Sussex County real estate continues upward trend

Sussex County real estate continues upward trend

It seems as though more and more people are catching on to something that Bayside residents already know – Sussex County is a very special place to own a home. According to recent data released by the Sussex County Association of Realtors (SCAOR), all segments of the Sussex County market showed sustained growth for the third quarter of 2013.

SCAOR reported that single-family home sales in the third quarter are up an impressive 21% from the same time period last year. This wasn’t much of a change from the 22% increase in the third quarter from 2011 to 2012, and we’re certainly not complaining.

Home sales weren’t the only market indicator showing year-over-year improvements – the nearly 2,900 homes sold through September this year sold at 14% higher price? than homes sold in the same time period last year. According to the data, the median selling price for a three-bedroom home in Sussex County was $248,008.

Though the SCAOR data primarily focuses on single-family homes, townhomes are an important part of the equation as well. According to the data, condominium and/or townhome sales accounted for more than $215 million in total sales in the third quarter. We’re proud to say that townhomes are coming soon to Bayside, and we’re looking forward to be able to offer future residents even more options when choosing our community.

These positive sales figures are nothing new for the southern Delaware real estate market, much to the delight of beach communities like Bayside. For over two years, SCAOR has released data reflecting a strong real estate industry in Sussex County. Current SCAOR president Bob McVey attributes the strength of the Sussex County real estate market to low tax rates, proximity to the ocean and high quality of life.

High quality of life is certainly something that attracts our residents to Bayside – we have only the highest standards for our new homes. Our luxurious facilities, including the first Jack Nicklaus Signature golf course in Delaware, complement our beautiful homes to create this high quality of life that Bayside residents enjoy. And we have to admit – being four miles from the beach doesn’t hurt either.

SOURCES: Sussex County Association of Realtors