Delray Beach FL Real Estate Market Report - March 2018

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Delray Beach FL Real Estate Market Report - March 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 decrease along with price per square foot .   Closed sales of condos, villas and townhouses rose slightly over last month, while price per square foot remained exactly the same.


Single family homes closed for  .95% of list price while condos villas and townhouses got .94% 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 and rising mortgage rates are indicators that prices should continue to rise. 


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Delray Beach FL Real Estate Report Summary


In March 2018, the average list price for single family homes in Delray Beach FL was $ 848,131.  This shows a decrease over last month. The list price per square foot for single family homes in Delray Beach was $260,, also showing a decrease over the prior month.  


In March 2018, the average sold price for single family homes in Delray Beach FL was $ 794,862.  This,shows a slight decrease over last month.  Average days on market was 87.  The price per square foot for closed single family homes in Delray Beach was $ 246, down from last month.  Houses closed for .95% of listing price in March.


In March 2018, the average list price for condos, villas and townhomes in Delray Beach, FL was $ 220,810  This shows an increase over last month.  The list price per square foot for condos, villas and townhomes in Delray Beach was $ 154, exactly the same as last month.  


In March 2018, the average sold price for condos, villas and townhouses in Delray Beach was  $ 208,054 with an average sold price per square foot of $ 146.  Average days on market was 70. Prices rose slightly over last month.  Condos sold for .94% of asking price in February.


 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 - March 2018


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Comments (1)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Elyse - You did a great job explaining the current Delray Beach market.  You are a great value to buyers and sellers.

Apr 06, 2018 04:50 AM