If you are looking for good news about real estate in Northern Delaware, be prepared to look at the following with your "positive attitude" hat firmly in place.
If you are a potential home seller, compare the numbers for this past December to the previous year. Seven percent fewer homes were on the market, which means that buyers are starved for homes to buy.
If you are a buyer looking for a home, the median sales price was $218,700, compared to $225,000 a year ago. And interest rates are still under 5%, which makes it historically still great news. Through the last 20 years, rates for a 30 year fixed rate mortgage ranged from 7.29% to 7.73%. The peak year was 2000 with a rate of 8.64%.
So the good news is that you need to evaluate your family's situation--is it time to buy a larger home, time to move to your dream location, time to downsize to a condo or over 55 community? These are the yardsticks you should use to help you make a decision to buy or sell a home.
Should you buy or sell now? Contact Carolyn Roland, your Older and Historic Homes Resource for Delaware and Southern Chester County, Pennsylvania.
View Carolyn Roland's profile
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