Local Real Estate Market Update - June / 2022 Q2

Curious about the current local Real Estate Market in Coastal Delaware and surrounding areas? We’re here to recap the previous quarter of 2022, and share some June updates with you!

For about the last year and a half, we’ve been in a very, very busy market. There has primarily been very low inventory causing high prices, and an abundance of buyers. Homes listed had been getting multiple offers, and had typically been selling for over asking price. However, we are beginning to see a slight shift in the market.

Of course, due to the inflation throughout the economy, there are numerous changes happening that have different effects on Real Estate. In our local market, while prices are still high, we are starting to see some stabilization. The once before multiple offers are now being cut in half, and the time that it takes for a home to go Under Contract is now a little slower than the quick turn-around that we were seeing before. With that in mind, it’s a great time to sell if you’ve been considering listing your home for the summer season! Good news for buyers is that we are seeing more inventory coming on the market, thus diversifying your options!

Helpful tips for sellers – when listing your home, we recommend pricing your property accurately in reflection with the current market value. Another key factor is to really make sure that your property is staged well, so that it can show off all of its beauty and highest potential to each buyer that steps through the door.

Ultimately, whether you’re in the market to buy or sell, we’d love to have the opportunity to work with you. Give our team a call or visit our website for more information!