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Delray Beach Real Estate Market

The Delray Beach real estate market is an active one. Located on the east coast of the Florida peninsula and home to The Pineapple Grove Arts District, Cornell Art Museum, Morikami Museum, and the Wakodahatchee Wetlands. It’s also where you’ll find plenty of residential real estate choices. Here, there are single-family properties, condos, and townhomes.

All of this, not to mention the fact there’s the beach, plenty of fun under the sun, and a great place to live, work, and play. So, let’s take a look at the Delray Beach real estate market.

Delray Beach Real Estate Market

The Delray Beach real estate market is a dynamic one. Currently, the median home value in Delray Beach stands at about $196,500. That represents an increase of approximately 8.3 percent over the past year. Experts predict home values in Delray Beach will continue to increase by about 6.4 percent over the course of the next year.

Presently, the price per square foot in Delray Beach stands at $219, while the median list price is $279,900. However, the median sales price in Delray Beach is only $210,800. (By comparison, the median rent price in Delray Beach is now $1,925. This is lower than the Miami-Fort Lauderdale-West Palm Beach Metro area, which has a median rent of $2,100.)

Delray Beach enjoys a healthy residential real estate market. At this time, mortgage delinquencies are at just 0.8 percent. What’s more, underwater homeowners comprise only 6.5 percent of all residential property owners in Delray Beach. (The same category stands at 7.2 percent in the Miami-Fort Lauderdale-West Palm Beach Metro area.

Reasons to Choose Delray Beach to Buy a Home

Delray Beach, located on the east coast of the Sunshine State, is situated south of West Palm Beach and north of Boca Raton. Because it’s in Florida, it makes for a great place to own a home. Here are a few reasons why:

  1. Strong appreciation. Florida is one of the most highly desirable places to live in the country. The land is at a premium here and those two realities alone translate into a solid rate of appreciation.
  2. Low-interest rates. Though interest rates are currently inching up, they are still quite affordable. So, now is the time to take advantage.
  3. No state income tax. One of the best things about living in Florida is the state does not have an income tax. So, hard-working homeowners keep more of what they earn.

Boynton Beach Cost of Living

The Boynton Beach cost of living is far more affordable than one would suppose. It actually performs well, particularly when compared to other highly desirable markets. Located in Palm Beach County on the east coast of the Florida peninsula, Boynton Beach boasts a population of nearly 74,000 residents. And, you could be one of them. Imagine living in a subtropical paradise where the winters are ultra mild, the spring and fall seasons purely delightful, and the summers toasty warm. No, it’s not an out of reach dream, it can easily become a reality. So, let’s take a look at the cost of living in beautiful Boynton Beach.

Boynton Beach Cost of Living

Boynton Beach is home to Gulfstream Park, the Schoolhouse Children’s Museum, Mangrove Park, and Harvey E. Oyer Jr. Park. It’s actually part of the Miami Metropolitan area, meaning professional sports franchises, like the Marlins, Heat, Dolphins, and Panthers are just around the corner to enjoy baseball, basketball, football, and hockey.

What’s more, Boynton Beach not only offers some of the best weather in the country, and it’s not only nearby the Florida Keys, it’s also surprisingly affordable, over all. Below is the cost of living in Boynton Beach.

For comparison, the national average scores 100. So, anything above that is a bit more expensive and anything below is less expensive.

 

  1. The cost of utilities in Boynton Beach is less expensive than the national average, coming in at 98.
  2. Healthcare. Boynton Beach health care costs are slightly above the national number, scoring 103.
  3. Miscellaneous expenses fare just as well in Boynton Beach, with a score of 104, not much more expensive than the national figure.
  4. The cost of food in Boynton Beach is 107, so it’s really not much more than the national number.
  5. The cost of transportation in Boynton Beach is close to food, coming in a 109.
  6. In Boynton Beach, the cost of housing scores just a bit above the national average, at 115.

 

Elaborating a bit more on the cost of housing in Boynton Beach, the median home cost comes in at $240,700. That’s still quite affordable, particularly when compared to some of the nearby markets in the area.

As you can see, the cost of living in Boynton Beach puts it well within reach. Offering such great weather, a warm climate, affordable housing, plenty of outdoor recreation, and so much more, Boynton Beach makes for an ideal place to call home, indeed.

Boynton Beach Real Estate Market

 

Boynton Beach, located on the east coast of the Florida peninsula, is one of the best places to live in the Sunshine State. It’s home to the Schoolhouse Children’s Museum, Mangrove Park, Gulfstream Park, and Oceanfront Beach Park. It’s also home to approximately 75,500+ residents and more than 36,200+ households. The Boynton Beach residential real estate market is one which offers a number of choices. So, let’s take a look at the current state of the Boynton Beach real estate market.

Boynton Beach Real Estate Market

The Boynton Beach real estate market at this time is one that’s slightly in favor of buyers. While several other places on the peninsula favor sellers, Boynton Beach is more in-sync with buyers.

Presently, the median home value in the city of Boynton Beach is at $245,300. This reflects an increase in home values of 5.4 percent over the past year. And, market experts forecast Boynton Beach home values will again rise about 4.5 to 4.8 percent.

The median list price of Boynton Beach real estate is now at $160 per square foot. (This is lower than the price per square foot in neighboring Miami-Fort Lauderdale of $217.) While the median home price in Boynton Beach is at $269,000. The median home sale price in Boynton Beach is at $248,200.

For renters, the median lease per month currently stands at $1,850, also lower than in the Miami-Fort Lauderdale metro area of $2,100.Mortgage delinquencies and foreclosures are at near record lows in Boynton Beach. Presently, home loan delinquencies in Boynton Beach are a mere 1.4 percent, which is under the national average of 1.6 percent.

Boynton Beach home types include single-family houses, along with condos and townhouses. Floor plans range from modest two bedrooms, one bath up to three to five bedroom, two to three or more baths.

Reasons to Live in Boynton Beach

Right now, the Boynton Beach residential real estate market does favor buyers, which helps to keep home purchase prices lower. But, there other reasons to call Boynton Beach home.

One such example is there is no state income tax in Florida. So, you keep more of what you work hard to earn. The weather is also a huge perk, with super mild winters and wonderful spring and fall seasons. Plus, this makes outdoor recreation available nearly every day of the year. And, Florida is a business-friendly state which makes it attractive to employers and entrepreneurs alike. Of course, the scenery is another great element.

Palm Beach County Real Estate Market

Palm Beach real estate market is a very active one. And, it’s definitely demonstrated that dynamic over the past decade. Home to Palm Beach, Juno Beach, Belle Glade, Loxahatchee, Delray Beach, Palm Springs, and Lake Worth, the Palm Beach real estate market is quite diverse.

Here, the Palm Beach real estate market boasts a number of housing types. There are single family homes, condos, villas, and townhouses. Layouts are also varied, ranging from the cozy one bedroom, one bath, to two and three bedrooms, two and three baths. And, up to five or more bedrooms, with five or more baths. Here in Palm Beach County, there are beachfront properties, rural equestrian estates, golf home communities, as well as quiet suburban and vibrant urban areas.

Palm Beach County Real Estate Market

The Palm Beach real estate market is currently on a strong trend. Over the past several months, available resale listings have leveled off and even dropped. The result, a seller’s market, particularly at the beginning of 2018. (A seller’s market means inventory is tight and there are more active buyers than available properties.)

But, the trend will definitely move. Currently, the median home value in Palm Beach County sits at $236,900. Home values have increased by 6.3 percent just over the past year. Presently, the median price per square foot stands at $191. (This is actually less than the Miami Fort Lauderdale metro area, where it’s currently $214.)

At present, the median listing price in the Palm Beach real estate market is $349,000, with a median selling price of $273,700.

 

Relative to its neighbor, the Palm Beach real estate market is still quite affordable. And, it’s full of opportunities. There are primary residences here, of course, but also, property investors can easily find rental homes. It also makes a great location for a vacation home or a second home.

 

What’s great about Palm Beach County is its location. Located on the mid-southeast costs of the Florida peninsula, it’s northeast of the Everglades National Park and not too far away from the Upper Keys.

Palm Beach County is a great place to live, work, and play because of all it has to offer. Here, the climate provides super mild winters, spectacular spring and fall seasons, along with warm, balmy and breezy summers. Fish, sail, scuba, kayak, snorkel, beach bathe, soak up the sun, take in a show, go to a museum, or shop until you drop. It’s all here and waiting in Palm Beach County.

Broward County Real Estate Market

The Broward County real estate market is a complex one. Located in south Florida on the east coast of the peninsula, it’s home to thirty cities, approximately 2 million residents, all spanning across about 1,320 square miles.

The Broward County real estate market is made up of various types of housing. These include single-family homes, townhouses, condos, villas, and more. Floor plans range from the modest one bedroom, one bath, to five or more beds, with five or more baths. Here, there are an entry, starter homes, and luxury homes, along with luxury estates.

Broward County Real Estate Market

The Broward County real estate market is also home to Fort Lauderdale, Deerfield Beach, Pembroke Pines, Pompano Beach, Coral Springs, Sunshine Acres, and more.

In recent years, the Broward County real estate market has experienced several transitions. Just last year, there was a real shortage of available housing listings. Which of course, drove prices up. The Broward County median home value sits at about $249,000, with a median listing price per square foot of $187. (That’s actually lower than nearby Miami Dade. Or, the Miami-Fort Lauderdale metro area of $214.

The median listing price in Broward County hovers at around $299,000, with the median selling price at $252,000. But, there are certainly homes which lay outside those figures, priced less expensively and of course, houses priced much higher.

People come to live in Broward County because of its many employment opportunities. It’s a rich mix of metropolitan, suburban, and rural communities. What’s more, it’s very attractive because the cost of living is lower than in other parts of the country, particularly the big cities in the northeast and those out on the west coast.

Furthermore, there is no state income tax. Which means residents keep a whole lot more of what they earn. And, it’s a very business-friendly state. Additionally, it boasts a beautiful climate. Super mild winters, gorgeous spring and fall seasons, and balmy but breezy summers.

What’s more, there’s something for everyone and it’s possible to recreate outdoors just about every day of the year. Take a weekend trip down to the Keys, boat, fish, kayak, sightsee, or spend a day at the beach. There are plenty of entertainment options, complete with casual come as you are dining options up to white cloth, fine dining experiences. Even better, there is no shortage of entertainment, both outdoors and indoors. See a concert, enjoy a museum, or explore the Everglades.