Tuesday marked the first day of spring, and with the change in season comes an increase in real estate activity. More people begin to think about buying or selling their home in time for summer, and as a Wilmington, DE real estate agent, I can honestly say that I get incredibly busy during this time of year. This spring has seen a different trend, however. Despite the longtime buyers market that we have been in over the past year, recent activity has suggested that we are in a temporary sellers market. Conditions are improving for sellers and ideal for buyers at the moment, so if you’re thinking about entering the Wilmington, DE real estate market, now would be the time to do so.

There are a number of economic factors that have contributed to the recent upswing in home buyer activity over the past few months, but here are a few that stand out strongly in my mind:

•    A mild winter. Warmer temperatures and ideal weather during the dreaded winter months have been incentive for buyers to leave their homes and begin their search for the perfect Wilmington, DE home earlier than they would have in past years. Whether you’re looking for a single family home or distressed property, the weather has been anything but a deterrent from pursuing your property.
•    Sellers are getting smarter. Despite all of the statistics and market conditions that have been proving price points are lower than average, sellers are now starting to realize that in order to attract buyers, they need to price their homes reasonably. The asking price needs to fit market conditions. Since more sellers have come to this realization, more homes are being priced correctly from the get-go. As a result, buyers are starting to make offers on these properties.
•    An improving economy creates a sense of urgency with buyers. Home prices are gradually starting to go back up, and so are mortgage insurance premiums and the number of jobs. These are all signs that the housing market is about to improve, and when that happens, home prices will begin to rise again. Buyers want to take advantage of the market while the conditions are still ideal for them, so they will likely want to buy a home sooner rather than later.
•     Consumers are a bit better informed than in the past. With housing woes taking over the headlines over the past year or so, consumers have taken an active interest in getting more educated about the nature of the housing market before making the decision to enter a transaction. This includes seeking the advice of real estate agents and mortgage professionals. Since consumers have become more knowledgeable about housing conditions, many buyers are now realizing that the market is fantastic for them at the moment, and they are acting accordingly.

As a Wilmington, DE real estate agent, I think that it’s important to keep my community informed about current housing conditions. All of the national housing activity suggests that right now, the market is ideal for buyers. With the improving economy and ever-changing conditions, buyers would be smart to act NOW while the market still works to their advantage.

If you need help finding a Wilmington, DE home, don’t hesitate to contact me! I’d be happy to help you navigate through each transaction with ease. I hope to hear from you soon.

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