As 2023 ended, the Delaware home sales market saw a double-digit increase in new for-sale listings, the Delaware Association of Realtors reported.
Units sold saw a 9% dip. However, the value of homes continued upward, with median listed and sold prices growing by 5.76% and 5.58%, respectively.
“This resilience in property values underscored a market where the worth of homeownership remained appreciated,” a Realtors group release stated.
Pending sales increased 5% in the last month of the year, and the active inventory increased 10%. The average number of days on the market remained steady, indicating that the sales pace was consistent with previous months.
The realty group stated that the Delaware housing market in December 2023 closed on a robust note, marked by increased listings and steady property values.
“I applaud the balanced and stable real estate climate reflected in these numbers— a testament to the strength of our market”, said DAR President George Thomasson.
Still, the market here and elsewhere has been characterized by a shortage of homes for sale. That has kept prices up. At the same time, higher interest rates have taken some would-be buyers out of the market. More homes for sale listings could eventually put more downward pressure on prices
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