Market Update January 2009-January 2010 New Castle County Delaware

    The current real estate market in New Castle County appears to be headed in the right direction – “for now”.  Buoyed by the First Time Buyer tax credit, January 2010 numbers show higher sales volume (+15% units sold), less inventory (2804 units down from 3032 units) less days on market (80 days down from 87 days), and higher average sales price (236K vs. 233K – see graph/chart: Download NCC Price Analysis Jan 09 - Jan 10) compared with  sales numbers for January 2009. 

 

Near record low interest rates, plus an additional tax credit of $6500 for existing homeowners who purchase another primary residence (must have owned previous home for at least 5 years) along with home prices which are at the lowest level in over 5 years, make this a perfect time to buy or sell a home.  

 

To discuss your options in the real estate market, contact John Luca at 302-740-5872.

 

 

Click on the charts below to see full size charts of Price Analysis for New Castle County, Delaware for the past year.