According to the June 2025 Luxury Market Report for Boca Raton and Delray Beach (based on May 2025 activity), there was a significant disparity between the number of luxury benchmark ($1.2 million or higher) homes offered for sale (627) and the number of actual sales in this high-end price range (115).  Fewer than one in five high-end listed homes were sold during May 2025.

The price per square foot averaged $624 for homes in this price range (down from $646 in May 2024), while the sale-to-list-price ratio remained virtually unchanged at 94%, year over year.

Interestingly, the homes that did sell were scooped up much more quickly this May (in 44 days) than last, when they lingered on the market for an average of more than two months (71 days).

The highest priced home sold in Boca during May 2025 was 1788 Royal Palm Way, (aka "Casa Feliz"), a palatial intracoastal waterfront estate in the Royal Palm Yacht and Country Club.  It brought  $31.5 million without having ever been exposed to a broad public audience through the MLS.

The next highest priced home, 499 S. Maya Palm Drive (also in the Royal Palm Yacht and Country Club enclave) sold for less than half of the sale topper's sum, at $14.995 million.  It attracted a full-price offer after only 19 days on the market.

For attached homes (condos priced at $500,000 and up), the trends were similar, with only 17% (116) of the listed properties going to the closing table.  However, the average sale price of these properties jumped by 33%, to $1.04 million, while the average price per square foot soared from $475 in May 2024 to $571 this May.

The two highest priced condos in Boca were in two of the gorgeous Alina Residences buildings downtown.  At $7.2 million, Unit 824 at 220 SE Mizner Blvd., a brand new 3-bedroom unit, was the easy winner.  Second place honors went to Unit 302 at the adjoining 210 SE Mizner Blvd., a new 4-bedroom residence that brought $6.17 million after 45 days on the market.

You can listen to an indepth and lively discussion of the key metrics from this month's Luxury Market report here. For a deep dive into the national perspective on Luxury Real Estate Market trends during the first half of 2025, listen to this podcast highlighting the salient points from Coldwell Banker Realty's 2025 Mid-Year Report.