Delray Beach Homes

For the month of October we've seen more listings sold and more go under contract. This has reduced the month's supply of homes to 6.5 which is technically still a buyers market. Homes took longer market days to sell and the number of active listings increased.

Two bedroom two bath golf community condo in Gleneagles Country Club, Delray Beach listed for $220,000. Updated 5" plank flooring throughout. New carpeting in bedrooms. Recently installed stainless steel appliances including refrigerator, stove top oven, microwave and dishwasher. New A/C unit in 2024. Amenities include two 18-hole championship golf courses. Tennis and pickleball complex, Main clubhouse with pool, 3 dining options, full sized gym, spa and card rooms. Gleneagles is a mandatory membership community that requires new member capital contribution and annual fees.

Don't let the financial headlines scare you. We are not in the same situation as in 2008 when the real estate market was the reason for the recession. Banks then relaxed loan requirements which led to massive foreclosures and bank failures. Banks are in a better financial position today because of the changes to loan requirements and funding they must now keep on the books. This recession is driven by too many dollars chasing too few goods, a war, supply chain issues and a changing employment market.