New Real Estate Opens
OCEAN VIEW — Coldwell Banker Residential Brokerage in the Mid-Atlantic Region has announced the company has opened a new office at 89 Atlantic Avenue
in Ocean View, Del. Company leadership and local Bethany-Fenwick Area Chamber of Commerce members were in attendance for the ribbon cutting ceremony this month.
The coastal Delaware office brings together approximately 40 affiliated agents into a modern, high-tech facility that will increase collaboration and ensure a focus on growing the agents’ business. The office space offers state-of-the-art technology, dedicated support and ample meeting space to meet the needs of agents and clients. The affiliated agents previously served the community at an office located in Bethany Beach.
“The core of real estate is about people and relationships. This central location in Ocean View ensures that Coldwell Banker agents can gather and collaborate for the benefit of their clients in southern Delaware coastal communities,” noted Greg Goldman, branch vice president of the Coastal Delaware office.
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Real Estate Market Update
BERLIN — Residential housing sales continued their upward trend throughout September, according to the latest numbers from the Coastal Association of REALTORS® (Coastal).
The graphic pictured details real estate activity in September. Submitted Image
In all three counties throughout September, new settlements were up 15.5 percent compared to the same time last year and Year to Date (YTD) settlements were up 2.5 percent. Individually, new settlements throughout September were up by 22.5 percent in Worcester and by eight percent in Wicomico, and were down by 10 percent in Somerset. YTD settlements were up by seven percent in Worcester and by 0.5 percent in Somerset, but were down by 5.2 percent in Wicomico.
Inventory remained down in September, as the tri-county area saw a 25 percent decrease in active listings and a 3.6 percent decrease in new listings compared to the same time last year. Individually, active listings were down by 22.1 percent in Worcester, by 32.4 percent in Wicomico, and by 20.3 percent in Somerset. New listings were down by 11.8 percent in Worcester and were up by eight percent and 48 percent in Wicomico and Somerset, respectively.
The average list price for the shore was $229,940, which is 9.4 percent higher than this time last year. The average sale price was $199,254, which is 5.6 percent higher than this time last year.
The average Cumulative Days on Market (CDOM) for September was 129, or 36 percent higher than the same time last year. Individually, CDOM increased by 111.5 percent in Wicomico and by 45 percent in Somerset, and decreased by 12 percent in Worcester.
“Our market continues to benefit from low interest rates and the improving economy,” said Coastal President Bernie Flax. “Anyone interested in buying should act quickly to take advantage of these favorable conditions.”