The numbers are in for May, 2018 in the New Castle County, Delaware real estate market. Hey home sellers--it is safe to come out of hiding now! Yes, mortgage rates are climbing and now have reached 10 year highs. But if you are planning to make a move to a new location and waiting for the rates to come down--that's probably not going to happen.
So it's time to look at the numbers for New Castle County for the last month and see how your present home could be the hot property that buyers are looking for. New listings are down 5% over the same period as last year. I think it is time to contact Carolyn Roland, Your Older and Historic Homes Resource and find out what this market has done to the value of your home!
In May 2018, the median price of a home in Northern Delaware is UP 4.4% over May of 2017. And there is competition out there, which, in some cases, has led to bidding wars. It may be driving appraisers up a wall, but I feel it is good news for sellers.
And what about buyers? I feel those prices are going to keep going up, so there is no time like the present to contact me and find out how you can use this news to your advantage. (photo is home that has already SOLD)