Regular viewers know my gig idea for our Delray Beach 2026 real estate market is about the rising number of sales this year. So far, this idea is playing out well.
First look at the overall Delray Beach home sales data. Y-T-D Sales are up almost 4% – and all this while mortgage rates rose in Q1. I can only imagine how winter sale would’ve been had rate remained flat or even fell.
Now look at the strength of our luxury home market. First, the number of sold properties above $5M is up 118% this year. But when I look at our luxury market in the 33483 zip code of $5 million sales they’re up almost 85%. For comparison, sales in the entire area are up 25% – from 137 sales to 171.
In my weekly newsletter last week, I wrote about why this is happening. If you’d like to get my letter, click this link. I included an excerpt from a recent Forbes essay,
“Over the past several years the region has become home to an estimated 20,000 financial services firms employing more than 250,000 people, and since 2020, well over 1 trillion dollars in assets under management has relocated to Florida. West Palm Beach has become the epicenter of what many in the industry now call, “Wall Street South.”
Delray Beach Home Sales and Active Listings
Here’s the one chart for Delray Supply:
It’s down about 21% YOY. This is helping the market change from a buyer to a seller’s market in 2026. When I look at the South Florida market, there’s some correlation. What I wrote in my weekly newsletter is South Florida supply is down 39 of the last 53 weeks. That’s notable.
And now we’re about to drop below the benchmark 2019 data when supply was consistently around 54,000 units available.
Now let’s have a look at the Sold to List Ratio (STL).
This is greater Delray Beach.
One year ago – during the strong Buyer’s Market – it was 87. Today it’s 91. This is a huge psychological increase that sellers are watching like a hawk. In essence, a $1 million home sold a year ago for about $870k. Today it’s “only” selling for a 9% discount, or $910k.
What Agents Think About Delray Beach Home Sales
In speaking with agents throughout the area, and from my own business, the South Florida market is awake and strong. We’re experiencing increased lead and sales activity since early February.
More importantly, all those listings that’ve been on the market 115, 140 or 170 days are now getting action.
In the last 14 days I’ve shown 9 homes where the listing agent called the next day saying they received another offer and they’re seeing if my customers were ready to play ball.
Back to my weekly newsletter:
“(West Palm Beach) projects appear to be in “the mid innings of this baseball game. It’s never about timing the market… but about how much time you spend in the market. With this mindset, there’s time left in the game to win – you just need to be in the game.”
I’ll leave you with this from my newsletter:
“One year ago today, South Florida had 63,926 units available for sale. Today there are 54,861. That’s a 14% drop in the last 365 days.”
If you’re a buyer, get prepared now. Delray Beach home sales are strong, but there’s still good inventory out there to sift through. And if you get Pre-Approved today, that pre-approval will last 90 days with most lenders. Our Gov’t is doing all they can to lower rates. Should they drop… you’ll be ready to make a purchase with confidence.
And for potential home sellers, lower supply favors you. And you, too, can benefit from rising STL and potentially lower mortgage rates that will bring more buyers to the market.
Buyers… Sellers… Call me. Let’s grab coffee or a glass of wine and chat.
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Why Delray Beach Home Sales Are Soaring Delray Beach real estate is not just strong and balanced… it has some oomph behind it. When real estate investor find opportunity and go all-in, the rest an benefit. And that’s what is happening now with Delray Beach home sales. All metrics I watch show good signs, with no changes on the horizon… WELCOME TO MY CHANNEL! If you’re new, please subscribe: 👇👇👇👇👇👇👇👇👇👇 ✅ https://bit.ly/33u34fZ Get my weekly eLetter at no charge https://mrdowntowndelray.com/weekly-eletter-2/
