How's the Delaware Market Finishing in 2016?

The year is finally winding down, so I wanted to give you a
quick update on the market. Inventory is still low, giving
sellers a great chance to get a great price for their house.


Selling a home? Get a free home value report


Buying a home? Search all homes for sale

The fall market looks to be wrapping up for the year, so today I
wanted to give you a closer look.

When you compare this year to last year, we're essentially looking
about the same. Inventory is down slightly from 2,505 units to
2,437, indicating that homes are selling faster than they're being
listed.

This is a good sign for sellers.

Inventory this year is still hovering around five months of supply,
which is basically a balanced market. Settle volume is down
slightly from 501 units to 493, which indicates that buyers might
not be getting homes as quickly as they have in the past.

“

The market needs inventory, making now a great time for
sellers.

”
When settle volume goes down, it's a good sign for prices. It
means that there's still demand for inventory. This will continue
to drive the price increase, which we've already seen go up from
$226,000 to $228,000 on average.

List-to-sales price ratio is exactly the same, with sellers getting
94.7% of asking price. You should expect a few points to come off
your list price, but that's been commonplace forever.

Simply put, the market is still strong this year and not many
things have changed. It looks like we'll still be strong
heading into the spring, too. The market needs sellers, so if
you've had any thoughts about selling, don't let the weather or the
season deter you. Thanks to low inventory, now is an excellent time
to get a great price for your home. You have motivated buyers in
the market slogging through the cold, sloppy conditions outside
because they so badly need to buy a home.

If you've got any questions or you're interested in talking about
selling your house, give me a call or send me an email today. I'd
love to hear from you!