Today a potential buyer was inquiring about the Delray Beach and Highland Beach Oceanfront Condo market. After creating a summary of the market conditions I emailed it to her. After I though about it for a while, I decided to share it with others interested in knowing what the past 6 months looks like for the Delray Beach & Highland Condo market place between the Intracoastal Waterway and the Atlantic Ocean.
Here is my summary:
Condominium properties on the market: 477 (as of 3/22/2008)
Prices range between: $215,000 to $5,780,000
Average list price is: $787,844
More specific to the $500,000 to $1,000,000 market that she inquired about:
Between $500,000 and $1,000 there are: 155 Condo units on the market
Prices range from $509,000 to $999,500
Average time on the market for properties in this price range is: 184 days
Since the first of the year (1/1/2008) there have been 7 properties sold in this price range
In the last 6 months (10/1/2008) there have been 20 units sold in this price range.
The average listing price for these 20 units was $641,325
The average purchase price to these 20 units was $576,532
The average discount between listing and purchase price on these 20 units was: ~ 11%
The properties that have been sold in the last 6 months have been in the following buildings:
<click on the property names to see the current listings>
Condo Name | List Price | Sold Price | Living Sq Ft | Year Built |
Banyan House | 630,000 | 540,000 | 1500 | 1967 |
Bar Harbour | 990,000 | 850,000 | 2363 | 1967 |
Bellamar House | 599,000 | 550,000 | 1519 | 1979 |
Braemar Isle | 550,000 | 529,730 | 2050 | 1981 |
Coronado | 599,000 | 500,000 | 1500 | 1983 |
Court of Delray | 599,000 | 565,000 | 1600 | 1971 |
Dalton Place | 669,000 | 600,000 | 2100 | 1979 |
Delray Beach Club | 649,000 | 600,000 | 2138 | 1973 |
Highland Beach Club | 625,000 | 610,000 | 1400 | 1997 |
Ocean Pines | 749,000 | 620,000 | 1400 | 1975 |
Ocean Terrace | 639,000 | 570,000 | 2030 | 1981 |
Ocean Terrace | 635,000 | 505,000 | 2030 | 1981 |
Penthouse Towers | 599,000 | 520,000 | 1334 | 1970 |
Toscana | 699,000 | 645,000 | 2231 | 2000 |
Toscana North | 619,000 | 550,000 | 2231 | 2001 |
Toscana West | 625,000 | 625,000 | 2642 | 2002 |
Toscana West | 540,900 | 540,900 | 2275 | 2001 |
Toscana West | 579,000 | 560,000 | 2292 | 2001 |
Wiltshire House | 649,000 | 550,000 | 2334 | 1974 |
Windemere House | 579,000 | 500,000 | 1400 | 1974 |
** Data is from the Florida Regional MLS as of 3/22/2008.
I welcome your feedback.
David Abernathy
Waterfront Properties & Club Communities
561.628.0128
www.ocean30.us
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