At a Glance – April 09, 2018
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First Quarter Stats for 2018
FOR IMMEDIATE RELEASE
Local real estate market enjoys continued gains over same period a year ago
Data released recently by the Sussex County Association of REALTORS® (SCAOR) reveals a steadily strengthening local real estate market, with nearly all sectors holding steady compared to the same period in 2017, and the highest residential sales volume in a first quarter within the last 11 years.
1,002 residential homes were sold thus far in Sussex County for a total of more than $365 million. This represents a 5% decrease in the number of homes sold and a 9% increase in average sales price over the same period a year ago.
“It’s incredible to see the sales growth we’ve experienced continue to hold steady,” says Chris Lind, SCAOR’s 2018 president.
Home sales for the months of January, February and March were especially strong in 2018. The average sale price of a residential home in Sussex County rose slightly compared to the first quarter of 2017. The average residential home price sold for $364,275 in the first quarter, compared to $333,961 last year.
As of March 31, there was slight increase in total volume verses the first quarter of 2017. This means that home sale prices are holding steady at pre-recession levels.
“With such a strong start, it’s easy to get excited about the rest of the year. We’re optimistic about the future of real estate in Sussex County,” says Chris.
Commercially speaking, the first quarter of 2018 saw an increase in units sold over the previous year, but a decline in average sales price. Additionally, more than $14 million has been generated in commercial sales, and more than $24 million in sales of land.
To view an extensive database of homes that are currently for sale in Sussex County, visit SCAOR’s Website at www.scaor.com.
The Sussex County Association of REALTORS® was chartered in 1949 and has steadily grown in size, scope, and mission during its more than 6 decades in Sussex County. It is a professional trade association with goals of carrying out a program of ethics, education, and advocacy for real estate in the county.
SCAOR is a resource for the public, as well as a recognized advocate for property rights and property owners in Sussex County. The association also monitors legislative issues on the local, state, and national levels that may impact home ownership in the area.
To read more about issues related to Sussex County’s real estate industry, visit SCAOR’s website at www.SCAOR.com.
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The SCAOR Card – Issue #017 – Education
License Renewal is quickly approaching! Don’t forget to visit our website www.scaor.com and click on the “EDUCATION” tab! We have some great classes coming up to get your final CEs complete.
Stay tuned as we have 2 National Instructors on the horizon…Melody McClain on May 10th and Paula Monthofer on June 14th!
We welcome all feedback about our course offerings and any ideas that you may like to see.
Kindest Regards,
Patricia L. Anderson
Director of Professional Development/ProStandards Administrator
SCAOR
23407 Park Avenue
Georgetown, DE 19947
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The SCAOR Card – Issue #017 – Membership
Welcome to the SCAOR 1st Quarter REALTOR® membership report! Here’s what’s happened from January – March 2018:
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Primary
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58 |
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Secondary
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8 |
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Clerical
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15 |
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MLS Only
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34 |
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Office
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15 |
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Affiliates
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9 |
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Transfers
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66 |
Here are our membership counts for March alone:
| 3/1/18 | Giovanny Mesa | |
| 3/1/18 | Vincent Walsh | |
| 3/1/18 | Marcia Dukes | |
| 3/6/18 | Barry Ziegler Jr | |
| 3/7/18 | Pamela J Foster | |
| 3/7/18 | Steven Shuart | |
| 3/7/18 | Rodney Biamby | |
| 3/7/18 | Carolyn Page | |
| 3/8/18 | John Wallden | |
| 3/8/18 | Francine Balinskas | |
| 3/8/18 | Jennifer Demarest | |
| 3/8/18 | Tatiana V Koushnir | |
| 3/13/18 | Michael McDowell | |
| 3/13/18 | Michael Terranova | |
| 3/14/18 | Christian Heneghan | |
| 3/14/18 | Richard Norcross Jr | |
| 3/15/18 | Avery Withers | |
| 3/20/18 | Elizabeth Kilroy | |
| 3/20/18 | Katherine A Williams | |
| 3/28/18 | Andrew McBride | |
| 3/29/18 | Nicole West |
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The SCAOR Card – Issue #017 – From the CEO’s Desk
April is here! This means that the end-of-licensing is around the corner. Please make sure you have the required CEs, per the State of Delaware, to renew your license. Also make sure you have completed or are planning to complete the Code of Ethics (COE) before the of of the calendar year. The fifth NAR cycle for members to complete the COE commenced on January 1, 2017 and ends on December 31, 2018. This is critical for the Association to comply with NAR Core Standards.
Other Association news includes the following:
- The next BOD meeting is May 24 at 9 am (after NAR Legislative meetings from May 14-19 in DC). Legislative Action Day is Wednesday, May 16. DAR coordinates Capital Hill visits for DE REALTORS.
- SCAOR has 38 Affiliates that have enrolled in the Affiliate program. Please make sure to read their monthly emails and network at Affiliate events. The next event is in May at the Crooked Hammock.
- The Public Policy Committee and YPN Committee are planning a RPAC fundraiser in November. SCAOR will commence event promotion around Labor Day weekend.
- The YPN Committee scheduled an Expert Panel for April 17 from 3-5 pm at SCAOR. The event is free. Please see the enclosed flyer for more details.
- Education classes are scheduled through April 30 at scaor.com’s Education page.
- Bright MLS conversion day is June 4, preview is around May 7.
- May 10 is the next Finance Committee meeting
- The Organizational Planning Committee will meet June 13 and 14 to draft a new Strategic Plan for 2019-2021.
- The Peninsula Commercial Alliance (PCA) is now a SCAOR standing committee called the Commercial Committee (PCA was dissolved in 2017)
- Bright MLS and SCAOR agreed to invoice renewing MLS members for April, May and June. Billing will open April 18. MLS service fees ($20 per month for members and $30 for MLS Only) will remain the same for April and May. SCAOR members will pay $35 for Bright MLS for June.
- The MLS Committee recommended to the BOD to increase the lockbox allocation from no more than 10% above active listing amount to no more than 20% above active listing amount. They also recommended that the Audit be moved to October instead of May/June. Current annual fees are $125 for SCAOR members and $150 for non-members.
- Lastly, NAR is proposing a $30 dues increase. Please log onto NAR and seach for S.M.A.R.T. Initiatives to learn more about the dues increase and FY 2019 NAR Budget.
Overall, the Association is healthy with adequate reserves for short-term operational expenses and long-term capital improvement expenses. As always, continue to represent the Association well in the community and adhere to the Code of Ethics when conducting business.
Sincerely,
Merritt Burke IV
CEO
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The SCAOR Card – Issue #017
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At a Glance – April 2, 2018
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At a Glance – 03/27/18
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At a Glance – 03/19/18
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At a Glance – 03/12/18
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