DE: September Home Sales Grew While Prices Fell

Delaware Gay Real EstateA more realistic view of the market by both buyers and sellers boosted home sales across the state this summer, even as prices continued to show the impact of foreclosures and other short sales, real estate professionals said Tuesday.

September sales totals were well above last year’s numbers in all three counties, rising 32 percent in New Castle County, 8 percent in Kent and 18 percent in Sussex. At the same time, year-over-year prices continued to slip, falling 13 percent in New Castle, 9 percent in Kent and 16 percent in Sussex.

Those prices are largely the result of foreclosed and other “distressed” properties working their way through the market, Realtors said. Next week, for example, there are 130 sheriff sales scheduled in Sussex. Last year at the same time there were 60, said Sandy Greene, a Realtor with ResortQuest Real Estate in Bethany Beach and president of the Sussex County Association of Realtors.

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