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414 Rehoboth Ave Rehoboth Beach, DE, 19971
Office: 302-227-9477


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Rise in October Existing-Home Sales

Posted by Bill Mann on Tuesday, November 22nd, 2011 at 1:27pm.

According to National Association of REALTORS®, October saw existing-home sale improve with a decline in the number of homes on the market.

Total existing-home sales, defined as successful transactions which encompass single-family, townhomes, condominiums and cooperatives, for October increased 1.4% to a seasonally-adjusted annualized rate of 4.97 million -- 13.5% above the level in October 2010.

For single-family, townhomes & condos in Rehoboth Beach the October median sales price was $412,553. For Sussex County Delaware, the October median sales price of single-family homes was $250,000 -- 0.5% decline from a year ago.  Townhomes & condos were hit particularly hard with a median sales price of $265,778 -- an 11.7% decline from a year ago.

For the Northeast region, October existing-home sales fell 5.1% to 750,000 (annualized) but are 1.4% above October 2010. The median price was $224,400 -- a decline of 5.5% from a year ago.

On a nation level, the median existing-home price in October was $162,500...4.7% lower than in October 2010. Distressed home sales comprised of 28% total sales in October, down from 30% in September and from 34% in October 2010.

Bill Mann
Broker Associate / Owner
Mann & Sons, Inc. REALTORS®
302.542.1696 Cell 302.227.9477 Office

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