October 2024
Delray Beach Market Stats
The real estate market in Delray Beach showed notable trends in October 2024, with both single-family homes and townhouse/condo properties experiencing a mix of steady and shifting metrics. Whether you’re a buyer or a seller, understanding these data points is essential for navigating the current market conditions. Here's a closer look at how the market performed.
Delray Beach Single-Family Home
-
Closed Sales: Flat from last year with 48 homes sold.
-
Median Sales Price: $679,500, a significant 15% increase from October 2023, reflecting strong demand and upward pricing trends.
-
Active Inventory: 290 homes, up 12% year-over-year, indicating more options for buyers.
-
Months Supply of Inventory: Increased to 5.6 months from 4.6 months last year, signifying a shift toward a more balanced market.
-
New Listings: 92, a slight decrease of 3.2% compared to last year.
-
New Pending Sales: 46, up 31%, suggesting continued buyer activity and demand.
Delray Beach Townhouse and Condos
-
Closed Sales: 45 units, down 6.3% from a year ago, signaling a slight cooling in completed transactions.
-
Median Sales Price: $339,000, a minor 0.3% decline, showing relative price stability.
-
Active Inventory: 382 units, up a remarkable 77% year-over-year, providing a wider selection for buyers.
-
Months Supply of Inventory: Increased dramatically to 7.3 months from 3.6 months last year, reflecting a more pronounced shift toward a buyer’s market.
-
New Listings: 95, a 5.6% increase compared to October 2023.
-
New Pending Sales: 53, up 26%, highlighting strong interest in townhouses and condos despite inventory surges.
