The Newport DE (Zip Code 19804) real estate market is following the trends seen throughout the area with both home prices and activity easing.
Although centered on Newport, zip code 19804 actually encompasses parts of three separate communities with the US Postal Service recognizing Stanton, Newport, and Wilmington as acceptable addresses. The Zip itself is bounded by the Christina River and White Clay Creek to the south, the old B&O freight railroad line to the north, the City of Wilmington to the east, and includes the Delaware Park Race Track to the west. According to the public records, this area includes over 6200 residential properties.
Newport has a long history beginning with its first land grant in 1641 and was first developed as a port and trading area beginning in the 1730s. This growth took advantage of both its access to the river and its location as a stage stopover on the Old King's Highway. Newport saw the creation of one of the first post offices in the United States and later became a terminus of the Newport-Gap Pike. Newport was formally incorporated as a town in 1873.
Over the years, as Wilmington grew and rail lines developed, Newport's importance in trading declined and development turned to more commercial and manufacturing growth. Over the years, the area has seen a wide range of industry from tanning and fertilizer to automobile and chemical production. GM manufactured cars in the area from 1947 through 2009 at its Boxwood plant, and Fisker announced plans in 2009 to begin electric automobile production at the same facility.
Today, Newport lies just to the north of the major I-95 interchange connecting with I-495 to the north and I-295 to the Delaware Memorial Bridge and New Jersey. Route 141 and Route 4 run right through town and it is just moments from the Kirkwood Highway, the Dupont Highway/Route 13 and Route 1 heading toward the beaches. These roads provide immediate access to Wilmington, Newark, and New Castle while also affording easy travel to the beaches, Baltimore, and north into Pennsylvania toward West Chester or Philadelphia.
The 19804 Zip code encompasses a wide range of housing choices.These include single family homes, twins, rows, and apartments of every age and style. As seen throughout much of the area, both housing prices and sales activity have been declining recently.
Prices peaked in 2007 when the average home sales price reached $203,000. Since then, the average prices fell to $187,000 in 2008, $183,000 in 2009, $171,000 in 2010, and to $149,000 so far this year.
Home sales activity in zip code 19804 has followed the same trend. Activity peaked in 2005 and 2006 when sales reached 273 properties each year. This activity then fell to 243 completed sales in 2007, 185 in 2008, 168 in 2009, 138 in 2010, and 77 this year to date. These numbers represent a 26% decline from peak prices and 43% decline from peak sales activity. In detail:
Zip Code 19804 Real Estate Activity:
Year: Homes | Avg Price |
Active: 112 $175,000
Pending: 23 $145,000
Sold 2011: 77 $149,000
2010: 138 $171,000
2009: 168 $183,000
2008: 185 $187,000
2007: 243 $203,000
2006: 273 $192,000
2005: 273 $175,000
With its ideal central location, Newport and all of Zip Code 19804 should continue to be a prime destination for both home owners and businesses. Combined with its easy access to shopping, entertainment, and all the regional major metropolitan areas, Newport and the surrounding zip should continue to be a great choice for years to come.
Long & Foster Real Estate, Inc
Wilmington DE/Devon PA
Direct:610-618-0808 - Office:302-834-3431
(All statistics per the TrendMLS System and are believed accurate but not guaranteed)