Sussex County Home Sales - as of June 1, 2009

There is a buzz of a good news spreading throughout the nation regarding the state of the real estate market. Across the board, sales are remaning steady, and we are even seeing increases in pending sales. The beach resort area is no stranger to that as well -- it has been experiencing a rather comfortable 2009 so far! Homes are selling, some within a matter of days, buyers are looking and seller's are having to make less concessions. I would almost risk it to say that we are seeing a decline in short sales as well. Regardless, this is a great indication that the market is indeed turning, across the board, and we are all benefitting! Below is a breakdown of what has sold for this year thus far.

Single Family - 491
Condo / Town Home - 163
Mobile - 76
Multi Family - 3
Lots / Land - 112
Farms - 3
Commercial - 17

The total closed real estate transactions for the year thus far is 865. As of April 30, 2009, the average list price was $314,740, and a sales price of $293,773. Homes sold at 93.3% of list price, and averaged 193 days on the market.

I am curious to see how much those averages will change once the stats come out for May, which should hopefully be available by my next market update post. Until then, enjoy the beautiful weather and bask in the rays of a turning economy!

Beach to Bay Real Estate Center is a full service real estate brokerage servicing buyers, sellers and renters at the Delaware beach areas. We handle all forms of real estate, including residential, commercial, and lots and land, in addition to bank owned, short sales and auctioned properties and representation; mortgage needs including refinances, new home purchases, second homes, first time homebuyer programs and reverse mortgages; maintain professional relationships with local settlement attorneys, insurance companies, contractors, and inspection companies; and are affiliated with a preservation and restoration company. Beach to Bay services all of Sussex County, and southern Kent County, with a strong focus on the beach resort areas of Rehoboth Beach (19971), Lewes (19958), Bethany Beach (19930), Dewey Beach (19971), Milton (19968), Millsboro (19966) and more.