While typically the second quarter market stats see a decrease in home values, for the first time since 2007, prices have been on a consistent rise.  This will greatly benefit you when selling your Wilmington, DE home.  The real estate market is showing a steady increase that does not appear to be stopping any time soon.

Based on reports from Zillow's Home Value Index homes have increased in value by .2 percent from this time last year. That is approximately $150,000 per home. This shows that not only are people buying homes, but they are willing to spend the appropriate amount of money on them.  Although prices are increasing, reports also show that they will level off after the mortgage settlement and are not predicted to drop again.

While home prices are on the rise, foreclosures appear to be on the decline. With record low mortgage rates, people are able to stay current on their payments and avoid the foreclosure process.  Currently reports say that about every 5.8 out of 10,000 homes are foreclosures. Since January of 2012 every month has seen a decline in the amount of foreclosed properties.

Selling your Wilmington, DE home will be much more appealing now that prices are starting to go back up. Pricing your home at an appreciated price will help not just your finances but also the entire real estate market. 

Predicting a 1.1 percent increase going into 2013, the market is showing a steady increase.  Throughout 2012 every month has seen growth from the year before. Despite a slight lag in job growth, the real estate market is still going strong as people buy homes and are willing to spend more money on them.

If you have any questions regarding the real estate market, feel free to ask. Also, if you or anyone you know is interested in buying or selling Wilimington, DE real estate, contact me! I look forward to speaking from you.

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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