Deerborne Woods Newark DE Homes Update

Deerborne Woods continues to be a desired development with stabilizing pricing and sales activity.

**** Be Sure to Check Out the Deerborne Woods Open House****
****This Sunday from 1-3****

Deerborne Woods is located south of I-95 just south of Old Baltimore Pike, west of Route 896, just before the Maryland State Line. The community contains approximately 190 single family properties per the tax records and the homes were built between 1999 and 2006. Most of the houses are 2 story 4 bedroom Colonials with between 2200 and 2700 square feet. Properties in the community range from approximately 2000 to over 3000 square feet. Deerborne Woods is in the Christina School District.

Recently, Deerborne Woods has continued to see fairly strong home sales activity while the fall in prices appears to be leveling out. Resale prices peaked in 2006 and 2007 when the average sales price reached over $390,000 with 12 sales each year. Since then, sales prices have been declining. In 2008 the average sales price dropped to $367,000, in 2009 to $346,000, in 2010 to $347,00, and in 2011 to $316,000. In 2012 the average sales price has settled at $310,000 with 5 sales year to date. There are also 3 properties currently on the market with prices ranging from a $269,00 to $399,000.

With a great location, newer homes, and stabilizing sales and prices, Deerborne Woods appears to be in a great position for long term stability and growth. Buyers should be sure to consider the community in any search in the area.

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

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