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Elliman Report: Boca Raton 1Q 2017

Boca Raton remained one of the better performing markets in South Florida. Both condo and single family sales surged and median sales price increased respectively from the year ago quarter. There were 711 condo sales, up 17.1% while inventory rose 5.1% to 1,490 respectively from the year ago quarter. As a result the condo absorption rate, the number of months to sell all inventory at the current rate of sales, was 10% faster at 6.3 months over the same period. Single-family sales showed a similar pattern, rising 14.1% to 584 and listing inventory slipped 0.7% to 1,426 respectively over the same period…

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