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).

In Delray Beach, the single family sale topper in May was 10540 El Paraiso Place, a 6-bedroom, 5.6-acre waterfront estate in the gated community of Palm Beach Farms, that brought $6.5 million after 208 days on the market.

Close behind, at $6.15 million, was 924 S. Ocean Blvd., a 5-bedroom home with an attached guest house, located between the intracoastal and the beach.

As for condos in Delray, one home stood above the rest.  Unit 5 at 800 Andrews Ave. brought $1,675,825 (on an original price of $2.25 million) after 260 days on the market.  The 3-bedroom townhome, just a block and a half from the beach, has a 38' dock and water views.  It had previously sold in 2023 for $1.5 million.

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.