The predominant theme for this high season’s real estate market is; strong.
To start, producing Realtors are working overtime with sellers and buyer. The increase in open houses, broker opens, for sale signs and rising sales is real. The general conversation is about how the next 120 days will get busier.
How? We monitor our marketing traffic. The number of customer inquiries, “leads”, is surging. Folks are now calling and not just sending a text here and there. Conversations are more detailed discussing selling or buying processes and costs.
Why?
* It’s cold up north – been warm in Delray
* Mortgage rates are hovering in the low 6% range
* Supply in South Florida remains high – above pre-pandemic numbers
Plus there is lot of money flowing to Florida. Miami is welcoming more and more Wall Street money. California wealth is moving east and a lot of folks are making it to South Florida.
Then there’s booming West Palm Beach (WPB). Quite a few billionaires are investing in larger commercial as well as luxury residential projects. Vanderbilt University snagged $300 million to build their new campus in downtown West Palm. Go ahead and google what’s happening in WPB and you’ll be busy reading for a while.
And if you haven’t spent much time in Lake Worth or Boca Raton… there are plenty of commercial projects close to, or underway. Boca’s been improving their downtown area to remain competitive and attract some of this money.
Downtown Delray Rides a Wave
That leaves me with, downtown Delray Beach.
Have you seen the apartment construction along the train tracks in downtown Delray? It consumes the entire city block and they’re working on the third floor now.
There’s phase two of Atlantic Crossing snuggled up to the intracoastal. More office, commercial, retail, restaurants and… luxury condos (more on this soon).
And, what we’ve waited over eight years for – Sundy Village. Last weekend, Barcelona Wine Bar, opened. It’s the anchor tenant on the corner of Atlantic Ave and Swinton Blvd. Of course Van Leeuwen ice cream is open, Double Knot, a sleek sushi concept is under construction and The Taco Stand announcement was earlier this month.
And this project is at the epicenter of downtown Delray.
It’s happening right now. At the same time, the second Sundy Village commercial building is near completion at the corner of Swinton and SE 1st St. Adjacent to it is a new 4-story garage for you to park in opening soon.
Downtown Delray continues to grow west. Look at the recent openings Grooves and Tropical Smokehouse are on Atlantic Ave and west 4th Ave.
The downtown Delray growth continues and is in the midst an enormous South Florida real estate expansion. Money is flowing to all cities in the area. Knowing this, 2026 may go down as one of the strongest Florida real estate years in history.
I expand on this idea in my latest “How’s the Delray Beach Market Update.”
If you can’t get downtown Delray Beach off your mind and the urge to act on a dream of living here won’t go away, let’s schedule a morning for my 45 minutes “Tour de Downtown Delray” and grab a coffee at one of our fabulous cafe’s.
(Photo Above: This Monday’s sunrise looking northeast from lifeguard #4)
——————————————-
*** Fundamental real estate investors aren’t having a good time. It’s not their time. I’m one of them and wrote about the woes, here
*** ONLY two units remaining in Pineapple Grove Condos, This downtown Delray condo listing delivers HUGE value. 2 Gyms, 1 pool, business center, bicycle parking, secure-gated parking and a 94/100 Walkability Score! Seriously?
*** 18 months later the Buyer-Broker Agreement is alive as ever. If you haven’t purchased a home in this time period, read this
———————————————
*** South Florida Real Estate Inventory is ABOVE 2019***
Last week’s supply was 55,623
Today’s supply is 57,383
Supply was UP 17,60 Last Week
*** Supply is DOWN 26 of 38 weeks…***
