Delray Beach, FL home prices and housing market

The story in Delray Beach this month is a market that has cooled, and sellers have lost some of the edge they used to have. The typical home value is now about three hundred thirty-seven thousand dollars, down roughly four percent over the past year. That decline is not happening in a vacuum. There are about one thousand four hundred homes for sale right now, and the median time on market has stretched to about seventy-six days. That is more than two months of waiting, which tells you buyers can be patient and choosy. About 350 new listings came on recently, so supply keeps refreshing. Around 18 percent of listings have already cut their price, a sign that plenty of sellers started too high and had to adjust. The median list price sits near two hundred seventy-two thousand five hundred dollars. Put it together and the message is clear. If you are selling here, price it right the first time. Overprice in this market and you will sit, then cut anyway.