Have you seen all the new residential construction happening in the Delray Beach real estate market?
This is the time of year to take stock of what’s going on and tour first-hand what our Delray Beach real estate market looks like.
It’s vibrant.
I haven’t seen this much construction in my years living here. And there’s plenty under-the-radar you’ve yet to see, but you will in 2024.
Delray Beach Real Estate Construction Revs Up
Here are some areas shaping “The New Delray”:
* North of George Bush Blvd – south of the car dealerships – east of Federal Hwy – west of the Intracoastal. This are is about a 1/2 mile long by 5 football fields wide. Luxury residential construction is rampant here… and so is new commercial activity.
(if you haven’t driven George Bush Blvd east of Federal Hwy, check it out. A complete overhaul in the making)
* Osceola Park: On the south side of Atlantic Avenue from the train tracks to SE 5th Ave. I published a video on the area a couple years ago and will up updating it soon. It went from a mid century neighborhood to luxury in a jiffy. Prices rose from the $500k range to over $2.5M.
* New luxury boutique condo and townhome development signs popped up this month on Federal Hwy north and south of Atlantic Ave. As a matter of fact, a business partner has one condo and one townhome development with city permits and approval. One is two block north of Atlantic Avenue on Federal Hwy… and the other is on the south side by two block. Impeccable location. Both projects will be luxury developments where prices are north of $1 million. The Delray Beach real estate market can absorb more luxury products and these two have some of the most prime locations in town. I’ll have more data on these in early 2024.
* Out west you’ll find Lennar Homes, Delray Trails – a 55+ community with over 600 homes/villas under construction now. I’m be publishing a new video in December! What strikes me most about this development is how it fulfills a huge need in the Delray Beach real estate market. New 55+ construction. Yes, demand is there.
* Also west of I95 is a 90-home luxury development that showcased two model homes last week. Prices start in the low $900k range. I’ll publish this new video in a couple weeks.
* Take a cruise on Congress, south of Linton Ave, and you find a huge project under construction.
* Lake Ida: It could be the most desirable neighborhood in the Delray Beach real estate market. But six years ago it had yet to undergo a massive change from mid century homes, to modern contemporary. Back then you buy a home for $589k. Today the entry price is near $1.6 million or more. It’s stunning with the lake, larger lots than normal and close proximity to downtown Delray. To see more, take a gander at this video I published in mid 2023.
And finally, the Delray Beach real estate market cannot be complete without acknowledging The Settlement District area. This is the area between I95 and Swinton Avenue, and Lake Ida Rd to south 10th street. It’s 1,000 is not all historic or part of “The Set”, but it too, continues to see new construction in the central part of the city and at entry pricing around $500k. Don’t overlook this area as you may find some spectacular real estate options. And watch my two video’s that will help you get familiar here and here.
This is just a sample of the most current Delray Beach real estate news… and there’s more. The future of Delray is being formed right now. If you’re one like us who’ve already made Delray Beach home, there is no reason to wait. Just buy, get your piece of paradise in one of the most dynamic cities in Florida today.
[Main Photo: new condo construction on George Bush Blvd near A1A]
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*** Inventory is Rising FAST – UP 34% in 114 days! ***
* Last week there were 36,393 available…
*** This morning’s Inventory is 36,829! ***
That’s an INCREASE of 436 Units in One Week!
OR… up 4,624 in 5 weeks!
Inventory is UP 11 weeks in a row
