Archive for April, 2012

Happy Easter!

April 8, 2012

Happy Easter to All!

Enjoy your time with family and friends on a beautiful day.

David Henke
Long & Foster Real Estate Inc – Bear, DE/Devon, PA
Office: 302-834-3431/Direct: 610-618-0808
www.DelawarePAHomes.com  


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New Castle County Homes Sales Activity Report

April 7, 2012

Inventories drop and activity rises as home prices fall to a more sustainable level in New Castle County DE.

After seeing a rise in listing activity in 2010 with stable pricing leading to reduced sales, we saw the area’s home sales activity begin to rise in 2011 as prices and inventories began to fall – particularly at the end of the year. The data below illustrate the last few years of activity both for all of New Castle County and the Brandywine/North Wilmington area in particular.

New Castle County:
For 2012 Year To Date:
Year:  Homes Listed | Homes under Contract | Homes Sold
2012:         :
2301                     1484                          1122
                       
Average Home Sold for $195,000 in 95 Days
For the entire Previous Years:

2011:        :8568                 4708(54%)                 4404(51%)
                        Average Home Sold for $218,000 in 94 Days
2010:        :9795                 4322(44%)                 4247(43%)
.                       Average home Sold for $242,000 in 80 days
2009:        :
9351                 4939(52%)                 4794(51%)
.                       Average home Sold for $240,000 in 79 days

For Brandywine/North Wilmington:
For 2012 Year To Date:
Year:  Homes Listed | Homes under Contract | Homes Sold
2012:         :
280                     228                            170
                       
Average Home Sold for $222,000 in 96 Days
For the entire Previous Years:

2011:        :1234                  755(61%)                  754(61%)
                        Average Home Sold for $252,000 in 91 Days
2010:        :1442                 721(50%)                 694(48%)
                     Average home Sold for $269,000 in 74 days
2009:        :
1231                 774(62%)                  762(61%)
.                       Average home Sold for $272,000 in 72 days

Unlike previous years, sales activity has been strong enough to avoid the normal build up in inventory that one often sees during the beginning of the year. Buyers are taking advantage of the recent decline in prices and continuing low interest rates to buy at the current lower prices. This has also allowed sellers to sell fairly quickly, if priced aggressively, providing some flexibility to move up or down in the market.

We have not seen this activity uniformly across the area. Some areas and neighborhoods continue to have an abundance of available properties so pricing should continue to be fairly stable throughout the area.

As always, if you are thinking of a move and would like more details on the market values in your area, please do not hesitate to contact me anytime for a market update or a complete complimentary market analysis for your home.

David Henke
Long & Foster Real Estate Inc – Bear, DE/Devon, PA
Office: 302-834-3431/Direct: 610-618-0808
www.DelawarePAHomes.com  

(All statistics per the TrendMLS System and believed accurate but not guaranteed)