Thursday, February 24, 2011

Delray Beach Real Estate Market

Delray Beach, a city in the South eastern part of the sunny state of Florida, is a mecca for those who want to enjoy a warmer climate. The city’s wide-ranging sports and recreational facilities and services assure its residents to enjoy healthy and quality living. Its award winning beaches, gardens, museums, and neighbourhoods are truly amazing and relaxing. With a population of 64,112, Delray is a perfect abode from the hasty lifestyle of the metropolitan.

Situated in the middle part of the Palm Beach County, this city has been a favourite destination for families and retirees. Through the years, Delray’s real estate market has progressed significantly.  Even though some of the areas were renovated, still, the small town charm of Delray remains the same. The master plan made by the government has led to the city’s many residential and commercial opportunities in boom. The impact of tourism has led many hotels to establish in this area like Crane's Beach House, Marriott Delray Beach, The Colony Hotel, The Sundy House Inn, and more. For residential dwellings, Delray Beach offers apartments near the ocean as well as single family homes. Retirees can also choose from the diverse retirement housing options include apartments, homes, condos, and town houses.
Delray Beach City

Likewise, the cost of living in Delray is 133 that is much lower than other states. Premium insurance discounts can be availed by homeowners through home inspection programs. One can also see a lot of opportunities in this city for it has a future job growth of 28.3 %.  Some of Delray’s serene and upbeat neighborhoods are Country Club Acres EastCountry Club Acres WestLimestone CreekRuby at DelraySand and Sea VillageTradewinds Estates East, and Seagate. 

Real estate prices in the area fell quite a bit between 2006 and 2009 and in Nov 10 to Jan 11 median sales price for homes in Delray Beach FL was $100,000 based on 542 home.  Compared to the same period one year ago, the median home sales price decreased 23.1%, or $30,000, and the number of home sales decreased 9.8%. The average price per square foot for Delray Beach FL was $108, a decrease of 18.8% compared to the same period last year. The average listing price for homes for sale in Delray Beach FL was $503,782 for the week ending Feb 09, which represents a decrease of 3%, or $15,753, compared to the prior week. There are currently 2,233 resale and new homes in Delray Beach on Trulia, including 1,680 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. In summary, 58.46 % of Delray’s houses are owned, while 25. 73% are being rented, and about 15.82 % are vacant.

1 comment:

  1. Hi all,

    Delray beach is a rapidly expanding city in South Florida’s Palm beach county that boasts award-winning public beaches and upscale dining and shopping. Delray beach has been known to be one of the number one places for housing in the city of Florida. It’s a huge place which enables you to have a lot of options to choose from. Thanks a lot...

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