Southern Delaware Market Heats Up
According to the Sussex County Association of Realtors, second quarter sales data indicates a southern Delaware real estate market that has increased in recent months, showing gains over Q1 2016.
Through the first six months of 2016, more than 2,000 residential homes have been sold in Delaware’s southernmost county.
That’s a 47% quarterly jump in residential volume over Q1 2016, with average DOM sinking.
In the first half of the year, the average home in the county is selling for a median price of $309,489, while the average amount of time on the market just 147 days.
In total, more than $694 million worth of real estate has changed hands during the first six months of 2016.
The lots/land and commercial segments are also up from Q1, with commercial real estate showing a significant increase in sales volume.
So far in 2016, Sussex Co. REALTORS® have sold 2,369 properties!