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December 2017-Fourth Quarter- Year End

Home Sales Report for New Castle County

DECEMBER 2017                   Fourth Quarter 2017           2017 Year end

Median Settled Price for December 2017: $221,000 down 5.5% vs. December 2016.

   Mean Settled Price: $253,590 down 2.7%.

Median Settled Price for the Fourth Quarter 2017: $219,900 down 4.3% vs 2016

   Mean Settled Price: $242,661 down 2.8%.

Median Settled Price for 2017 $225,000; $1,000 lower than 2016

   Mean Settled Price: $250,660 $110 lower than 2016 (yes, one hundred ten bucks)

Settled properties sold on average for 94.8% of original listed price vs 93.8% in December 2016.

Median listed price of homes Pending* in December 2017: $212,000.

(*Pending means properties that are under agreement and off market but not yet settled.)

Median list price of all homes For Sale during December 2017: $235,000; 10.8% higher than  pendings.

Homes Pending: 387: down 28 units or -6.7% vs. December 2016.

Homes Pending in the Fourth Quarter: 1,495 up 12 units or +0.8% vs. 2016

Homes For Sale on 1/31/17: 1,616; a 2.7 month Supply¹ down from 2.9 on 12/29/17.

Homes Settled in December 2017: 580 down 32 units or -5.2% vs. 2016

Homes Settled in the Fourth Quarter: 1,700 up 50 units or +3.0% vs. 2016

Homes Settled in 2017: 7,200 up 662 units or +10.1% from 2016.

New Listings in December 2017: 387 down 19 listings vs. December 2016.

Bank owned properties were 9.6% of the sales in December, up from 8.5% in November; short sales were 3.2%, down from 4.0%; for a total of 12.8% distressed, up from 12.5%.

Bank owned properties were 9.5% of the sales in the Fourth Quarter, up from 7.8% in Third Quarter; short sales were 3.9%, up from 2.8%; for a total of 13.4 % distressed, up from 10.6%.

Bank owned properties were 9.2% of the sales in 2017, up from 7.5% in 2016; short sales were 3.8%, down from 5.0%; for a total of 13.0% distressed, up from 12.5%.

 

¹ A 5-6 month supply indicates a balanced market. Less=Seller’s More=Buyer’s
Based on pendings

Statistics with prices exclude condominiums.

Statistics regarding number of units include all residential except mobile homes.

 

·         A preview of January’s numbers that will likely change: Median price: $219,000 up from $215,000 in January 2017, Pending units 511 vs. 482 up 6%, Settleds 408 vs. 410 last January. New listings: 553, that is down 128 from last January or 19% fewer new listings. I don’t think that we have had this few homes on the market since I got my license in 1989. If I knew of anyone with some old mls books, I would like to verify my memory.

 

 

Based on information from TReND MLS for the period 12/2017 through 2/2018

© 2018 Stephen Larrimore

 

Steve Larrimore, Realtor
Steve@SteveLarrimore.com
Direct 302-559-9013 Office 302-999-9999
BHHS Fox & Roach, Realtors

88 Lantana Drive, Hockessin, DE 19707