As we move through the summer, July has proven to be a dynamic month for the real estate market here in Coastal Delaware. Whether you're buying, selling, or just keeping an eye on the market, there’s a lot happening in the real estate market that could impact your decisions.
In July, the listed median price reached $499,990, showing a modest 2% increase from July 2023. With 465 units sold, we saw a strong increase in sales compared to last year, with an almost 24% increase in homes purchased last month. Homes are spending a little while longer on the market, with the average of 53 days on the market. Additionally, there are currently 1,939 homes for sale, marking a significant 33.7% increase in inventory, a good sign for the demand of buyers in our current market.
These shifts in the market reflect a strong market with plenty of opportunities, whether you’re looking to buy or sell. The increase in inventory means more options for buyers, while sellers can still benefit from the high level of market activity. We are excited to see what the rest of 2024 will bring for us & where the rest of the year will take us here at Lunden Group!
If you're considering buying or selling this year, it's important to understand how these market trends might impact your unique situation. We're here to help you navigate these changes and put together a plan that best suits your needs. Don’t hesitate to reach out to our team, and let’s make the most of this summer market together!
Wishing you a safe and wonderful rest of your summer,
-ML
LOCAL NEWS
EATS
Looking for a laid-back spot with great food and a beachy vibe? Check out Somewhere on Baltimore Avenue in Rehoboth Beach. It's the perfect place to unwind with a tropical cocktail, enjoy some tasty Caribbean-inspired dishes, and soak up the sun on their outdoor sand patio. Whether you’re in the mood for brunch, a casual dinner, or just a relaxed happy hour, this place has got you covered. Plus, their creative menu offers something for everyone.
Don’t Miss an Evening of Jazz: The Sharon Sable Jazz Quartet at The Room at Cedar Grove
Looking for an unforgettable evening filled with soulful jazz? The Sharon Sable Jazz Quartet takes the stage at The Room at Cedar Grove, Lewes, DE. Known for her captivating voice and expressive performances, Sharon Sable, along with her talented quartet, will transport you to a world of smooth melodies and timeless classics.
This is more than just a concert; it’s an experience. Whether you’re a long-time jazz enthusiast or just looking for a unique way to spend your Friday night, this event promises to deliver an evening of exceptional music in an intimate setting. The Room at Cedar Grove provides the perfect backdrop for a night of live jazz, offering a cozy atmosphere where you can truly appreciate the artistry of the performance.
And there’s more—by attending this event, you’ll also be supporting a great cause. Money raised goes to the nonprofit Paul Kares organization, which donates to Delaware students studying the culinary or musical arts. It’s a wonderful opportunity to enjoy incredible music while giving back to the community.
Tickets are available now, and with limited seating, you won’t want to wait to secure your spot. Grab your tickets, gather your friends, and get ready for a night of extraordinary music, all while supporting the future of Delaware’s young artists. Don’t miss out on this chance to enjoy the rich sounds of the Sharon Sable Jazz Quartet right here in Coastal Delaware!
