May home sales and prices were up from a year ago in Kent and New Castle counties, Delaware.
Figures from the Trend Multiple Listing Service showed the average sales price in New Castle County heading toward $220,000, with Kent seeing prices rising above $200,000. Trend’s market area includes the Philadelphia area and suburban areas, as well as Kent and New Castle County.
The average number of days homes were on the market fell by more than a week in New Castle County to 24.5 days, or less than half the figure for Kent County.
The sharp reduction in the number of days homes are on the market could lead to higher prices. Real estate brokers are beginning to take note of a lack of listings, the one exception being the $600,000-plus range and up in some areas.
Sussex County, covered by the Sussex County Association of REALTORS having been the hottest area for home sales for a long period, has seen a slowdown, perhaps a reflection of lower inventories in some price ranges. “There is a definite inventory shortage of the type of homes our clients want to buy at a price they can afford,” according to Kathy Sperl-Bell, Broker/Owner of Active Adults Realty.
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Read the entire article at http://delawarebusinessnow.com/2016/06/homes-sales-prices-increase-in-may/