The SCAOR Card – Issue #013 – Q3 2017 Stats
Sussex County Association of REALTORS®
October 18, 2017
Local Real Estate Market Remains Strong
FOR IMMEDIATE RELEASE
The real estate market in Sussex County, Delaware continues to be active for buyers and sellers. Real estate date released by the Sussex County Association of REALTORS® (SCAOR) for the 3rd quarter of 2017 shows the average sold price of a residential property at $332,683. This continues a strong market as the average price was $312,646 in the 3rd quarter of 2016. Additionally, the total number of units sold year-over-year was 1,326 compared to 1,234.
President Brigit Taylor, after reviewing the data stated, “After several years of a market correction in Sussex County, we seem to be in a more normalized market.”
Commercially speaking, the 3rd quarter of 2017 saw lower units sold compared to the 2nd quarter but a higher average price from $527,783 to $696,500.
Regarding lots and land, the total units sold decreased from 217 in the 2nd quarter to 191 in the 3rd quarter. However, the average price of lots and land increased from $172,338 to $231,570.
Overall, $500,267,000 has changed hands in 2017’s third quarter.
There is no better time to hire a professional REALTOR® to assist with a future transaction. With over 1,800 members, the Association is ready to serve the public in any and all real estate transactions. President Taylor noted that, “With so many options to choose from and so many different ways to search for property, utilizing the expertise of a professional REALTOR® will simplify the process of selling an existing home or searching for a new home.”
To view an extensive database of residential, commercial and land 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 increased in size, scope, and mission during its more than six decades representing buyers and sellers in Sussex County. SCAOR is a professional trade association with a mission statement of ethics, education and advocacy for real estate transactions throughout the County.
SCAOR is also 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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