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New Wilmington DE Real Estate Market Stats

Thursday, April 16, 2015
by Katina Geralis

Now that the spring season is officially here and the busy real estate market buzzing with buyers ready to find their dream home, it's time for an update on the status of the real estate market in Wilmington and Newark, DE in New Castle County!

For the first quarter of 2015, there were 2,288 homes for sale with an average sales price of $223,881— a figure now up +5.3% from this time last year. 1,104 homes sold within the first quarter in New Castle County—an increase of 15.8% from last year—and area home sellers are reported to have received 93.1% of the original price at closing.

Inventory in the area is still trending lower, with the first quarter showing inventory at a 5 months supply— 7.2% lower than last year's inventory during the same time. 

These updated market statistics provide just a brief snapshot of current levels in the local real estate market, so 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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10 Reasons to Retire in Delaware!

Thursday, November 1, 2012
by Katina Geralis

When the subject of relocating for retirement comes up, most people assume the top choices are sunshine states in the far South and West. But if you do your homework, you'll find that one the top states for retirement is the "First State" - Delaware!

In fact, we have an excellent selection of Active Adult home listings on the market in Newark and Wilmington. New developments are under construction, and there's a wide range of prices and amenities for just about any budget.

Why do so many seniors and retirees choose Delaware? Here's a quick rundown that I put together from Kiplinger's recent article, along with local data:

1. There is no State or local sales tax.

2. State income tax rates are modest; highest rate is 6.75% on annual incomes over $60,000.

3. Social Security benefits are not taxed.

4. Taxpayers 60 and older can exclude $12,500 of investment and qualified pension income.

5. Homeowners 65 and older can get a credit equal to half of the school property taxes, up to $500.

6. The DE property tax rate is significantly lower than MD, NJ, PA, NY, and VA.

7. Baltimore, Philadelphia, Washington, D.C. and New York City are within an hour or two's drive; accessible without being too close to the congestion.

8. The University of Delaware offers a Higher Education for Senior Citizens program. Citizens 60 years of age or older, who are formal degree candidates, may attend classes for credit tuition free.

9. There's ample history to explore in Delaware - we've been making history since 1787!

10. Recreational opportunities abound, with ample beaches, parks, wildlife areas, golf courses, performing arts venues, dining, shopping, gaming, and more!

Don't just take my word for it - visit Delaware for yourself! If you are considering relocation, the communities of Wilmington and Newark have much to offer, and I would be happy to show them to you. You can also explore our beautiful homes for sale and compare the broader market to the unique advantages of a 55+ residential community.

As your professional Wilmington and Newark, DE real estate agent, I have the local expertise and dedication to service that will make your relocation experience a smooth transition. You can trust my professional guidance to help you find the right home within your budget, and respond to your needs!

For more information about Delaware homes and our wonderful communities, please contact me today!

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