Home Prices in Delray Beach Florida for May 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 May. Unlike April, there was a decrease in single family home prices in Delray Beach FL while the price per square foot declined. The closed prices of condos, villas and townhouses increased along with price per square foot.
As you can see from the graph below, listings are not selling exactly for asking price. Some are selling for more. 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.
I listed a villa that went under contract in 2 days! And, we had 3 offers in those 2 days. Seriously!
Delray Beach Real Estate Report Summary
In May 2017, the average list price for single family homes in Delray Beach FL was $ 632,874. This shows a decrease from the prior month. The price per square foot for single family homes in Delray Beach was $24o, also a decrease from last month.
In May 2017, the average sold price for single family homes in Delray Beach FL was $ 632,874. This shows a slight decrease over the prior month. Average days on market was 100. The price per square foot for closed single family homes in Delray Beach was $ 228, slightly down from last month.
In May 2017, the average list price for condos, villas and townhomes in Delray Beach, FL was $ 264,580, showing a slight increase over the prior month. The price per square foot for condos, villas and townhomes in Delray Beach was $ 175, also an increase from the prior month.
In May 2017, the average sold price for condos, villas and townhouses in Delray Beach was $ 250,297 with an average price per square foot of $ 166. Average days on market was 73. This shows an increase in closed sales prices with an 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 email me or call/text at 561-716-7824.
For more information about pet-friendly housing in Boca Raton FL and Boca Raton Real Estate, please contact me. I am a Boca Raton Real Estate Agent and can be reached at (561) 716-7824, by text or by email at Elyse@ElyseBerman.com.
By Email: Elyse@ElyseBerman.com
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.
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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