Real Estate Year in Review in Coastal Delaware

How can I tell you just how much better the real estate market is here in Coastal Delaware? Let me count the ways. I can tell you how busy we were showing properties to new clients and writing contracts on both new and resale homes. But when I show you the numbers for all of Sussex County, you’ll see that we weren’t the only ones busy. Numbers don’t exaggerate. In 2012 residential property sales were up 28% over 2011!

  • 3618 residential properties sold by REALTORS in Sussex County Delaware in 2012 vs.
    • 2817 in all of 2011
    • 2699 in all of 2010
    • 2427 in all of 2009
  • 3893 – Inventory of homes by the end of December 2012 vs.
    • 4714 at the end of 2011
    • 4833 at the end of 2010
    • 4948 at the end of 2009
  • Prices began to rise in 2012 and sold at an average of 95.1% of List Price vs.
    • 93.6% in 2011
    • 93.6% in 2010
    • 92.2% in 2009

Even interest rates are beginning to rise but that’s an article for another day. If Delaware is in your future, 2013 might be the perfect year to make that move.