Mortgage rates falling: buy now or wait for lower rates?
Mortgage rates have fallen, making homes more affordable to millions of buyers. So should you buy a home now, or hold out for even lower rates? (Scripps News)
Scripps News
Newly released data from Realtor.com for June shows that potential buyers and sellers in Delaware saw houses sell for higher than the previous month’s median sales price.
New Castle County saw houses sell for higher than the previous month’s median sales price of $335,000. The median home sold for $338,700, an analysis of data from Realtor.com shows. That means June, the most recent month for which figures are available, was up 1.1% from May. In Sussex County that price was more than $150,000 with a median home sales price of $613,643 .The median home sold for $497,450 in Kent County.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in up-to-date data. The statistics don’t include homes currently listed for sale, and aren’t directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.delawareonline.com.
Looking only at single-family homes, the $417,400 median selling price in New Castle County was up 0.6% in June from $415,000 the month prior. Since June 2023, the sales price of single-family homes was up 12.8% from a median of $370,000.
Looking only at single-family homes, the $525,000 median selling price in Kent County was up 51.7% in June from $346,000 the month prior. Since June 2023, the sales price of single-family homes was up 72.1% from a median of $305,000.
Looking only at single-family homes, the $675,000 median selling price in Sussex County was up 52.5% in June from $442,500 the month prior. Since June 2023, the sales price of single-family homes was up 57% from a median of $430,000.
In June, the number of recorded sales in New Castle County dropped by 8% since June 2023 from 578 to 532. All residential home sales totaled to $212.5 million. It also dropped by 3.9% in Sussex County. In June, the number of recorded sales in Kent County rose by 56% since June 2023 from 232 to 362. All residential home sales totaled to $604.7 million.
Delaware median home sales
In Delaware, homes sold at a median of $449,000 during June, up 19.7% from $375,000 in May. There were 1,393 recorded sales across the state during June, up 4.8% from 1,329 recorded sales in June 2023.
The total value of recorded residential home sales in Delaware increased by 178.1% from $645.6 million in May to $1.8 billion this June.
Out of all residential home sales in Delaware, 22.11% of homes sold for at least $1 million in June, up from 4.29% in June 2023.
Sales prices of single-family homes across Delaware increased by 30.1% from a median of $392,000 in May to $510,000 in June. Since June 2023, the sales price of single-family homes across the state was up 34.9% from $378,200.
Across the state, the sales price of condominiums and townhomes dropped 7.7% from a median of $325,000 in May to $300,000 during June. The median sales price of condominiums and townhomes is down 3.1% from the median of $309,500 in June 2023.
Thinking of buying your dream home? Here are the priciest homes in the First State
The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66ee8e07efb14dbab5816b95612dacff&url=https%3A%2F%2Fwww.delawareonline.com%2Fstory%2Fmoney%2Freal-estate%2F2024%2F09%2F21%2Fdelaware-real-estate-new-castle-sussex-kent-counties-homes-for-sale%2F75265640007%2F&c=8290599306874347036&mkt=en-us
Author :
Publish date : 2024-09-20 22:07:00
Copyright for syndicated content belongs to the linked Source.