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February home sales in Delaware: Sussex leads the way in sales and highest median price

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February home sales in Delaware: Sussex leads the way in sales and highest median price


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  • Delaware existing home sales – not new construction – totaled 830 in February, down from January and from February 2024.
  • The median sales price in Delaware in February was $377,000, lower than January but higher than a year ago.
  • Sussex County led the state in both home sales and the median sales price.

Delaware home sales fell in February on a monthly and yearly basis, while the median price declined from January but rose from a year ago.

Sales of existing homes – not new construction – in February totaled 830, down 7.88% from 901 in January and slightly lower than 838 in February 2024, a decline of 0.95%, the Delaware Association of Realtors reported.

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The median sales price of $377,000 fell less than 1%, down 0.62% from $379,333 in January, but higher than a year ago by 2.70% when it was $367,083.

Prices have pulled back since October’s all-time high median price of $397,650.

The inventory of homes for sale was 3,506, up from 3,289 in January and from 2,883 one year ago.

The pace of sales slowed, with homes staying on the market an average of 50.7 days, longer than 47 days in January and 45.7 days in February 2024.

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“While inventory gains are a step in the right direction, affordability remains a pressing issue,” said Scott Farnan, president of the Delaware Association of Realtors, in a press release.

The association is advocating solutions like the “One Percent for Housing” campaign, which calls for the state to dedicate 1% of its budget to affordable housing solutions, Farnan said.

Sussex County leads state in sales and prices

Sussex County topped the other counties in home sales with 354, holding steady from 353 in January and higher than 330 in February 2024.

The median sold price was the highest in the state at $434,500, down from $465,000 in January, but up from $421,250 a year ago.

Inventory of homes for sale climbed to 2,109 from 1,888 in January and from 1,692 in February 2024.

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But the average time a home was on the market dragged out to 70 days compared with 62 in January and 56 days a year ago.

New Castle County sales and prices

In New Castle County, sales totaled 324 in February, down from 403 in January and from 353 a year ago.

The median sold price was $364,000, rising from $350,000 in January and from $330,000 in February 2024.

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Inventory of homes for sale was 838, climbing from 831 in January and from 713 a year ago.

The average time a home was on the market was 36 days, slightly longer than 34 days in January and longer than 28 days in February 2024.

Kent County real estate figures for February

Kent County sales totaled 152, up from 145 in January, but lower than 155 a year ago.

The median sales price of $332,500 rose from $323,000 in January but fell from $350,000 in February 2024.

Active inventory was 559, falling from 570 in January but higher than 478 a year ago.

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The average time a home was on the market was 46 days, up from 45 days in January, but sales were faster than a year ago, when the average was 53 days.

National sales and prices climb

In the U.S. as a whole, existing home sales were better than Delaware on a monthly basis, increasing by 4.2% in February from January to a seasonally adjusted annual rate of 4.26 million, reported by the National Association of Realtors.

However, compared with last year, national sales slipped 1.2%, while in Delaware the decline was less than 1%.

The national median sales price rose to $398,400 in February, compared with $396,900 in January and $383,800 a year ago. That’s a 3.8% year-over-year increase vs. the 2.7% rise in Delaware.

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The inventory of unsold existing homes climbed 5.1% from the prior month to 1.24 million at the end of February.

Properties remained on the market for an average of 42 days in February, up from 41 days in January and 38 days in February 2024.

“Home buyers are slowly entering the market,” said Lawrence Yun, chief economist at the National Association of Realtors. “Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.”

Reporter Ben Mace covers real estate, development and business news. Reach him at rmace@gannett.com.



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Delaware

Today in Delaware County history, May 31

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Today in Delaware County history, May 31


100 Years Ago, 1925: The dedication of the new Plush Mill bridge, originally planned for last Armistice Day and which was postponed and scheduled to take place Saturday has been postponed a second time. Last year’s drawback was caused by the delay experienced in preparing the bronze tablets and the second postponement is due to the same cause. Those in charge hope to hold the dedicatory exercises on the coming Armistice Day.

75 Years Ago, 1950: Hundreds of veterans of the Chester Veterans Council, families of the city’s war dead, and spectators, heard Judge Henry G. Sweney, a veteran of World War I, pay the community’s respects to the dead heroes of the nation at the Soldiers and Sailors Monument at Chester Rural Cemetery Tuesday afternoon. Warmed by a tardy sun, which broke through lowering clouds just as the several-mile-long parade stepped off at Third Street and Highland Avenue at 1.30 p.m., the members paused in reverent commemoration at the monument surrounded by scores of flag-decorated graves.

50 Years Ago, 1975: A work stoppage continues today at Westinghouse Electric Corporation’s Power Generation division, Lester, after 4,000 hourly employees walked off their jobs or refused to report for work Friday. “The whole plant is down,” said a corporate spokesman Friday night. He said the action taken by the members of Local 107, United Electrical, Radio and Machine Workers of America, is in connection with a three-day disciplinary furlough given to a worker in the heavy machining shop. The Westinghouse spokesman said the worker was given the furlough “for repeatedly violating work rules.”

25 Years Ago, 2000: As the observances of Memorial Day fade into memory, a major supplier of military personnel — the Selective Service System — approaches its 60th birthday. In its initial report card of state-by-state compliance with registration, Pennsylvania had 82 percent of its eligible men registered by the time they turned 20 years old, 1 percentage point below the national average. In Delaware County, 20,886 young men aged 18-25 registered through March 31 out of a total of 504,318 statewide, according to Selective Service spokesperson Lewis Brodsky in Washington,. No breakdown for the percentage of men registered in the county was available, he said.

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10 Years Ago, 2015: It was a celebration 125 years in the making in Sharon Hill. A full slate of events was held this weekend to celebrate its landmark anniversary, pulling out all the stops with a parade, a formal banquet and a fireworks show. “It’s a tremendous experience for me,” said Mayor Harry Dunfee, a 55-year resident of the borough.

— COLIN AINSWORTH



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The Delaware Center for the Inland Bays celebrates the completion of new facilities with ribbon cutting – 47abc

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The Delaware Center for the Inland Bays celebrates the completion of new facilities with ribbon cutting – 47abc


OCEAN VIEW, DEL. – The Delaware Center for the Inland Bays hosted a ribbon-cutting ceremony. It was too celebrate the completion of a new outreach facility. The project started in 2019, but stalled because of unforeseen circumstances. The Executive Director of the group, Christophe Tulou, is excited about the next step. “This was a 6 year project, and we’ve been working hard throughout the process interrupted by the pandemic; what this represents is a huge community resource.”

The James Farm Ecological Preserve Education Campus serves as a hub for environmental education, community engagement, and research. The 150-acre campus has been managed by the Delaware Center for Inland Bays since 1998. Annually, thousands of classroom students and visitors take tours of the campus. Tulou said the upgraded campus will bring modern amenities.

“We are so delighted to be to this point today, because now we have a place where we can vastly enhance our educational opportunities for students of all ages at the James Farm.”

However, while the project took 6 years to get done, legislators are happy to get it over the line. State Senator of the 20th District, Gerald Hocker, played a pivotal role in getting the project finished. He appreciates the work people have put into the facilities.

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“They put their heart and soul in it. The staff, and volunteers, are so remarkable, that has made this place a reality that it is today.”

Senator Hocker said education should be kept on the forefront.

“There is so much history taught here, not only about our bays, but so much about how Sussex County became about, and the importance of Sussex County to the state.”

The features on the campus include an environmental education building, amphitheater seating, integrated signage, red trail realignment, and more.

The address is 30048 Cedar Neck Road in Ocean View. Hours are from dawn to dusk.

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Escaped prisoner Taqwa Wilson recaptured after manhunt in Delaware County

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Escaped prisoner Taqwa Wilson recaptured after manhunt in Delaware County



Escaped prisoner Taqwa Wilson recaptured after manhunt in Delaware County – CBS Philadelphia

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Taqwa Wilson was taken back into custody on 4th and Broomall in Media, Pennsylvania, two hours after escaping police custody.

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