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Newark Home prices
In August, the number of new listings was up 17.2%. For the year listings are up 13.7%. This is great news for buyers as it indicates home owners are now moving back into the market. This gives you more listings to consider in Newark Delaware when you are looking to buy a home.
If you are looking to buy a home in Newark Delaware, you can still find a deal but having a good real estate agent who understands the market is a priority. Home listings priced right are selling quickly. Home prices sometimes are affected by rising interest rates and other outside forces. They are especially affected by economic conditions.
As you can see, listings are selling almost 16.7% faster this month and 16,9% faster for the year. Listings aren’t selling for full price though, so you will want an agent that does a thorough market analysis of the home.
The Median Sales price in August is up 14.5% to $209,900 in Newark DE.
Year to Date the Median Sales price is $195,000, and up 5.1%. Pending Sales are up 5.5%. Closed Sales are down 12.5% for the month. For the year closed sales are down 7.5% and pending sales are up 1.8% in Newark Delaware.
Total Inventory is up 14.9% and Single Family detached home inventory is up 26.6%
Newark Delaware Market Direction
As of August, there were 688 Active listings and 98 homes pended. That represents a 7.0 month supply of homes. That means this is a NEUTRAL MARKET. This is for all price ranges and zip codes in Newark Delaware. If you would like to know if your home is in a sellers or buyers market, you can contact me by phone at 302-733-7020 or by email at scasey@psre.com.
