A report from Patterson-Schwartz Real Estate shows a stronger market in Kent County in the first nine months, with Sussex County sales perhaps affected by lower inventory.
Patterson-Schwartz is Delaware’s largest residential brokerage firm.
According to the report, sales in the county were up 5 percent, with the median price up 3 percent. The number of homes under contract in the first nine months of 2014 increased 11 percent from 2013.
New Castle County, according to the report saw a 6 percent drop in home sales in the nine-month period when compared to the sale period in 2013, with a 4 percent increase in the median price of homes sales prices.
The number of homes that went under contract in the first nine months of the year decreased 5 percent from 2013.
Sussex County, after seeing more strength than the state’s other two counties posted a 4 decrease in home sales compared to 2013 and a 1 percent increase in the median sales price from $238,000 to $239,950.
The number of homes that went under contract in the first nine months of 2014 decreased 6 percent.
Sussex has seen a decline in its home sales inventory after a strong sales period, while New Castle County’s for sale inventory has risen. Kent’s inventory is up slightly. Sussex and to a lesser extent Kent County are also seeing more retirees who relocating to the state, thanks, in part, to lower property taxes and a lower cost of living that in areas such as Washington, D.C. and portions of New Jersey.
Southern Chester County saw a 3 percent increase in the sold homes in the first nine months of 2014 compared to 2013 and a 6 percent increase in the median price of sold homes, from $321,500 to $340,000. The number of homes that went under contract in the first nine months of 2014 decreased 1 percent from 2013.
Cecil County, Md. saw a 1 perent increase in home sales, with a 4 percent increase in the median sals price. The number of homes under contract rose by 3 percent. The home sales figure are compiled from area multiple listings services. Including TREND, which covers most counties in the region, with the exception of Sussex and Cecil.
Home sales are still affected by difficulties in obtaining financing among some consumers. On the plus side, interest rates remain low.
Investors have also been active in the market, making all cash deals for some homes. In some areas that has frozen out some buyers looking for homes in need of renovation
.
