Delray Beach real estate looks different today than ten years ago.
Ten years is a good amount of time to see if an investing idea worked, or not. Ten years allows a market to gyrate, ideas to be put in stressful situations, and see how they act over time.
But, at times we get caught up in the present moment with crazy short-term thinking and ideas like:
* “Is now a good time to buy?”
* “Is now a great time to sell?” (to create lasting wealth, selling is never a good idea)
* “Will prices go up next year?”
* “Should I wait for mortgage rates to drop before I buy?”
(Delray Beach real estate home sellers may want to watch my latest video that helps answer one important question)
Longtime readers know I’m not a fan of short term investing. I don’t trade stocks, I’m not a fan of AirBnB’s, and my biggest investment mistakes have been when I sold real estate. (Tough love).
Delray Beach Real Estate – Then v Now
Knowing this, here are some facts about the Delray Beach real estate market in December, 2015 (ten years ago) compared to today:
* The Median SOLD price was $155k – today it’s $375k. Up 142%
* Days on Market was 79. Today it’s 92
* Active Listings were 1,481. Today there are 1,792. Up 21%
* Population was 66,230. Today it’s appx 72,000. Up about 10%
* Mortgage Rate was 3.95%. Today it’s 6.3%. Up 60%
* # of Sold Homes YTD was 3,686. 2025 YTD is 2,923. Down 21%
Now, look at what Delray Beach Real Estate looked like in December 2005:
* Median SOLD price was $243k
* Days on Market was 98. Today it’s 92
* Active Listings were 1,607. Today – 1,792. Up 12%
* Population was about 60k. Today it’s appx. 72. Up about 20%
* Mortgage Rate was 6.24%. Today it’s 6.3%. No change
* # of Sold Homes YTD was 3,073. 2025 YTD is 2,923. Down 7%
There’s one metric showing consistent growth – population. From the data, population is growing about 10% every 10 years.
As more people move here, there’s more Delray Beach real estate demand. At the same time, there is less land on which to build. Think about it, from the beach to Military Trl – the technical boundary for Delray Beach – there are no more developable land plots.
And when you go west to the Turnpike there’s nothing left until you get to Lyons Rd. But, most of that land sold in the last couple years and will be developed by the end of this decade. Beyond that is the Everglades – unbuildable space.
When I look to the next ten years, there will be more population with a stagnant supply of Delray Beach real estate.
So, if you’re a short term investor or buyer, you’re subject to market gyrations. But, if you think longer term, fundamentals play a significant role for Delray Beach real estate: More demand (population) and less scalable developments/supply means prices should perform well for you.
This information should help you eliminate those pesky four questions I laid out above.
Keep things simple – think long(er) term.
(Main Photo: A Delray Dunes Country Club home late afternoon last week)
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*** Grab my Q4 Distinctive Downtown Delray Beach Real Estate Condo Guide here. Then have a look at this condo with its Walkability Score is 94/100
*** If you aren’t caught up on our local luxury real estate market, here’s a refresher for you
*** DeListings Surge in these national markets
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*** South Florida Real Estate Inventory is ABOVE 2019***
Last week’s supply was 57,751
Today’s supply is 57,989
*** Supply was UP 238 units last week ***
*** Supply is DOWN 20 of 31 weeks…***
