%	1.50%
New York	175.33	-0.80%	1.50%
Tampa	165.18	0.80%	6.80%
Composite 10	187.71	-0.30%	4.20%
Composite 20	172.94	-0.20%	4.30%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Housing Index: November 2012: US Housing Prices Rise About 5% YOY: Homes For Sale: Homes For Rent

As we have discussed, the US housing market continues to show positive momentum.  The Case Shiller Housing index showed a year-over-year increase of 4.5% for the Composite 10 and 5.5% for the Composite 20 during November 2012.

Large institutional investors seems to be reducing supply by taking out large chunks of homes in the distressed market.  All the while, banks seem to be trickling out its in-house foreclosures.  Traditional buyers continue to be out there in the market as low rates help to make buying a home affordable for many.  I believe these are some of the main reasons for the reduction in inventory levels and rise in prices. 

The South Florida market remains strong.  Sequentially home prices rose 0.8% and increased year-over-year by 9.9% during November 2012. 

To quote the Case Shiller report: "The Southwest – Las Vegas and Phoenix – are staging a strong comeback with the Southeast -- Miami and Tampa close behind."  The report went on to say, "housing is clearly recovering. Prices are rising as are both new and existing home sales. Existing home sales in November were 5.0 million, highest since November 2009. New Home sales at 398,000 were the highest since June 2010."

Some areas of interest:

November	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	153.74	-0.90%	2.30%
Chicago	113.35	-1.30%	0.80%
Miami	151.13	0.80%	9.90%
Minneapolis	126.41	1.00%	11.10%
New York	162.86	-1.10%	-1.20%
Tampa	133.77	-0.20%	-0.50%
Composite 10	158.28	-0.20%	4.50%
Composite 20	145.82	-0.10%	5.50%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.


For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

More Housing Contracts Signed in November 2011; Sign Of A Turnaround?; Homes For Sale: Homes For Rent

The number of signed contracts for homes rose to the highest level in a year-and-a-half in November 2011. There is usually a couple of months lag between a signed contract and a completed deal.

However, things are still not back to the levels seen just a few years ago. Sales of previously occupied homes are around the level of 2008, which were the worst yearly showing since 1997.

The number of contracts used to be a good gauge of future home sales; this is no longer the case. Many buyers are canceling their contracts before consummation, making it a less reliable predictor of sales.

Buyers are still hesitant due to high unemployment, weak job prospects, larger down payments required, more difficult to obtain a loan and fear prices will keep falling.

As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Homes For Sale: Case-Shiller Index: November 2010; US Real Estate Market Continues Weakness as Does Florida

According to the Case-Shiller Index, for the most-part, US housing prices are not appreciating. Home prices in the Florida markets reported on continue to slide. We think general economic conditions are largely to blame-- such as increased levels of unemployment and lack of income growth prospects.

Looking at the United States as a whole, the Case-Shiller Index report states: “Looking at the monthly statistics, 19 of 20 MSAs and both Composites were down in November over October. Fourteen MSAs and both composites have posted at least four consecutive months of decline with November’s report." Therefore, on a sequential basis, the market as a whole remains soft and in decline.

When focusing on the Florida market, two of the nine overall markets hitting their lowest levels since home prices peaked were in Florida: Miami and Tampa. The others were: Atlanta, Charlotte, Chicago, Detroit, Las Vegas,Portland (OR), and Seattle and Tampa. These markets hit their lowest levels since home prices peaked in 2006 and 2007, meaning that average home prices in those markets have fallen even further than the lows set in the spring of 2009. Again, we see the state of Florida continuing to show a weak real estate market.

Looking at markets of interest:

November 2010 November/October October/September
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)

Boston 152.76 -1.0% -1.2% -0.8%

Miami 143.81 -0.2% -1.1% -3.5%

New York 169.75 -1.0% -1.6% -1.7%

Tampa 134.05 -0.8% -1.0% -4.0%

Composite-10 157.68 -0.8% -1.3% -0.4%

Composite-20 143.85 -1.0% -1.3% -1.6%

With the economy not showing signs of job growth, continued uncertainty and tight credit markets, we suspect a tough slog for the US housing market as a whole.

When focusing on the South Florida market, the trends seem to be worse when compared with the nation as a whole. This is exacerbated by the higher level of distressed properties in the market as well as an economy largely based on construction and discretionary income spending.

As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100

http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Homes for sale: US Home Prices Fall Again During November 2010

The US housing market continues to struggle to find a bottom. Home prices in the United States fell 5.1% in November 2010 when compared with a year earlier, according to real estate analytics firm CoreLogic.

The decline in US home prices in November was steeper than the year-over-year decrease of 3.4% in October. Forty-four of the states experienced an annual decline in November.

Mark Zandi, an economist with Moody's Analytics said the US housing market is "double dipping." He predicts prices will continue to fall from the peak levels in 2006; he seems to indicate an expectation of the bottom hitting in late 2011 and price declines of 35% off the peak in 2006.

According to CoreLogic, the six states that experience a year-over-year increase in housing prices were: Indiana, Vermont, New York, Wyoming, North Dakota and Maine. However, in general, these states did not see as sharp of a rise in prices during the "boom" period.

The consensus of many leading economists that focus on the real estate market seem to think the bottom of the market will not hit until the end of 2011.

As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100

http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty