Delray Beach FL Real Estate Market Report - Feb 2018

Real Estate Agent with Best Connections Realty, Inc. 3087750


Delray Beach FL Real Estate Market Report - February 2018


Real estate market data for Delray Beach, FL provided by Elyse Berman of Best Connections Realty, Inc.


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We saw a mixed bay of things in Delray Beach, Florida this month.  Closed sales of single family homes showed a significant increase along with price per square foot .   Closed sales of condos, villas and townhouses remained pretty much the same as last month as well as  price per square foot.


Single family homes closed for  .94% of list price while condos villas and townhouses got .95% of list price.  


You can still get good deal on homes in Delray Beach, but  having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long. Many of our listings are selling within a few days of hitting the market.


As you can see from the graph below, listings are selling pretty close to asking price. Some are now selling for less, yet with low inventory, the market remains tough.  To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Delray Beach home on which you are making an offer.


If you are interested in how much current inventory is on the market in Delray Beach, you can find that information by clicking on the link.


Low inventory or "thinventory" suggests that homes that are priced right are not sitting on the market for very long, That is the market we are in at this time. Low inventory in Delray Beach has offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then,  but low inventory is one indicator that prices should continue to rise. 


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Delray Beach FL Real Estate Report Summary


In February 2018, the average list price for single family homes in Delray Beach FL was $ 882,128.  This shows a significant increase over last month. The list price per square foot for single family homes in Delray Beach was $299,, also showing an increase over the prior month.  


In February 2018, the average sold price for single family homes in Delray Beach FL was $ 801,707.  This,shows a significant increase over last month.  Average days on market was 102.  The price per square foot for closed single family homes in Delray Beach was $ 279, also up from last month.  Houses closed for .94% of listing price in February.


In February 2018, the average list price for condos, villas and townhomes in Delray Beach, FL was $ 211,866  This indicates listing prices remained pretty much the same as last month.  The list price per square foot for condos, villas and townhomes in Delray Beach was $ 153, also pretty much the same as last month.  


In February 2018, the average sold price for condos, villas and townhouses in Delray Beach was  $ 200,984 with an average sold price per square foot of $ 146.  Average days on market was 87. Prices remained pretty close to the same as last month  Interesting to note:  condos sold for .95% of asking price in February, same as the prior month.  


 Find Homes for Sale in Delray Beach FL


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Visit my website to search homes for sale in Delray Beach Florida or to be notified when Delray Beach homes for sale come on the market. 


To find out what your home is worth in the current market  click on the box to the right or email me, call/text 561-716-7824


 All information deemed accurate but not guaranteed or warranted.


Delray Beach FL Real Estate Market Report - Feb 2018


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Elyse BermanFor information about pet-friendly housing in Boca Raton, Delray Beach, Highland Beach, Boynton Beach or Boca Raton real estate market, please contact me. I am a Boca Raton Real Estate Agent.

Contact Elyse:
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By Text - 561-716-7824
Cell - 561-716-7824

Elyse Berman, PA, CRS, ABR, GRI, e-PRO of Best Connections Realty, Inc. serving Boca Raton FL and the surrounding cities of Highland Beach, Delray Beach, Boynton Beach, Lake Worth, Wellington, Deerfield Beach, Hillsboro Beach, Lighthouse Point, Fort Lauderdale, Hollywood Beach and Hallandale Beach.





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Disclaimer:  The information contained in this blog should not be solely relied upon and should be independently verified by professional sources.  The opinions expressed herein are solely mine. 

All information is deemed accurate but not guaranteed. All statistical information was obtained from BMLS.   Many articles may be time and date sensitive.  Please be sure to look at the date it was posted. 

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Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

We are seeing similar results in our market, low inventory has buyers snapping homes up, if they don't they linger. In Delray Beach people should call Elyse Berman, PA for help selling or buying so they get it right.

Mar 20, 2018 11:38 AM #1
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Elyse - I think that on top of a sellers market people are also trying to beat interest rate hikes.

Mar 20, 2018 01:41 PM #2
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Elyse - another detailed analysis expertly reported. Very well- done.

Mar 24, 2018 07:05 PM #3
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Elyse Berman, PA

Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR
Ask me about Pet-Friendly Homes for sale in Boca Raton Now!
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