Newark Delaware 19711 Real Estate Market August 2011
Newark Delaware 19711
This is the market report for Newark, DE for August 2011. It covers single family homes in the Newark Delaware 19711 real estate market. All data is from the Trend MLS.
In August 2011, Newark had 24 closings at a median sale price of $231,000.
In August 2010, Newark had 26 closings at a median sale price of $259,000.
In August 2011 for the entire year, Newark had 213 closings at a median sale price of $235,000.
In August 2010, Newark had 246 closings at a median sale price of $246,000.
Volume is holding steady, but price continues the downward trend of previous periods this year.
Currently, there are 36 homes under contract at a median asking price of $275,447 in the Newark Delaware 19711 real estate market. This shows that pending prices are are strong, and we should expect volume to remain steady as the autumn approaches.
There are 226 active listings at a median asking price of $325,510. We are actually down to under a year’s worth of inventory at this rate (10 months), and while buyers do have lots of choices, sellers have gained some ground. It remains a buyer’s market, but not as severe as it was earlier this year.
Since inventory is down & prices and volume are slightly down it suggests that we may have turned the corner and are seeing a stabilization. This report is on the Newark Delaware 19711 Real Estate Market.