Is there a shift happening in the Delray Beach real estate market?
Today, I’m sharing fundamental information about what’s happening right now.
Sellers are having a difficult time in this real estate market. Why? Let’s look at the days on market.
As you can see in this chart, the average days on market for the last month hovered at 96 days. Over the last year, it averaged in the mid-80s. Historically, here in South Florida, it has averaged in the 60s.
So why all the problems?
Number one: sellers are still pricing their properties too aggressively in this buyers market and buyers aren’t biting.
Let’s dive right in by taking a look at the median price.
Going back to 2010, the median price back then was $100,000. Since then, it’s up over 300% and sits around $400,000.
For the last three years, the median price has been stuck at $400,000. Look:
This is critical information for home sellers. Why? Because the general public thinks the 2025 real estate buyers market is still red-hot and that prices are going up.
Let’s dig deeper.
Look at just the condos and townhomes for all of Greater Delray Beach. In this next image, you can see the median price is hovering around $260,000. That’s actually down slightly from September 2022—about three years ago.
Remember, this covers all of Delray Beach. Out west, we have more retiree 55-plus communities. On the east side, we have more downtown Delray Beach properties.
Speaking of that, I just completed my Downtown Delray Beach Distinctive Guide for condos and townhomes. If you’re thinking about buying in downtown Delray, grab it here.
Now, let’s look at active supply, which might become the biggest piece of news in Delray Beach real estate in 2025.
At the beginning of the essay, I said there might be a shift happening. These next two charts show why.
Supply bottomed in January 2022 at 653 units. Since then, it soared—reaching 2,200 units in April. That’s an increase of over 237%. This chart screams buyers market:
But in the last 12 months, supply turned downward after April and is now down 10% in just the last few months—about 3½ months of data.
This is news that home sellers have been waiting for over the last three years. Why? Because more supply puts downward pressure on price. It could ease the buyers market stronghold Right now, Florida is experiencing the highest supply in recorded history—which doesn’t bode well for sellers.
We’ll be keeping an eye on this graph over the next three months. This is the deep buying season, when sellers get nervous because demand drops. No one’s coming to Florida because of the hurricanes. We’ll get a clearer picture starting in November.
That brings me to the months of supply chart.
For those who don’t remember: months of supply is the indicator that determines whether it’s a seller’s or a buyer’s market.
- Under 6 months: traditionally a seller’s market (like during the pandemic).
- Over 6 months: a buyer’s market (like today).
Looking at the chart—back in September 2022, months of supply was just 3.1 months. That was a massive seller’s market—sellers got the price they wanted without negotiation.
In December 2023, it broke above 6 months and became a buyer’s market. It peaked at 8.5 months. Since April—around the same time the supply numbers shifted—it has been falling, now at 7.85 months.
We’ll watch this closely over the next 90 days as we get through the low selling season (hurricane season). November 1 marks the return of high season.
How Delray’s Buyers Market Affects Sellers and Buyers
Year-over-year, the median price is flat at $390,000. But with big month-over-month drops, I expect the year-over-year number will turn negative next month unless something changes in August.
Now, a boots-on-the-ground update: The last 30 days can be summed up in one word—struggle.
Real estate agents are having a hard time communicating realistic pricing to sellers. Many sellers are in denial, listening to national news and thinking it’s still a good market.
The reality? Prices have flatlined in Delray Beach. Sellers and agents are trying to find the right narrative, price, and strategy. There are more training sessions in the industry right now to help agents present accurate, data-driven competitive market analyses to sellers.
But here’s the challenge: months of supply is still high, inventory is still high, and properties are lingering on the market.
Welcome to August—now the most active 90 days of hurricane season: August, September, October. This is when sellers get nervous because demand falls off. Buyers generally don’t come to Florida during hurricane season.
For buyers, however, this is the ultimate time of year to get engaged and purchase over the next 90 days. Bring your bathing suit, take a dip and engage in this strong buyers market.
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Delray Beach Real Estate Buyers Market Is Heating Up! It’s been a buyers market in downtown Delray Beach for the last 17 months – but who’s counting. Metric after data point, shows this buyers market remains strong. Even a slight shift won’t derail what’s happening in the Delray Beach real estate market. This buyers market has its grip on now.
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