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Market Update – NOW is a great time to sell!

As a real estate professional, I’m often asked if now is a good time to buy or sell a home. The answer is yes! It’s a great time to move, and I’d like to tell you some of the reasons this is such a unique market.

Property values have been increasing in most places across the country. That obviously translates to higher sales prices, which can be tough on buyers. However, we’re also experiencing a sound economy with relatively low borrowing costs, record low unemployment and rising wages. Most of the indicators we look at as Realtors appear to be very favorable for home buying. Among them:
8 percent unemployment in May – the lowest since April 2000

  • Consumer confidence at a 17-year high this spring
  • 6 percent 30-year mortgage rate in June (higher than a year ago, but still historically low)

These factors have recently helped push the national home ownership rate higher for the first time in more than a decade. The one thing hindering the number of home sales today is a lack of properties on the market in entry- and mid-level price ranges. More people would be purchasing homes if we had more to sell.

Homeowners who are on the fence about selling: Now is a GREAT time to go to market. Residential real estate values have fully recovered from the Great Recession, and if you’ve been in your home for a few years, you most likely gained significant equity. Properties are selling very quickly, sometimes attracting multiple offers. Whether you are considering selling your property or not, I would be happy to prepare an equity evaluation for you at no charge. That way, you can make a fully informed decision regarding your home sale and purchase prospects. Certain websites can give you a ballpark estimate using AVMs (Automated Valuation Models), but these are usually inaccurate and don’t take into account the unique features of your home.

If you’re thinking about buying a new home, our challenge of having too few homes on the market is expected to be ongoing. Why delay your dream of home ownership or put off looking for your next house? As a well-connected professional with a large network and deep knowledge of the neighborhoods, I’ll look beyond what’s on the internet to help you find that house you want, advise you on getting pre-qualified, and prepare an offer that will get you into a home.

Whether you’re interested in buying or selling, I’m here to be your trusted adviser through the process. Please feel free to reach out if you have any questions at all about the real estate market in Delaware. I would love to put my experience and expertise to work for you.

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Allison Stine

Allison Stine is a highly accomplished real estate professional and the team leader of the Allison Stine Team at Northrop Realty. With an impressive track record spanning nearly two decades, Allison has been a dedicated member of the industry since 2004, bringing her expertise and passion to every client interaction. As the President of the Sussex County Association of Realtors, Allison holds a prominent role in the local real estate community, actively shaping the industry's standards and best practices. Her exceptional leadership and commitment to excellence were recognized when she was honored with the prestigious Realtor of the Year award again in 2024. With a focus on delivering exceptional results, Allison and her team have established themselves as the top producing real estate team in Delaware within Northrop Realty. Their commitment to client satisfaction, paired with their deep understanding of the local market, ensures that each client receives personalized and comprehensive service throughout the buying or selling process. Beyond her professional achievements, Allison is an avid collector of muscle cars, indulging her passion for speed and precision at the drag strip. She resides in the beautiful coastal town of Rehoboth Beach, DE, with her partner Pete. Operating out of two convenient locations in Bethany Beach, DE, and Newark, DE, Allison's real estate team provides exceptional service to clients across Delaware, as well as selected areas of Maryland and Pennsylvania. Whether you're a first-time homebuyer, a seasoned investor, or looking to sell your property, Allison Stine and her team possess the expertise, dedication, and local market knowledge to help you achieve your real estate goals.

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