The Delray Beach Real Estate Market is Hot, Hot, Hot!

Posted by Jeremy Olsher on Monday, October 19th, 2020 at 10:16am.

Delray Beach-area homes are selling at an all-time high & inventory is low.

Our neighbors up North and out West are flocking South. Between the pandemic and taxes, sunny South Florida is looking more and more attractive to our feeder markets.

Most people want single family homes with yards (huge bonus if it has a pool), and there aren't enough houses to satisfy this influx of new Floridians. As we all know, whenever supply is less than the demand, home values are given the opportunity to rise.

If you've been on the fence about selling, now is the time to act and get top dollar!

Contact us today for a free market analysis to discuss what your home is currently worth! It may be worth more than you think! Here is an example of a home we sold in October where the value has significantly increased in a short amount of time:

delray beach real estate

Jeremy Olsher represented the seller of a four-bedroom, three-bath lake front pool home in the gated community of Addison Trace of Delray Beach, which sold for $550,000. This sale majorly raised comps in the neighborhood, as the previous sale (same house, minus a pool) was for $433,500. Another home in the community recently sold for $462,000. An $85,000 and $113,500 price increase in just a few weeks is a big deal, and a sign that the local real estate market is HOT!

Jeremy listed the home on a Friday and held an open house that Saturday morning. Over 28 interested parties attended, and there were multiple offers. The house was under contract within 24 hours at full asking price. One week later, Jeremy listed another lakefront pool home in the same community for $550,000, held another open house and quickly received multiple offers once again. The home is currently under contract.

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