Honestly, if you're looking at a house in Boca Raton right now and expecting the same "wild west" energy from a couple of years ago, you're in for a surprise. The Boca Raton housing market has basically taken a deep breath. It’s calmer. Maybe a little more rational, too.
Walking through neighborhoods like Royal Palm Yacht & Country Club or even the quieter pockets of West Boca, you’ll notice something different. There are more "For Sale" signs. And they're sticking around.
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In January 2026, the average home in Boca is sitting on the market for about 111 days. Compare that to the 78 days we saw this time last year. That’s a massive shift. People aren't just panic-buying anymore. They’re doing their homework. They’re checking the roof. They’re asking about insurance.
What’s Actually Happening with Prices?
Prices aren’t exactly cratering, but the rocket ship has definitely landed. The average list price for a home here is hovering around $1,945,376. That sounds like a lot—and it is—but it’s actually down about 1% from last January.
It’s a tale of two markets.
If you’re looking at single-family houses, the average list price is still quite high, nearly $3.4 million. But if you’re in the condo or townhouse game? That’s where things get interesting. The average list price for a condo in Boca Raton has dipped to about $898,410, down from over $1.1 million just a year ago.
- Inventory is way up. We’re talking a 355% increase in total inventory compared to last year.
- Negotiation is back. Most homes are selling for about 94% to 95% of their original list price.
- Cash is still king. Roughly 65% of Palm Beach County deals are still happening without a mortgage.
Sellers who still think it’s 2022 are getting a wake-up call. If you price your home based on "what the neighbor got" two years ago, your listing is probably going to gather dust. Buyers today are picky. They want turnkey. If a house needs a new kitchen or has a 15-year-old AC unit, they’re going to ask for a massive credit or just walk away.
The Interest Rate Reality Check
Let’s talk about money. Specifically, the cost of borrowing it.
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As of mid-January 2026, mortgage rates in Florida have settled around 5.9% to 6.1% for a 30-year fixed. It’s a far cry from the 3% we all miss, but it’s a lot better than the 8% peak we saw in late 2023.
Dr. Brad O’Connor, the Chief Economist for Florida Realtors, recently pointed out that even these small drops are "unlocking" demand. It makes sense. A 1% drop in rates can save a buyer hundreds of dollars a month, which is often the difference between "let's buy" and "let's wait another year."
But there’s a catch.
Even with rates softening, insurance is still the elephant in the room. While some new insurers have finally entered the Florida market recently, premiums are still high. Buyers aren't just calculating their mortgage payment; they're looking at that total monthly nut, including those hefty windstorm policies.
Luxury is Doing Its Own Thing
The ultra-luxury segment—homes over $10 million—is like a different world. It’s actually seeing a surge.
Sales in the $10M+ bracket are up 15% year-over-year. Why? Because the ultra-wealthy are still moving here from New York, California, and Illinois. They aren't worried about a 6% interest rate because they aren't financing. They want the lifestyle. They want the Mandarin Oriental residences or the new St. Regis.
Where the "Value" Is (If You Can Call It That)
If you're hunting for a deal, the $6M to $10M segment is actually the softest right now. Inventory is building there, and price cuts are becoming more common. It’s that middle-luxury tier where buyers have the most leverage.
In contrast, the $1M to $3M range remains the "engine" of the market. This is where families are competing for homes in top school zones. These houses still move relatively fast if they’re in good shape.
New Developments to Watch
Boca isn't finished growing. Not by a long shot.
If you drive down Federal Highway or near the Town Center Mall, you’ll see the cranes. There’s a big shift toward "Mixed Use" and high-density luxury.
- 7601 East Country Club Blvd: They’re looking to turn the old Hidden Valley Golf Course into 67 single-family lots.
- One Park Place: A major addition to an existing office building that’s adding more ground-floor retail and "lifestyle" space.
- Downtown Conversions: We’re seeing more proposals to turn old commercial spots into townhomes or "work-live" units.
The Remote Work Factor in 2026
Remember when everyone thought remote work would end? It didn't. Not entirely.
But it has changed. The 2026 buyer in Boca isn't just looking for a "home office." They want a sanctuary. We’re seeing a huge trend in "wellness-focused" home design. Think infrared saunas, cold plunge setups, and acoustic-treated rooms for Zoom calls.
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At the same time, some of the pandemic-era transplants are moving back to major hubs like NYC or Chicago as their companies demand 4-day-a-week office presence. This is contributing to that inventory spike we’re seeing. One person's "back to the office" order is another person's "new listing in Boca."
So, What Should You Actually Do?
If you’re thinking about jumping into the Boca Raton housing market, stop waiting for a 2008-style crash. It’s not coming. The fundamentals—low supply relative to long-term demand and high equity—are too strong for that.
However, you can be aggressive.
For Buyers: Don't be afraid to offer 10% below asking on a home that’s been sitting for 90 days. Most sellers are tired and ready to move on. Focus on the "bones" of the house. If you can find a solid property with an ugly kitchen, you have massive leverage right now. Also, get your insurance quotes before you're deep in escrow. Don't let a $12,000 premium surprise you at the finish line.
For Sellers: Be real. The "make me move" price is a thing of the past. If you want to sell in under 60 days, you need to be the best-looking house at the most competitive price in your zip code. Declutter, paint the walls a neutral white, and for heaven's sake, fix the leaky faucet before the inspection. Buyers are looking for reasons to say no.
Actionable Next Steps:
- Check the Days on Market (DOM): If a house has been listed for 120+ days, it’s likely overpriced or has a hidden issue. Use that as your starting point for negotiations.
- Look at "Off-Peak" Listings: Many people pull their homes off the market during the holidays. Early spring is when the inventory floodgates usually open, but the best deals often happen right before the rush.
- Verify Homestead Exemptions: If you're moving from out of state, remember that your property taxes will likely be higher than the current owner's because of the Save Our Homes cap. Factor that "tax jump" into your budget immediately.