The pace of New Castle County Home Sales has eased from the pace in last two years but continues to be solid.
Today there are 2,583 properties currently listed for sale in New Castle County with an additional 939 under contract. The average list price of those properties listed in June was $267,000 versus a year to date average list price of $257,000. There have also been 2444 completed sales with an average sales price of $225,000.
On July 2 of 2013, there were 2,354 properties for sale, 1028 under contract, and 2565 homes had been sold. The average list price for the first six months of 2013 was $240,000 while the average sales price was $221,000.
The 2014 numbers represent an increase of 229 properties on the market (+9.7%), decrease of 144 homes under contract (-14.0%), and decrease of 121 properties sold (-4.7%).
Though weaker, the overall numbers appear fairly solid for New Castle County considering the weather and overall state of the economy. Expecting a stronger market, sellers are asking more, but the completed sales prices indicate a fairly stable pricing environment (up less than 2% year to year).
Based on the current market conditions, it looks like we will be seeing more of the same as we continue through 2014. As always, don't hesitate to contact me anytime with questions.
Long & Foster Real Estate, Inc - Wilmington, DE/Devon, PA
(All statistics per the TrendMLS System and believed accurate but not guaranteed)