1st Quarter 2016 Results Are In
If figures from the first three months of 2016 are any indication, Sussex County’s real estate markets are in for yet another solid year. And if the data remains strong for the next nine months, this could extend what is already a positive years-long trend here in southern Delaware. Partly due to the milder than normal winter, as well as a continuously strengthening economy and market, the 864 residential homes sold between Jan. 1 and March 31 reflect yet another strong quarter of real estate sales in Sussex County. This is good news for all of you, as home sales in southern Delaware continue showing strength year after year. Countywide, the average sales price for a three-bedroom residential home continues to hover around the $250,000 mark, as it as for some time. Four-bedroom homes are selling for an average of just under $500,000 in Sussex County, with the majority of those properties selling in the coastal areas. And as the market continues to grow, our numbers here at SCAOR are growing along with it. We are continuing with our new member orientation classes, our training classes for newly licensed agents and our MLS training classes. As for our local markets, only time will tell what the rest of 2016 holds. But we’ve enjoyed several years now of moderate, steady growth here in southern Delaware, and we expect more of the same for the remaining three quarters of this year. If you’d like a more detailed analysis of 2016’s first quarter data, be sure to pick up your favorite local newspaper over the next couple of weeks for the Association’s quarterly report to the media. Until then, keep up the great work everyone! Keep showing and keep selling those properties. As always, these are listed on our calendar and on the SCAOR Store.
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