Homes In Delaware For Sale Zillow (2024)

FAQs

Are home prices dropping in Delaware? ›

Delaware Housing Demand

There were only 25.5% of homes that had price drops, up from 21.0% of homes in June last year. There was a 100.4% sale-to-list price, down 0.41 points year over year. … Homes that sold above list price likely received multiple offers.

The average Delaware home value is $391,908, up 3.8% over the past year and goes to pending in around 9 days.

Whether you're a retiree or a young professional looking for exciting opportunities, Delaware has affordable housing for everyone. Let's explore some of the cheapest places to live in Delaware! Cheaper Houses: The median home sale price in Delaware is ~$316K.

With mortgage rates declining and the housing market stabilizing, 2024 is turning out to be a great time to buy a home in Delaware. May and June are particularly favorable for buyers, due to low competition and prices that are hard to beat.

Delaware does not impose a sales tax on goods and services. It is one of the five states in the United States that does not have a statewide sales tax. This means that consumers in Delaware do not need to pay any additional sales tax on purchases made within the state.

Number of Homes Sold in April 2024

There were 635 homes sold in Delaware this April, up 5.1% from April of 2023. About 41.6% of homes sell above list price, signifying a seller's market. Last year, the number of homes sold above list price was 1.3% lower.

#1: Wilmington. Taking the first spot on our list of most affordable places to live in Delaware is Wilmington. Home to about 71,600 residents and a median home sale price of $225,000, Wilmington is a great area to live in.

Delaware boasts the seventh lowest property tax rate of any state in the U.S. The average effective property tax rate is just 0.53%. That means that, on average, a home in the state of Delaware with a market value of $200,000 would have taxes of about $1,600 annually.

What credit score do you need for an FHA loan in Delaware? To qualify for an FHA loan in Delaware borrowers need to have a minimum mortgage specific credit score of 580.

Is it cheap to retire in Delaware? ›

Delaware is a retirement oasis. And with low tax living (including no sales tax and property taxes that are some of the lowest in the nation), a low cost of living, and that coveted, relaxed lifestyle of Coastal Delaware, it's no wonder people love living here.

However, if you're looking for a bargain, you're likely to find the lowest prices in the winter. There are fewer buyers over the winter months, so many sellers take their homes off the market for the season with the plan to start fresh in the spring.

Did you know homebuyers in all but 13 states must factor in “real estate transfer taxes” in their closing costs? While homebuyers in states like Alaska, Idaho, and Indiana are off the hook for this expense, Delaware residents need to cough up cash for this tax that's paid to local and state governments.

The Delaware housing market is somewhat competitive. The median sale price of a home in Delaware was $405K last. The median sale price per square foot in Delaware is $195, up 8.9% since last year.…

Delaware also has a relatively low property tax rate compared to other states. In 2023, the average rate was 0.62%, which is lower than the national average of 1.1%. This can help investors keep their expenses down, ultimately increasing their return on investment.

The Fed's rate hikes have slowed the housing market. Home sales have dropped sharply. But home prices have hit record levels. Because home values are not driven solely by interest rates but by a complicated mix of factors, it's hard to predict exactly how the Fed's efforts will affect the housing market.

$421,804. The average Maryland home value is $421,804, up 4.0% over the past year and goes to pending in around 7 days.