The inventories for luxury oceanfront condos in Boca Raton for saleare drying out. For example, such lavish condos as Luxuria Boca Raton & Presidential Place have only 2 condos left each. One Thousand ocean, the newest oceanfront development in Boca Raton, has only a few remaining units from the developer. Last year, the selling team launched an ad program on the TV Show “Selling NY”, which brought a lot of attention from New Yorkers.
Most of the luxury ocean front condos offer membership to the Boca Raton Resort Club with the purchase, which has all the ultra-luxurious amenities anybody needs and more.
The prices for luxury real estate in Boca Raton went up about 12-15% for the last year and year and a half, but is still about 20% below the 2007 market prices, which was at the peak. Our analysts believe that the real estate in Boca Raton still has some room for appreciation. Last 5 years supply for oceanfront condos in Boca Raton shrank to single digits, no new construction took place and developers such condos as Luxuria, 200 East or One Thousand Ocean are sitting on last units and not in rush to drop prices.
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