New Wilmington DE Real Estate Market Stats - Q2
It's that time again! With the busy summer season in full bloom and home prices, mortgage rates and the number of motivated buyers in the market all on the rise— we're back with an update on the status of the real estate market in Wilmington and Newark, DE in New Castle County!
The second quarter of 2015 saw 2,609 homes for sale with an average sales price of $245,742— now up nearly 6 percent from this time last year! 1,705 homes sold in the second quarter in New Castle County—an increase of 13.4% from last year—and area home sellers are reported to have received 95.2% of the original price at closing— a figure also up .2% from last year!
As we reported in the first quarter, inventory is still trending on the lower side. The second quarter pegged inventory at a 5.3 months supply— 15.4% lower than last year's inventory during this period.
Remember that the real estate market is ever-changing and these updated market statistics provide just a snapshot of current levels in our area. Do not hesitate to reach out to us if you have questions about homes for sale in the Greater Wilmington DE area! The top-ranked KG Home Team is here to help with any of your needs from finding your dream home to relocating to selling your current property.
We look forward to hearing from you!
Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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When you consider the costs across time—the average interest rate and mortgage payment—you will find there is no better time to become a homeowner than right now! With mortgage rates hovering around 4 percent, your monthly payment could be less than the cost of renting!
