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 East, Country Club Acres West, Limestone Creek, Ruby at Delray, Sand and Sea Village, Tradewinds 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.

History of the city of Delray Beach, Florida

The history of Delray Beach started when William and Sara Gleason, natives of Wisconsin, purchased thousands of acres of land in Southern Florida, in 1868. One of those thousands of acres of lands became the present Delray Beach. Eventually, William Gleason became the Lieutenant Governor of Florida from 1868 to 1870. Later on, their sons managed real estate transactions (for those who want to settle in Delray) with the business name of “Gleason Brothers”. Before, the city of Delray was identified as the Orange Grove Haulover and was changed to Zion by Annie Andrews in 1885. Then, in1894, a U.S. Congressman for the State of Michigan, named William S. Linton, together with David Swinton and Major Nathan Boynton, bought tracts of land from H. Flagler’s Model Land Company and the Gleason Brothers. Also on the same year, African –American established first school in the town. After a year, the town’s name was again changed to Linton.  Then, in 1896, the first church in Linton, Mt. Olive Baptist Church was built. Finally, in 1898 the name of the Town of Linton was changed to "Delray" following hardship brought on by crop-destroying freezes.   

A town leader named W.W. Blackmer suggested the name "Delray" which was derived from the name of a town located near Detroit, Michigan. After a few years, the Ladies Improvement Association, a small group of women, initiated to build projects in the town like a cemetery, the public library, Atlantic Avenue renovations, and a town hall. Hurricanes have also hit Delray and one of them wrecked the British ship, SS Inchulva which happened in 1903. Later in 1904,”Yamato”, an agricultural settlement located south of Delray was established. One of those was George Morikami for whom the Morikami Museum and Japanese Gardens in Delray Beach is named. Subsequently, the Town of Delray passed the first bond issue and the first city electric and water plants were built. On May 11, 1927, the two incorporated towns - Town of Delray Beach and the City of Delray - united to form "The City of Delray Beach."  After World War II, the city developed rapidly with the business brought to the area by the Delray Beach Tennis Center, which has hosted several major international tennis events such as the April 2005 Fed Cup (USA vs. Belgium), the April 2004 Davis Cup (USA vs. Sweden), the Delray Beach International Tennis Championships (ATP Event), and the Chris Evert / Bank of America Pro Celebrity. Recently, the historic home of teacher/principal Solomon D. Spady was renovated and turned into the Spady Cultural Heritage Museum. The Spady Museum houses a black archives and hosts exhibits and programs designed to recognize the efforts of blacks who were instrumental in shaping Delray Beach and Palm Beach County. As of 2007 the museum is being expanded with the renovation of a 1935 cottage as a Kid's Cultural Clubhouse, and the construction of a 50-seat amphitheater named for C. Spencer Pompey, a pioneer black educator. In 2007, Delray Beach was labeled as the drug recovery capital of the United States because it had one of the country’s largest recovery community and relative number of halfway houses.

Delray Beach