Delaware real estate is beginning to settle in under about the $300,000 mark. There are still over priced listings in that market segment, but things are moving. Above $500,000 is still a little tougher and a lot of that is due to the financing regulations for Jumbo Loans. I think in New Castle County we are in the calm before the storm as there is so much pent up demand to buy as well as the demand to sell. Many buyers put the breaks on when the expanded tax credit was announced and they realized they had more time and didn't have to rush right into anything.
As of 12/29/09 there are currently 168,633 pending sales (uder contract) in New Castle County, 46,844 in Kent County and 8,524 in Sussex County. These numbers come from Trend MLS. The north east United States is typically the last area to fall when the market cycle goes in that direction. I think we are pretty much in a "safe zone" now, in other words the prices aren't going to move downward too much more. You never know where the bottom is until you see prices start to rise again! Below are a couple of current listings for sale, one in Pike Creek Valley and the other in the Newport area.
Find a good Realtor® to represent you whether buying or selling Delaware real estate. You can get educated pretty quickly and get yourself in gear for you new home. If you're new to the area, there are lots of great Delaware Valley Resources to enjoy! Delaware real estate is affordable and timing is great right now! Great interest rates, lower prices and nice tax advantages!
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