September 2024
Delray Beach Market Stats
The Delray Beach real estate market experienced notable shifts in September 2024. Both single-family homes and townhouse/condo segments exhibited changes in closed sales, median prices, active inventory, and months of supply. This month’s statistics offer valuable insights into the evolving trends and demand dynamics in the local market.
Delray Beach Single-Family Home
In September 2024, Delray Beach’s single-family home market saw mixed trends:
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Closed Sales: Down by 4.1% compared to last year, totaling 47 closed sales, reflecting a slightly slower market pace.
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Median Sales Price: Up 9.0% from the previous year, reaching $687,000, indicating sustained buyer demand and rising home values.
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Active Inventory: Increased significantly by 28%, totaling 275 available properties, signaling a more diverse range of options for buyers.
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Months Supply of Inventory: Increased from 3.9 months a year ago to 5.3 months, suggesting a shift toward a more balanced market.
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New Listings: Down by 20% year-over-year, with 66 new listings, showing a slowdown in new supply.
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New Pending Sales: Decreased by 8.5% compared to last year, with 43 new pending transactions.
This data reveals a slight cooling in sales activity but a notable increase in median prices and inventory, suggesting more choices for buyers and potential stabilization.
Delray Beach Townhouse and Condos
The townhouse/condo segment also showed diverse trends in September 2024:
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Closed Sales: Dropped by 28% year-over-year, with 36 closed sales, reflecting slower market movement.
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Median Sales Price: Down by 7.4% from the prior year, with a median price of $324,000, indicating potential softening in this segment.
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Active Inventory: Skyrocketed by 106%, reaching 362 available units, indicating more options for buyers.
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Months Supply of Inventory: Increased from 3.0 months a year ago to 6.9 months, suggesting a more balanced or even buyer-friendly market.
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New Listings: Rose by 27% year-over-year, totaling 79 new listings, reflecting increased seller participation.
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New Pending Sales: Declined by 2.1% compared to last year, totaling 47 new pending sales.
These trends indicate a substantial rise in inventory, more choices for buyers, and potential downward pressure on prices.
The Delray Beach real estate market in September 2024 displayed increased inventory and shifting market dynamics in both single-family homes and townhouse/condo segments. While sales slowed, rising inventory and median prices reveal a transitioning market that offers more options for buyers.
