Delaware has one of the most unique housing markets in the country. It’s a popular place to buy a vacation home but also an ideal place for retirees to live. Bayside has a mix of both types of residents, and we’re happy to say that everyone who moves into our community is pleased with their decision.
Here at Bayside, we like to watch the housing market and the local economy closely, as it affects our current and future residents. Here is the latest update from the Delaware housing market and how soon-to-be Bayside residents can use it to their advantage:
CoreLogic, a real estate data provider, notes that Delaware has seen a rise in home values since April, as reported in their most recent House Price Index (HPI) Report. Their monthly HPI indicated a 2.5 percent gain in overall home values for the state. This is a great improvement from the 1.1 percent drop in June, and a 1.3 percent drop in July of this year.
Non-distressed sales rose 5.2 percent, which is a better indicator of how well the housing market is doing. Non-distressed sales also saw a 3.19 percent increase over the past three months, a promising upwards trend. National home prices are also showing advancements, with a 12.4 percent increase in prices since last year. On a year-over-year basis, CoreLogic expects home prices to rise 12.7 percent across the country.
Fenwick Island, along with the surrounding area, is filled with homes of high value and demand. The new home communities in Sussex County, like Bayside, are a popular choice for second-time homebuyers and retirees who want to benefit from the tax advantages available in Delaware.
Fenwick Island is one of the most desirable place to live in Delaware because of its beautiful homes and endless coastal attractions. Living in Bayside means living close to everything you would want in your dream home: a short distance from the beach, Delaware’s first ever Jack Nicklaus Signature Golf Course, a charming town center with a Harris Teeter grocery store and other shops, services, and an array of neighborhood amenities that make loving this community effortless.