Home Prices in Delray Beach Florida for August 2017
Real estate market data for Delray Beach, FL provided by Elyse Berman of Realty Associates Florida Properties.
We saw some interesting things happen on both listing and closed sales in July. We had a mixed bag in Delray Beach Florida. Closed sales show a significant decrease in the price of single family homes, as well as the price per square foot. Closed prices of condos, villas and townhouses increased ever so slightly, along with price per square foot.
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 Real Estate Report Summary
In August 2017, the average list price for single family homes in Delray Beach FL was $ 582,861. This shows a significant decrease from the prior month. The list price per square foot for single family homes in Delray Beach was $222, also a decrease from the prior month.
In August 2017, the average sold price for single family homes in Delray Beach FL was $ 550,944. This shows an increase over the prior month. Average days on market was 88. The price per square foot for closed single family homes in Delray Beach was $ 212, down from last month.
In August 2017, the average list price for condos, villas and townhomes in Delray Beach, FL was $ 202,354, slightly higher than the prior month. The list price per square foot for condos, villas and townhomes in Delray Beach was $ 146, showing a slight increase from the prior month.
In August 2017, the average sold price for condos, villas and townhouses in Delray Beach was $ 190,926 with an average list price per square foot of $ 146. Average days on market was 96. This shows a slight increase in prices of closed sales, as well as a slight increase in price per square foot over the prior month.
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.
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All information deemed accurate but not guaranteed or warranted.
By Email: Elyse@ElyseBerman.com
By Text - 561-716-7824
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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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