Sussex County remains strongest in the DE home sales market

This article in the Delaware Business Daily is worth sharing… writer Doug Rainey posted that Sussex remains strongest in the DE home sales market ahead of Kent and New Castle counties in Delaware.

Sussex County was the strongest market up 3% in homes sold, while Kent and New Castle saw a 12% decrease in the number of sold homes for the Q1-2014.

AAR Welcome to DEThe article goes onto say that figures from multiple listing agencies showed a mixed performance in the home sale market in the first three months of this year.

Sussex County was the strongest market with a 3% increase in the number of sold homes compared to 2013 and a 0.6% dip in the median sales price from $236,439 to $235,000. The number of homes that went under contract in the first quarter of 2014 decreased 4% from 2013.

Editor’s note: “This is good news for Coastal Delaware where sales of both new and existing homes have been very strong this year. Delaware doesn’t get much coverage on the national news and the strong market in Sussex County never makes the headlines on CNBC.

These numbers reported to Doug may not tell the whole story however, since many new home sales are not reported through the multiple listing services. Tax records can take as much as 3 or more months to accurately reflect all transfers.” –Kathy Sperl-Bell, Broker

New Castle County appeared to be the weakest county with figures indicating that New Castle County saw a 12% decrease in the number of sold homes for the Q1-2014 compared to last year and a 6% increase in the median price of sold homes to $190,000. The number of homes that went under contract in the first quarter of the year decreased 13% from 2013.

Neighboring Kent County matched New Castle’s rate of decline in the number of sold homes compared to Q1-2013, with an 11% increase in the median sales price from $165,000 to $183,900. The number of homes that went under contract in Q1-2014 increased 10% from 2013.

To read the entire article CLICK HERE or COPY and PASTE the following link into your browser. http://delawarebusinessdaily.com/2014/05/sussex-remains-strongest-home-sales-market