This article is a market report for Canyon Lakes in Boynton Beach, Florida brought to you by Mark Baker. In this article we will cover the current market and type of listings, current market prices within the community and then the metrics for the 90 day sold properties including the property types and financing terms. This article will give you a good understanding of the housing market in Canyon Lakes in Boynton Beach especially if you are looking to buy in the next few months.
First we will take a look at the current homes for sale on the market. There are twenty-eight properties currently on the market where four of the properties are under contract marked contingent and four properties are under contract market pending. Now what is the difference between contingent and pending? The difference is this, when a property is contingent it means there are still contingencies left in the contract to be fulfilled; common types of contingencies are inspections and appraisals. Once those contingencies have been fulfilled the property should be changed to pending.
So that leaves twenty properties that are currently available to be purchased. Sixteen of the properties are traditional sales, two properties are short sales and two are REO or corporate owned properties. In regards to the range of prices the lowest available property is $335,000 for four bedrooms with two bathrooms and 2,455 square feet under air. The highest property is $649,900 for a six bedroom, four baths with almost 5,360 square feet under air. The median home price is almost $453,425 in Canyon Lakes in Boynton Beach, Florida.
Next we will look at the sold properties, in the last three months ten properties have sold. The average sales price was $453,425 and the average sales price per square foot was $133 with the range in process from $103 to $180. This is quite a wide range in prices where the higher end of the price range will be the traditional sales, and on the lower end will be the short sales and the bank foreclosures.
Foreclosures and short sales are typically less because of the deferred maintenance that has been factored into the sale price. Traditional sales typically include the upkeep and obviously they can come in their premium on the market. So depending on where you fall in that price range will also help you understand the property you are going after.
The average days on market for the homes was 133 days, the bank foreclosures tended to be less than the average and traditional sales normally took longer for the right buyer to come along. In regards to the types of sales, there were four traditional sales, one short sale and five REOs. Two were financed with FHA/VA, two were conventional financing and four were cash transactions.
If you are looking to buy or sell a home in Canyon Lakes let me put my experience to work for you. I have extensive knowledge of the homes within Canyon Lakes and the surrounding areas, in addition to being an experienced agent in the local area I also partner up with other agents that bring that experience and expertise to the table. Thanks for reading this market report for Canyon Lakes in Boynton Beach, Florida. You can contact me at 561-768-7968 or visit me online.
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