Today’s letter is about two Delray Beach real estate property types.
Longtime readers know it’s a rare event for me to write about either of these, or two ideas in one essay… so today is a bit unusual.
But as a realtor focused on the Delray Beach real estate market, it’s important to show things of value as often as I can. The first section is good for townhome sellers and buyers… and the second section is for buyers and investors.
Delray Beach Real Estate Quality Video Content
*** My latest video is your Distinctive Guide to downtown Delray Townhomes. I created this as I’m working with several customers focusing on townhomes in the downtown area. There’s a common question that comes up from each customer, “What’s the average price per square foot?”
Based on 16 buildings and 45 units sold in the last 8 months… the answer is $542 per ft2. (Note: I’ll complete a broader picture when I add all the townhomes between the intracoastal and beach next month. With those included there will be almost 900 townhomes in total).
The total number of townhome in this sample is 687. So the turn over rate (percentage of sold units divided by total units) is 6.5%. Interestingly, the turnover rate for all downtown condos is 6.3%. These percentages are on the low side of what “normal” turn over rates would be – or about 9%.
This is a clear indication that homeowners are still locked in with low-rate mortgages unwilling to sell in exchange of a higher rate. This may last longer than experts think.
Although the Delray Beach real estate market is not immune to economy slow-downs, our community offers something special to those considering living here. So whether you’re selling your townhome, or need one for a family relocation, download my free Distinctive downtown Delray Distinctive Townhome Guide that you’ll find useful.
A Pristine Delray Beach Real Estate Condo That Won’t Last
*** My latest listing is a downtown condo at the 111 SE 1st building. Built in 2019, it’s one of the newest in town, and shows like it too.
I’m sharing this as most likely you’ve never see the inside amenities. I’ll go out on a limb and say they are perhaps the finest amenities in downtown Delray.
Click the link above and you’ll see a pristine fitness center on the 5th floor with modern equipment overlooking the pool. On the 3rd floor is the pool with gorgeous cabana’s and comfy lounge chairs. It also has two BarBQ grills, a food preparation area and pool table. And a nice fire pit for evening enjoyment.
The 111 SE 1st Condos are in a prime location as it is today. But it’ll get better soon. At the center of this Delray Beach real estate, one block away, construction on Sundy Village is progressing fast. Although no completion dates are available, it looks like sometime in late 2025 it’ll be ready (don’t quote me on that). Follow that link to see names of restaurants and businesses who will be their initial tenants.
This is all to say that owning a condo like my latest listing is a) in the path of development, b) where money is flowing and c) where there is more job creation. These are all great qualities in real estate investing.
So grab my downtown Delray Beach Townhome guide now. And if you, or you know someone, are seeking one of the finest addresses in the Delray Beach real estate market – call me immediately.
(Main photo: aerial looking down on the internal amenities at 111 SE 1st Condos)
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*** If you’re curious to try Ceviche, or already love it… check out the newest little gem in town, The Cebiche Co on Atlantic Ave near A1A. Delish!
*** Hurricane season is here. Go to the City of Delray Beach handy information on preparation and news
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*** South Florida’s Surging Supply Continues ***
* Last week there were 47,031 units available…
* This morning’s Inventory is 46,950 *
Since August 1, 2023, supply is up 72%
