Located in Palm Beach County, Delray Beach with its beautiful surroundings provides a strong allure for intending condo buyers. However, its real prospects for successful sales may not be equal to its picturesque presentation. A 2017 forecast released by the National Association of Realtors via Realtor.com has ranked South Florida, No. 71 with a sales volume increase of 4.17 percent and a price increase of 3.98 percent. That comes behind a forecast sales growth of 6.3 percent and price gains of 5.8 percent in the Top 10 markets comprising Los Angeles, Sacramento, and Phoenix among others. Despite this seeming downtime heralding the start of the New Year, Modern Living, a real estate company which covers construction in six cities including Delray Beach has plunged early into sale offers of new ultra-luxury condos in the 14 beach communities.
Del Ray Delray beach Gulf Stream in Florida USA
Units Specifications and Other Considerations
For Modern living Real Estate company, the condo for sale in Delray Beach present general custom finishes such as wood floors, granite countertops, custom cabinets, and impact windows among other features. In Cannery Row, the 3-story buildings contain 4 units with each unit having 3 bedrooms, 3 full and 1 half baths. Brent Enck, a Broker Associate at Modern Living describes Cannery Row as: “The Most Fun Small Town in America” in regard to its strategic nearness to shops, restaurants, and nightlife.
For the more conservative, Coda – a gated townhome community with 2-car garages offers elegant Bermuda architecture with wide balconies, high ceilings, and plenteous windows. Each unit presents 2-3 bedrooms and 2.5-3.5 baths. One of Coda’s major attractions includes its proximity to Delray Beach Tennis Center, renowned restaurants, and the beach.
Condos for sale in Delray Beach are likely to do better because the area has a strong opportunity for job creation and a high population growth. On the other hand, there is the opinion that some parts of South Florida, such as Palm Beach County where Delray Beach is situated, are mainly marketed for older buyers. This assertion is supported by Jonathan Smoke, a chief economist who says: “We aren’t seeing as much evidence of the young, first-time home buyer in Miami as we are in other markets.” However, with Modern Living covering the diverse 14 communities in Delray Beach, they are bound to offer condos for sale with options for both the younger and older targeted buyers.
Pricing and Affordability
Modern Living Real Estate sale prices for condos in Delray Beach are of a mid to high range. On the lower range, Cannery Row offers present: $635,000 – $915,000 while Coda has only one building for sale at $589,000. This limited availability is bound to make for competitive bids as time lengthens over the offer. On the higher range, Village Grande of Delray Beach offers condos for sale from $1,025,000 to 1,275,000. Naturally, the more expensive the condo is, the more luxurious options it offers.
For the real estate sellers, the value of the U.S dollar will be an important factor in sales success since an increase in value over other foreign currencies will result in a decrease in international sales. This is crucial because Delray Beach is a core vacation location or second home to foreigners. The concern with interest rates is one shared by both seller and buyer. Therefore, regulations by the federal government on housing and real estate will be a major determinant of successful sales in 2017.
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