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Wilmington DE Area Real Estate Market Stats

Thursday, January 9, 2014
by Katina Geralis

 

 

These stats should be helpful for those looking to purchase Wilmington homes for sale or Newark, DE real estate this year! Ready to begin your Wilmington, DE home search? Let us help you discover your real estate options and move closer to purchasing your next home— we even offer FREE first-time homebuyer seminars! 

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Housing Predictions for Wilmington Real Estate in 2014

Thursday, December 26, 2013
by Katina Geralis

The local Wilmington DE real estate market saw an improvement in 2013, with housing prices improving, more homeowners gaining positive equity in their homes, and builder confidence on the up and up. Forbes recently released a list of predictions for the coming year and as it turns out, 2014 will be another great year for real estate in the Wilmington and Newark DE area. 

More Inventory
2013's housing market saw a shortage of homes for sale in Wilmington and going forward, homebuyers will see a change in inventory numbers. According to Realtor.com, inventory has been softening since February and will continue to do so in 2014. "New construction and rising prices should bring more homes, both new and old, on to the market in 2014, helping inventory return to traditional levels," the industry insider reported.

Mortgage Rates Will Increase
Mortgage rates have been seen rising in Wilmington real estate and will continue to increase. In fact, by the end of 2014, mortgage rates will be hovering around the 5 percent range— but homebuyers should note, rates near 5 percent are still relatively low. In Forbes' list of housing predictions, a prediction is included from Zillow which suggests "rates will hit 5% by the end of 2014–well up from the 4′s and 3′s of late, but still well within normal levels." 

Home Prices Will Rise
In 2014, real estate insiders Redfin and Zillow are predicting home prices will rise somewhere between 3 and 5 percent. This is a similar increase to what Wilmington homebuyers saw in 2013 where prices jumped 5 percent and in some hotspot areas in the country, more than 20 percent. This coming year, with mortgage rates increasing and more expensive home prices, the rate at which these prices climb will begin to slow and stabilize in local housing markets. This is also driven by more homeowners moving out of the underwater status in their homes and more new construction powered by builder confidence in the area.

Fewer Homeowners Will be Underwater
Again, more homeowners are regaining positive equity in their homes and this trend is set to continue through 2014. According to Realtor.com, "rising prices helped 2.5 million homeowners with underwater mortgages regain positive equity status during the second quarter of 2013," and while millions of homeowners are still underwater in their homes, that number will shrink significantly in 2014.

Ready to take advantage of the seller's market and sell your Wilmington home? Let us help you with your selling options and move closer to purchasing your next home— we even offer FREE first-time homebuyer seminars! 

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

How to Celebrate the Holidays in Wilmington, Newark DE

Thursday, December 12, 2013
by Katina Geralis

Annual Holiday Art Market
Through December 31, 2013; 11 AM to 3 PM Tues-Sun, 11 AM to 6 PM Thurs. and Sat.
Newark Arts Alliance, Newark DE

A great place to pick up last minute holiday gifts and creative bits for those on your list! Shop for locally-made art and crafts for holiday gift giving at this FREE Newark event. All art by local artists is guaranteed to be unique and to make your loved ones feel special. There will be 11 artists selling jewelry, mosaics, felt ornaments, photography, watercolors, handweaving, fiber art, pottery, tie dye and batik and window ornaments. A portion of the proceeds benefits NAA programs. 

Santa Claus Express
Through December 22, 2013; 12:30 PM and 2:30 PM
Wilmington and Western Railroad, Greenbank Railroad Station
Wilmington DE

Why stand in line at the mall and wait to see Santa when you can ride the train and have Santa come to you? The Jolly Old Elf himself rides the train and greets everyone on board and gives all children a chocolate treat. PLUS he may even bring Mrs. Claus with him! Be sure to bring the camera and have Santa pose for pictures with your child during this 1½-hour round-trip to Ashland. This event is powered by one of the railroad's antique steam locomotives. 

The Sound of Christmas
December 14, 2013; 8 PM
Grand Opera House, Wilmington DE

A festive opportunity to listen to the sounds of the season at Grand Opera House in Wilmington. Come enjoy familiar songs of the holidays starring Elisabeth von Trapp, acclaimed granddaughter of the "Sound of Music" family, with the Carolina Brass.

Christmas Brunch at the Rail
December 22, 2013; 10 AM to 2 PM
White Clay Creek Country Club at Delaware Park
Wilmington DE

Reservations are required for this special holiday brunch in Wilmington. There will be special performances by "The Yuletide Singers" to give the event a festive flair at 11 AM, Noon, and 1 PM. Guests can also partake in pictures with Santa and Mrs. Claus from 10 AM to 2 PM.

The Nutcracker at the DuPont Theatre
December 21 and 22, 2013; Saturday 2 PM and 7 PM, Sunday 2 PM and 6 PM
DuPont Theatre, Wilmington DE

Presented by Wilmington Ballet Academy of The Dance, this holiday event is one for the whole family! Come watch this classic production of The Nutcracker, featuring New York City Ballet principal dancers and music by Wilmington Ballet orchestra and chorus.

The Nutcracker at The Grand
December 21 and 22, 2013; Saturday 2 PM and 7 PM, Sunday 2 PM
Grand Opera House, Wilmington DE

A second opportunity to enjoy this age-old production that's always a crowd favorite. At the Grand Opera House, First State Ballet Theatre will present its magical production of The Nutcracker staged by Kirov trained artistic director, Pasha Kambalov, and featuring spectacular dancing by the company's 22 professional dancers, beautiful costumes created in Russia and Tchaikovsky's beloved score.

Want to learn more about the Wilmington and Newark areas? Ready to begin your Wilmington, DE home search? Let us help you discover your real estate options and move closer to purchasing your next home!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

 

Why to Sell Your Wilmington Home This Holiday Season

Thursday, November 28, 2013
by Katina Geralis

Many homebuyers have the mindset that moving to a new home in the Wilmington or Newark DE area is a hassle during the winter months, but what they might not know is that buying real estate this time of year is actually beneficial! For home sellers, here's why you'll want to sell your Wilmington home before spring:

Serious Buyers
This homebuyers in the Wilmington DE real estate market this holiday season are serious about buying a home. You can be assured there will be less "looks" and more serious inquiries at this time of year as spring is technically where more homebuyers come out to simply begin their searches.

Less Inventory
During the holidays, there will be less inventory for homebuyers to choose from. And the lower the number of homes for sale in Wilmington, the more likely a serious homebuyer will be to choose your home from those available. 

All about the Homebuyer
When it comes to buying a home during the holiday season, homebuyers are more emotional which means they are more likely to become attached to a home that catches their eye. Some homebuyers are also interested in buying Wilmington real estate before the end of the year for tax purposes. It's all about the homebuyer this time of year! 

You Can Capture the Market
January is a time when many employees begin new jobs and you as a home seller can capture that market by having a home for sale during the next month. Also, due to the limited inventory of Wilmington homes, you can place a higher price tag on your home and expect to see a sale price at or close to that number. You as a home seller have power during the holidays.

Ready to begin your Wilmington, DE home search or sell your current home? Let us help you discover your real estate options and move closer to purchasing your next home— we even offer FREE first-time homebuyer seminars! 

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

Homes for Sale in Wilmington, Newark DE

Thursday, November 14, 2013
by Katina Geralis

Finding the perfect home in Wilmington DE can be challenging— especially if you have an extensive home feature wish list. Have you been searching for homes for sale in Wilmington DE or Newark DE? Let us help you with your homebuyer questions and make the right decision in purchasing Wilmington real estate. Below are a few homes for sale in Wilmington and Newark— take a look and contact us with any questions or to view more properties in the Wilmington/Newark real estate market. We even offer FREE first-time homebuyer seminars!


1402 Clinton St
Wilmington DE 
4 bedrooms | 3 bathrooms | 1 half bath
3125 square ft.

Price: $600,000

SUPER! City-Chic home loaded with updates & close to Rockford Park! Newer construction, contemporary floor plan w/over 3000 SF. Dramatic 2-story entry with turned staircase lead to formal Living Dining rm. Bright space w/tall designer windows, Hardwood floors throughout, track & recessed accent lighting. Spectacular Gourmet kitchen with upgraded cabinets, quartz counters, oversized island with 5-burner Dacor cooktop & breakfast bar, Dacor wall ovens; informal dining area with slider to lovely screened porch overlooking backyd landscaping & fenced yard. Adjoining cozy family room with woodburning fireplace. 

View Property



402 Saint Regis Dr
Newark DE 
4 bedrooms | 2 bathrooms | 1 half bath
2300 square ft.

Price: $315,000

PRICE REDUCED! Come see this BEST BUY in Chapel Woods! Colonial style home w/Contemporary design, situated on a private lot. Enter into the 2-story Foyer w/vaulted ceilings. Formal Living & Dining rooms feature NEW hardwood floors. Tastefully decorated w/neutral colors, abundantly bright and open floor plan. Kitchen features large breakfast room w/ NEW wrap around counter space and large pantry. Newer appliances include smoothtop range, dishwasher and microwave. Relax on the large, rear deck overlooking tall, mature trees and fully fenced yard. 

View Property



2 Michael Townsend Ct
Newark DE
4 bedrooms | 2 bathrooms | 1 half bath
2775 square ft.

Price: $399,900

Price REDUCED 20k! MASTERPEICE HOME located in the sought after Preserve at Lafayette! This gorgeous brick colonial features a dramatic 2-story foyer,9' ceilings and many special upgrades throughout. The open floor plan is perfect for entertaining. You will be captivated by cathedral ceilings, beautiful hardwood flooring, crown molding and chair rail that accentuate the home. The gourmet kitchen boasts upgraded 42" cabinetry, center island, Stainless appliances and Corian countertops. A separate family room with gas fireplace and a home office are added bonuses.

View Property

Want to see more properties like these? Ready to begin your Wilmington, DE home search? Let us help you discover your real estate options and move closer to purchasing your next home!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

 

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