Higher home prices, slower sales noted in October real estate report

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According to a report from the Delaware Association of Realtors, the state’s home sales market “presented a blend of both positive and challenging trends.”

Homes were selling a bit faster compared to September. The market also saw a modest increase in new listings, a positive sign for those seeking a variety of home choices. However, the number of homes sold decreased, a continuing trend.

Property values in Delaware continued to increase. Both median listed and sold prices showed increases.

“This is a positive signal for homeowners and investors alike, showing strength in the market despite the decrease in sales volume,” the report stated.

An encouraging sign came from the rise in pending units and a small increase in active inventory, offering more opportunities for buyers. These trends suggest a dynamic market that’s adapting to the needs of buyers and sellers.

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While there are fewer sales, the increase in listings and pending units, along with the steady rise in property values, indicates a healthy market, the report noted.

A comparison of the October 2022/October 2023 data is provided in the chart below. For county data, visit our website.

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