The national year-over-year existing home chart is just the beginning of a long, long conversation.
You see, a lot of people get real estate information from national network news channels. That’s fine, but we sell and buy real estate locally. So today I thought it’d be fun to share a side-by-side comparison on how Delray Beach real estate is doing compared to nationally.
Starting with the chart in this essay’s feature image, existing home sales in the U.S. are down 28% from October 2021 to last month. Delray Beach real estate existing home sales is down 33%.
Also:
National Delray Beach
Median List Price $425,000 $335,000
Days On Market 51 33
Active Listings Up 33% Up 59%
New Listings Down 24% Down 1%
To put a narrative on this:
* Delray Beach real estate is less expensive than the national median
* Delray Beach real estate is selling faster
* Delray Beach real estate Inventory is growing faster
* Delray Beach New Listings are stronger (or, less bad)
Again, watching the nightly news real estate report is fine for entertainment purposes. But if you’re a Delray Beach homeowner concerned about how to position your property… or you’re a buyer relocating to Delray Beach and preparing your finances… local data is all that matters. Nothing else.
No need to watch the news in order to make a sound decision. That would be counter-productive.
So, whether you’re a homeowner or buyer, and need clarity on property valuations… let’s hook up and rummage though the data. I’m sure you’ll find good things going on with Delray Beach real estate that’ll help you get from here to there… or there to here, just fine.
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* My October “How’s The Delray Beach Real Estate Market” video is here.
(November’s report will be out next week)
** How about a beachfront condo with unreal white-water ocean views with LOW HOA fees, no special assessments and next to a Five Start Resort? Look at this.
*** Who You Work With Matters – I’m GRATEFUL for your referrals. If you know someone who may need real estate services please share my cell phone 561-777-4089. If that’s you – call me!
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*** Your Weekly INVENTORY Update ***
* 38 months ago there were over 54,000 properties available in S. Florida. It bottomed this February at 14,485… or a 73% drop.
* Last week there were 31,252 available.
* This morning’s Inventory is 31,483
*** Inventory is up 117 % since February lows ***
