Fall can be an odd time of the year for the real estate market, especially with regard to home sales. There is a belief that the real estate market comes to a grinding halt after Labor Day and this is simply not the case. In fact fall sees the second busiest season for real estate transactions, behind only the spring season which begins around mid-March. Yes, many with school age children like to have their moves wrapped up by the end of August but this does not mean that homes do not move this time of year. This effect does, however, lead to a but if a buyer’s market especially for those without kids which, in seasons of low availability for single family homes, can help drive the health of the market as a whole. What we are seeing in New Castle County is a steady healthy market for buyers and sellers as our county currently has a very strong economy and tremendous credit rating. In fact, it was recently noted that of 3,007 U.S. counties, New Castle County continues to be one of only 39, fewer than 2 percent, to receive a Triple A rating from all three major credit rating agencies (Standard & Poor’s, Moody’s and Fitch Ratings).
In Delaware, we see a specific uptick this time of year for vacation homes sold downstate. Fall is a great time of year to buy or sell a vacation home. Sellers get to close out the high season and get revenue from last minute summer rentals, while still having time to prep the home for sale. Buyers have an opportunity to purchase a vacation home with plenty of time in the off season to make changes before spring and summer arrive.
Whether you are buying or selling a home north or south of the canal, make sure you are choosing the right attorney to represent your interests before and at closing. If you have any questions about buying or selling a home in Delaware, call our offices today to learn more about meeting with one of our experienced real estate attorneys.