Home sales post gain in May

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Home sales activity rose in May.

Figures from the TREND Multiple Listing Service showed total sales during the month in New Castle County rose to 662 compared to 625 a year ago in May.

TREND covers two of the state’s three counties, with Sussex County brokers operating their own system. However, MLS systems in the region including Sussex, are merging into the Bright system. Bright will include MLS services in a large area of the Mid-Atlantic.

Sales in Kent County were essentially unchanged from May 2017 at 193.

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The average sales price in New Castle County rose to $225,000, from $216,500 in May 2016.

In Kent, the average sales price rose $215,000, compared to $205,500 during May of last year.

The average number of days homes in New Castle County remained on the market stood at 25, unchanged from a year ago. In Kent County, the number of days figures dropped to 54, compared to 61 in May of 2016.

The home sales market has heated up here and elsewhere.

However, sales prices in Delaware have risen at a figure below the national average, a reflection of factors ranging from sluggish growth in higher paying jobs to the First State having one of the nation’s highest foreclosure rates.

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