With the Delray Beach high season officially over today, I’ll share some of the City’s highlights plus introduce something new.
*** Tomorrow, May 1st, is the start of rain season in Delray Beach. Crowds are already dwindling, traffic and the sounds of honking cars are finally settling down. This was perhaps the busiest, and most fun winter I’ve experienced yet. Why?
* New restaurants that opened: Bourbon Steak Delray, Gabriella’s Modern Italian, Kapow Delray, Amar’s new location, Novecento, Lefkes,Table 165, Grooves, The Pantry.
And for us locals, there will be a handful more that’ll open this summer. I’ll write about it here and will publish another video on my YouTube channel in the coming months.
In addition to restaurants, Delray Beach is firing on all development cylinders. Take a look at Parks at Delray, Sundy Village, Atlantic Crossing, Onix Delray Condos.
Here’s a recent Sundy Village aerial photo I took with my drone last week:
There are a handful of other Delray Breach developments slated for 2025 that I’ll keep close tabs on for you so stay tuned.
*** In this recent essay by ResiClub, they talk about Zillow’s bearish outlook on the national residential real estate market. Excerpts here:
* Zillow economists still aren’t calling for a national home price crash, but they did just turn bearish—at least on 2025.
* Zillow economists published their updated forecast model, projecting that U.S. home prices, as measured by the Zillow Home Value Index, will fall -1.7% between March 2025 and March 2026.
* Back in March, Zillow downgraded its 12-month outlook for U.S. home prices to +0.08%. In February, Zillow downgraded its 12-month outlook to +1.1%. And at the start of the year in January, Zillow’s 12-month national home price forecast was +2.9%
* The rise in active listings is fueling softer price growth, as greater supply provides more options and more bargaining power for buyers,” write Zillow economists. “Potential buyers are opting to remain renters for longer as affordability challenges suppress demand for home purchases.”
What This Means For Delray Beach Real Estate Consumers
Regular readers knew this reporting was overdue. Just look at my weekly Inventory Update below. I’ve been yelling about this since mid 2023. Since then, Delray Beach and South Florida supply is up over 350% (no exclamation point needed).
And in 2025, we’re seeing Delray Beach prices fall. In some instances, just a few percentage points. But in others, double digits “price adjustments” are common.
I like to compare the national real estate market to the general stock market. When it goes down a percentage or two, individual cities may go down as much as double digits. In the stock market, when an index fund goes down a percent or two… individual stocks get clobbered.
If you’re a potential Delray Beach home buyer, your patience is starting to pay off. Stay current with our local market and follow my eLetter each week – sign up here. It’s your turn to uncover a great deal as we head into low season where there are less buyers and more listings.
For Delray Beach sellers, reread the last paragraph. You have a LOT of competition. Remember, your first 14 days on the market are critical. When you mis-price your property, consumers will know immediately. The old adage, “sell based on price or time” comes to mind. If you price it right, it’ll still sell fast. If not, time is your number one enemy.
(Main Photo: Delray Beach Intracoastal tranquility)
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*** Still haven’t heard of the Buyer-Broker Agreement? It launched across the USA las August 17th. It’s a mandatory form for buyers and their agents to complete BEFORE touring properties together. It makes sense. It allows a more thorough conversation between the two party’s that is more transparent and engaging. Get caught up with it here
*** If you’re thinking of selling or buying somewhere in Palm Beach County and haven’t narrowed down your location yet, my team is here to serve. Get to know these fine agents in an area you love
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*** South Florida Real Estate Inventory is ABOVE 2019***
Last week’s supply was 63,712
Today’s supply is 63,926
Supply was UP 214 units last week
*** That’s a rise of 10,688 or 19% in 2025 ***
