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May saw slight increases in the number of homes sold vs a year ago, while the average price of those homes sold declined. In fact, this is the first Year over Year decline in price that we've seen in May for the last 3 years.
Roughly 2/3rds of the homes that closed in May sold at a discount, on average 7% below their original list price.
The National average 30 year mortgage rate fluctuated a little during the month to end up slightly from April and down from a year ago. While we keep an eye on the Fed and their intent to move the FED rate lower, it doesn't seem that we will see rates moving lower until that happens.
To sum it up...
While there was a 4% increase in overall closings for the month, the gain came only from more Condo's (+16%) being sold. Detached homes (-5%), Townhomes (-15%), and Manufactured Homes (-30%) all fell from a year ago.
We did see the average home price decline in total and by each property type (except townhomes), the increase of Condo's sold and their lower relative price compared to Detached and Towns, was also an influence in the decline in the overall average price.
As mentioned, the number of homes sold below their original price has risen to 66% of all homes sold. This is about 4% more than the year to date average, and shows a trend that Sellers need to take note of.
This beautifully appointed home located in one of the area’s most desirable 55+ communities, Whispering Woods, features an open-concept layout with premium, luxury finishes throughout. As you step inside, you’re welcomed by clear sightlines to the expansive living room, dining area, and gourmet kitchen—perfect for both everyday living and entertaining. Off the foyer, you’ll find the first of two guest bedrooms and a full bath. The private primary suite is tucked away at the back of the home, offering a peaceful retreat with a spa-like bathroom featuring radiant heated floors—including in the shower. A charming sitting room opens to a custom paver patio with views of open green space, while a spacious laundry room conveniently connects to the kitchen. Upstairs, a generous loft overlooks the two-story foyer and leads to a second guest bedroom and full bathroom, ideal for hosting guests or creating a dedicated hobby or work-from-home space. This home is situated on a premium lot, offering serene green space views from nearly every room. Enjoy the benefits of a low-maintenance lifestyle with meticulously landscaped grounds and outstanding community amenities, including a heated outdoor pool, full gym, bocce courts, and pickleball courts.
Welcome to 26117 Kielbasa Court in sunny Lewes, Delaware—where the beach is in your backyard and coastal serenity meets modern comfort in this casual-lux beach retreat. This breezy 4-bedroom, two-story Coastal Farmhouse is built for easy living. The open-concept main level flows effortlessly from the farmhouse-style Chef’s kitchen with huge center island to the large dining area and soaring ceilings of the great room. All tied together with warm drift-wood wide-plank wood floors, bright-white cabinetry and custom shiplap and board-and-batten trim, and sophisticated sand color walls and ocean blue accents . You’re sure to feel the coastal lifestyle in every detail. The extra large primary bedroom suite with custom plantation shutters and shiplap detailing, an additional half bath, and a flex room that can be used as a fifth bedroom or as a dedicated home office space completes the first floor. Upstairs, find three roomy bedrooms with large walk-in closets, a guest bathroom and a versatile loft overlooking the great room below, and an enormous storage room that can be converted to additional living space, if needed. Each room’s custom color palette and coastal design evokes the tranquility and joy of sand beneath your feet and the gentle warmth of a coastal breeze on your face. From the great room, step outside to a screened porch and sunny back deck—your tree lined semi-private backyard is summer-ready with space to entertain, grill, or just relax - with enough room for a private pool. Whether you’re hosting friends or unwinding after a day at the beach, this home is your coastal escape, blending style, space, and a little salt air - this is truly coastal living at it’s finest.
Welcome to your dream home! Excellent primary home, vacation home, or investment property! This move-in ready, bright and beautiful two-story end-unit townhome features 3 spacious bedrooms, 2.5 baths, and a convenient garage. The primary bedroom suite is located on the main living level for added convenience. Enjoy serene pond views and a loft that overlooks the great room. You’ll also benefit from fantastic community amenities, including a swimming pool. Plus, it’s conveniently located near Paradise Grill, Massey’s Landing boat launch, grocery stores, and great restaurants. And, the beaches and retail outlet stores are just 20 minutes away! Freshly painted, new luxury vinyl plank floors and carpet make the home simply turn-key and ready to be called yours!
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