Choices Abound for Homebuyers in New Castle County
Published Apr 16, 2008
Whether it’s price range or architectural style, the New Castle County housing market offers something for just about everyone.
The combination of relatively low property taxes and a steady supply of homes of all sizes keeps the market fluid, and it helps avoid large price swings, says Bob Weir, executive director of the New Castle County Board of Realtors.
“We’re never going through the ceiling or bouncing off the bottom,” Weir says. “We enjoyed the heat-up of the marketplace recently. Now that the national market is cooling, we’re still seeing homes in this area appreciating in value.
“We do have a lot of relocation activity, which gives us constant motion in terms of buying and selling,” he says, adding, “a lot of those people are coming from other markets, and they tend to find that they can buy a lot more house here and pay half the taxes than they did where they came from.”
Area homes that have been well maintained don’t last long on the market, says Bob Cronin, a broker associated with Patterson Schwartz Real Estate. “As of June 2007, the average was 46 days,” Cronin says. “For the same time in 2006, it was 33 days, so it’s a bit more of a buyer’s market right now.”
According to Cronin, the county’s median home price for June 2007 was $238,000, compared with $240,000 for the same month a year earlier – another indicator that, overall, home values are at least holding their own.
Story by Joe Morris
Current Weather Conditions In Newark, DE (19702)
Cloudy, and 39 ° F. For more details?
Click here...
