Curious what's been happening in the local Delaware or Pennsylvania real estate market? You can always count on the Kat Geralis Home Team to share updated market stats! Just remember, real estate is hyper-local, so it is always wise to contact your agent for a current snapshot of the market where you live.

For the first quarter of 2018, there were 1,690 homes for sale— a 24.3 percent decrease in inventory from the same time last year. But before you begin to worry that the market is taking a dip, keep in mind that this isn't just the case in Delaware and Pennsylvania, lower inventory is a trend all over the country right now! The median sales price saw a 2.4 percent increase to $214,900 (a great sign for home sellers!) and the number of home sales dipped slightly to 1,362 total closed in Q1. 

The average sales price in New Castle County for the fourth quarter was $232,206, a 1.8 percent increase from this time last year— again great news for home sellers looking to get top dollar! The percentage of the original price received also saw a 2.3 percent increase in Q1, coming in at 95.9 percent!

Inventory for the first quarter of 2018 posted a 27.4 percent drop from the previous year, totaling a 2.9 months supply— another sign that the market is ready for your home! With the right real estate expert on your side, you can sell your home quickly and for top dollar— you might just even spark a bidding war!

Updated real estate market stats can provide brief insight into the local real estate market, but they are just that— brief! Contact us today for more information about the market where you live in Delaware or Pennsylvania or with any questions you have about buying or selling a home this year!

We even offer FREE First-Time Home Buyer Seminars!

Give us a call today!
 

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
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