In select few parts of the country, real estate markets are exploding well beyond what many analysts could have predicted.One of these parts of the country happens to be Boca Raton, as evidenced by real estate market trends showing an increase in median home values from around $200,000 in May of 2012 to $324,000 where it sits now, according to Trulia. That’s a 62% increase over just five years! Other market data aggregators including Realtor.com show home prices rising even further. Any investor or market speculator would have loved to get in on the ground floor in 2012, and the upward trajectory continues. This growth is happening despite uncertain political and governmental conditions, giving real estate investors and primary home buyers alike the confidence they need to acquire new homes. It truly is an exciting time to be representing sellers in particular.
Did you know that four out of five of the highest appreciating areas of Boca Raton since 2000 are located along the eastern shoreline? This area in particular represents unheard of growth in home values that is starting to be seen in other parts of the city. Will this growth continue for the Boca Raton real estate market? Will there be yet more unprecedented increases in both home values and rental occupancy? While no one has a crystal ball, what can be said is that the current rise in home values is likely to spur growth elsewhere in the local economy. In other parts of the country where this has happened, a residual effect of community development almost always accompanies spikes in home values. This includes new construction of commercial buildings, infrastructure (roads, bridges, etc.) and the creation of jobs. This kind of momentum doesn’t slow easily, and so the future does indeed look bright for prospective homeowners.
Boca Raton has always been a place where prosperity thrives, but now the value is real and tangible, and it’s in the form of residential real estate. What this means for those considering selling is this: the time could not possibly be better to sell a home. If you have been on the fence about selling because you’ve been waiting for the ideal market conditions, then congratulations – you’ve officially waited long enough. The current Boca Raton real estate market conditions are perfectly ripe for selling, and our brokerage team is ready to work hard for you to ensure that you are able to fully leverage your real estate asset to result in the highest possible sale price. Contact us today to get started!