Is the real estate market as bas as they say? NO!

While the media will have you believe we are heading into the depths of a housing gloom, the statistics and data will prove just the opposite. Sure, the current market is not what it was a few years ago, in the height of an incredible, booming seller’s market, but right now, we are in a good place, and can only go up from here.

Let’s look at the facts: Through the second quarter of 2008, the average sales proce in Sussex County was $335,454. The average sales price at the peak of the market in 2005 was $374,000. The total homes sold last year were nearly 3,600, compared to 3,222 back in 2001, at the beginning of the hot market. It is hard to argue that our local market is suffering when you pick apart the data.

We will continue to struggle in the current economy, but if you break it all down and look at it objectively, you will realize that it really isn’t all that bad. We will get through this ahead of the game. We remain strong, and can only become stronger with time and patience. We can only advise our friends, family, neighbors, co-workers and people we pass on the streets to keep their head up high, stay strong, and be patient. There is light at the end of the tunnel, and all I see is a bright light shining ahead.