*** The data is still a bit early, but our surging housing supply over the last year appears to be tapering off.
Is this South Florida real estate trend coming to an end?
Longtime readers may recall my essay from June 19, 2024. That was the week when our South Florida real estate housing supply hit its annual low. It bottomed at 46,832 units for sale. That was one of Florida’s strongest, and most powerful real estate trend in years.
Since then, inventory ripped higher every month. From my Weekly Inventory report at the bottom of each essay, supply peaked on April 30th this year at 63,926. Over that 10 month period, supply rose over 35%.
But April 30th was the last official day of high season.
Our Local Real Estate Trend Reversal In The Making
Since then, the South Florida real estate trend for supply continues to fall. As you can see below, supply today sits at 62,028. That’s a drop of 1,898 units, or 3%, in just 60 days.
To me, 60 days isn’t enough to call a real estate trend – we need more time and data. But it’s worth noting and sharing as trends don’t last forever. And, national mainstream news sources are now jumping on the “Surging Supply” bandwagon.
The Delray Beach Supply Real Estate Trend is Reversing. Look at this chart:
But we do business on a local level. And the South Florida real estate Buyers Market rages on. In itself, this is a strong, new real estate trend with some oomph behind it. And with all this new inventory languishing on the market, buyers are having more fun than ever negotiating good deals. I anticipate this to continue through the summer slow season.
*** The onslaught of Downtown Delray new restaurants and entertainment keeps growing.
Last Friday night my wife and I got the energy to go walk “The Ave” and left our home at 9:30pm. It was a warm, tropical evening. As it’s slow season, we didn’t expect it to be crazy-busy. Surprise!
As we headed east along The Ave, TinRoof was full of live music goers. Elisabetta’s was packed. We walked by the future site for Geronimo’s who “wants to be your next Tequila story.” And next to Sloans ice cream is the future site for TrueVegan. The concept is awesome and will have two floors plus outside seating in the front and back. Locals can’t wait for this one to open.
Then we went inside Roka Hula as it opened one week ago. It was packed. To eat we ordered Korean Short Rib Bao Buns and Japanese A5 Wagyu Hot Stone. For cocktails my wife ordered a Bangkok Betty and I got El Narco (this was perhaps the finest marketing for a drink I’ve ever experienced. You’ll have to order it yourself and let me know).
We strolled by GoodNight JohnBoy. The line was 75 people long out the door. Inside looked like a Miami nightclub. This is inside the Delray Beach Market just south of The Ave.
Then we ended up at Hyde Park Prime Steakhouse. Gorgeous. What a menu and wine selection. We felt like we were back in Chicago with its dark ambiance and fabulous wall art.
We feel fortunate to be living in such a great city. Downtown Delray is a vibrant, energy-rich place we call home. If you haven’t taken a weekend night to experience it yourself… add it to your list.
(Main Photo: Jacaranda trees surround an Osceola Park home. To see more of these visual stunners, head down to S. Swinton and 10th St)
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*** I love gardening. Having lived in Costa Rica for 13+ years I learned a lot about exotics and fruit plants, and ways to be easier on your land. So if you own a home with a yard, here are some ideas for a greener, eco-friendly yard
*** If you haven’t bought real estate in over 12 months, you need to know about The Buyer-Broker Agreement and how your agent cannot show you property until it’s reviewed and signed. Snoop around my “Buyer” tab on my home page for more useful buyer info
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*** South Florida Real Estate Trend for Inventory is ABOVE 2019***
Last week’s supply was 62,183
Today’s supply is 62,029
Supply was DOWN 154 Units last week
*** Supply is UP 8,478 unit or 15% in 2025 ***
