Home Prices in Delray Beach Florida for October 2017
Real estate market data for Delray Beach, FL provided by Elyse Berman of Realty Associates Florida Properties.
We saw some interesting things in Delray Beach, Florida in October. Closed sales of single family homes showed an increase while the price per square foot decreased. Closed prices of condos, villas and townhouses decreased while the price per square foot increased slightly over the prior month.
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 not selling exactly for 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 suggests that homes 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, as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
Delray Beach FL Real Estate Report Summary
In October 2017, the average list price for single family homes in Delray Beach FL was $ 773,113. This shows a slight increase over last month. The list price per square foot for single family homes in Delray Beach was $225, showing a decrease from the prior month.
In October 2017, the average sold price for single family homes in Delray Beach FL was $ 673,052. This, too, shows a slight increase over last month. Average days on market was 118. The price per square foot for closed single family homes in Delray Beach was $ 206, down from last month.
In October 2017, the average list price for condos, villas and townhomes in Delray Beach, FL was $ 189,107. This indicates a decrease from the prior month. The list price per square foot for condos, villas and townhomes in Delray Beach was $ 147, slightly up from the prior month.
In October 2017, the average sold price for condos, villas and townhouses in Delray Beach was $ 179,488 with an average list price per square foot of $ 140. Average days on market was 71. Prices decreased from last month, although the price per square foot did go up.
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 Elyse@ElyseBerman.com, call/text 561-716-7824.
All information deemed accurate but not guaranteed or warranted.
By Email: Elyse@ElyseBerman.com
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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.
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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