I received a lot of flack from my latest video published late last week .
As you can see there’s only one comment on my video, but I received 14 calls from viewers asking why, or how, I changed the Delray Beach real estate narrative so fast.
Regular readers know I’ve been beating the Buyers Market drum since early 2024. But, things change. Sometimes faster than we want.
Change isn’t good or bad – it is what it is. And… I’m just the messenger.
In my video I show how housing supply in Delray Beach real estate zip codes has fallen since May. Anywhere from 16% – 25%. Double digit changes like that, in a short timeframe, can cause disruptions to any market.
I also show how Expired Listings are up a lot this year. Expired listings are just a part of the situation. To note, over the last year there were 2,200 properties sold in the Delray Beach real estate market. At the same time there were 1,540 expired listings. That ratio is high. And it means that there’s pent up seller supply that never sold and is waiting to flood the market with more… supply.
The Delray Beach Real Estate Reality Check
Here’s the gut-punch – Months of Supply (MOS). During the buyers market, most cities saw their MOS hovering in the double-digit range. Some, like the South Palm Beach 33480 zip code saw MOS peak near 19 months (For context, above 6 months is a buyers market).
Look at the graph below where you can see four zip codes and their MOS on the bottom left area of each zip code. Respectively, the MOS of each is 3.61, 2.79, 3.36, and 3.93.
These figures are strong seller market indicators everywhere in the Delray Beach real estate market.
Underneath the Market Type, each zip code arrow is in Seller’s Market territory.
So, again, I’m the messenger. I’m sharing what I see and my interpretation with you.
Your Delray Beach Real Estate Takeaway
Knowing this information, I’ll end with this: people have a longing to know when it’s the best time to sell and buy. That goes for real estate, just like the stock market. But most folks don’t act when the moment is in front of them.
Unfortunately, most folks sell low and buy high. They are either not paying attention, or they’re listening to others who are “not-in-the-know.” Counterintuitive, right?
Well, for 18 months I wrote about our Buyer’s Market. Before that – for 3 years – I wrote about our Seller’s Market. Did you act during those times, or wait?
This time is no different. We’re now hurling towards our next high season that begins in about 45 days. And already, I’m seeing the market shift back in seller’s favor.
You have time, now, before the snowbird rush begins and when demand soars, to capitalize on the Delray Beach real estate Buyer’s Market. But waiting may go against you.
I’m sure I’ll get flack, and a lot of people unsubscribe from todays newsletter. I expect it. But just know I’m sharing this data with you looking out for your best interest. After all, if Delray Beach real estate is what you want to own, you deserve the most accurate and current information available.
(Main Photo: We had a lot of rain in September. I recall 15 straight days like this photo)
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*** Delray Beach has the Clearest, Bluest Water In The Southeast
*** Speaking of beaches, these two articles, here and here, showcase Delray’s commitment to restoring its coral reefs – a huge part of its sustainability goals and restoring tourism for years to come
*** This Monday evening I attended the Delray Beach Community Redevelopment Agency’s Public Outreach Meeting to shape the future of The Set. This is the West Atlantic Ave project between Swinton and I95. I’ll share more in the weeks to come as this area of downtown Delray has a bright future
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*** South Florida Real Estate Inventory is ABOVE 2019***
Last week’s supply was 57,409
Today’s supply is 57,300
*** Supply was down slightly last week ***
*** Supply is DOWN 17 of 21 weeks and Down 10% From April’s high***
