Is Delray Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Delray Beach was a Seller's Market.
Key Takeaway
Delray Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Delray Beach, FL
How much do homes in Delray Beach, FL cost?
Median Sold Price
$354,010
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Delray Beach have sold for 8.8% less than they did a year ago.
Summary: The median home sold price in Delray Beach was $354,010 in March 2024, down 8.8% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $164.9K | $150K | -9.0% |
| 2 Bedrooms | $280.5K | $259.5K | -7.5% |
| 3 Bedrooms | $613K | $621.9K | +1.5% |
| 4 Bedrooms | $1.2M | $1.1M | -8.5% |
| 5+ Bedrooms | $1.7M | $2.2M | +26.6% |
Summary: Delray Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9%, 2 bedroom homes decreased by 7.5%, 3 bedroom homes increased by 1.5%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes increased by 26.6%.
Median Sold Price Compared To Nearby Cities
| Boynton Beach | $360.4K | $403.9K | +12.1% |
| Boynton Beach-Delray Beach | $372.9K | $386.1K | +3.5% |
| Highland Beach | $925K | $907.5K | -1.9% |
| Delray Beach | $388.2K | $354K | -8.8% |
Housing Supply in Delray Beach, FL
How many homes are available in Delray Beach, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,905 | 2,080 | +9.2% |
Summary: The Delray Beach real estate market had 2,080 homes for sale in March 2024, a 9.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 225 | 255 | +13.3% |
| 2 Bedrooms | 980 | 1,091 | +11.3% |
| 3 Bedrooms | 434 | 459 | +5.8% |
| 4 Bedrooms | 152 | 150 | -1.3% |
| 5+ Bedrooms | 114 | 125 | +9.6% |
Summary: The Delray Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 9.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 206 | 219 | +6.3% |
Asking Price vs. Sold Price
181 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Delray Beach, you may be able to get a good deal. 82.6% of homes here sold below asking price last month.
Summary: A total of 219 homes were sold or pending in Delray Beach in March 2024, up by 6.3% month-over-month. Of the 219 sold homes, 83% were sold under asking, 12% were sold at asking, and 5% were sold over asking.
Days on Market for Delray Beach, FL
How long does it take to sell a home in Delray Beach, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 49 Days | 53 Days | +7.3% |
Summary: Homes in Delray Beach had an average of 53 days on market in Mar 2024, up by 7.3% compared to last year.
Breakdown of Home Sale Times
95 Homes Were Sold
Under 30 Days
77 Homes Were Sold
In 30 - 90 Days
47 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Delray Beach are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 219 homes were sold in Delray Beach; 43% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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