June 2022 Boca Raton Area Luxury Market Report from Jean-Luc Andriot and The Institute for Luxury Home Marketing

As I am a member of The Institute for Luxury Marketing, I thought I would share with you their June 2022 report for Boca Raton - Delray Beach.

It is your guide to a general analysis on the trends and comparative data on the top-residential markets in the Boca Raton - Delray Beach area.

Statistics are separated between single family homes and condominiums / townhomes in Boca Raton - Delray Beach.

At the national level:

Luxury Property Inventory Levels Increase – What is the Significance?
May saw a comparatively significant upward shift in the number of homes listed for sale, especially compared to the same period in 2021. This was not unexpected, as there has been a gradual increase of new listings and a slower escalation of price increases over the last few months.
According to our analysis of North America’s top 140 luxury markets, the new listings entering the market in May 2022 increased by 61.3%, resulting in the single-family home inventory level rising by 27.5% compared to May 2021.
In the attached property market, the numbers were less dramatic but still significant, with 37.3% of new listings entering the market, increasing the inventory level by 1.5% in May 2022 compared to 2021.
Overall, the median price for properties in the Top 10% of the market rose approximately 16% year over year. Although this is still a substantial percentage increase, it is smaller than May 2021,
which reported a 24% increase over May 2020.

Read on