Here we are when it is officially fall, with temperatures in the 80's and 90's. It is time to review the real estate market in New Castle County Delaware for the first 8 months of the year.
As you can see, for August, listings were down 5%, and total residential properties were down almost 20%. The good news is that those houses are selling. Closed sales are up almost 19% over the same time last year, although pending sales are up only slightly.
As far as the year to date numbers, New listings have been up almost 4%, while both closed and pending sales are up about 14%. Median sale prices however, are not budging from last year's figures.
Has it been the hot weather that's keeping those prices low? It certainly can't be because we are surrounded by a lot of dried up lawns, because we have been getting a generous amount of regular rain. In fact, I have not had to water my lawn at all this summer. My flowers, however, have been demanding water sometimes twice a day and threatening to wilt away! (picture is Rodney Square in downtown Wilmington)
For more information on the real estate market, contact Carolyn Roland, Your Older and Historic Homes Resource.
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