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Old 02-27-2021, 06:09 PM
 
1,112 posts, read 1,475,779 times
Reputation: 694

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I must admit that I have not been paying attention to see what the houses are doing near me.
I just went on realtor.com and there are no houses on sale in my neighborhood.
Many of the houses in the area show pending or contingent.

I am in central NJ.

Is it the same in Delaware?
Is Delaware getting people who are fleeing NJ?
NJ are getting people who are fleeing NYC.

.
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Old 02-28-2021, 07:21 AM
 
Location: Ocean View, DE
1,859 posts, read 3,372,797 times
Reputation: 1282
Oh yes, it is crazy here as well. I live in an older community in Ocean View, and even old, dumpy houses will sell in less than two weeks as is. New homes or ones in better shape will sell as soon as they go up for sale. Asking price or better is guaranteed, and bidding wars have become the norm. I wish I could sell my house right now and move south because we'd really make out well and not even have to put any effort into selling it, but my husband has a couple more years until he can retire and we can move away.

People from the city are moving here and that is how it has always been--areas such as Baltimore, Philly, Pittsburgh, Wilmington, etc. Oh, and yes--New Jersey and New York. My development is loaded with people from Wilmington, MD, and NY.
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Old 02-28-2021, 10:19 AM
 
915 posts, read 455,109 times
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We have a second home in a development in OV. Houses and condos are selling at a brisk pace. The town house next door to us, identical floor plan, just went under contract for $70,000 more than we paid 3 years ago.

There were a number of people there this past summer, working remotely, and I think that may have made people aware of the advantage of having a second home away from a major metropolitan area.
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Old 03-01-2021, 07:30 PM
 
8,223 posts, read 11,888,860 times
Reputation: 17296
I'm not a Realtor, but I work in the real estate environment. Tomorrow, I'll be working in subdivisions off Rt. 24 (Lewes addresses) and many new construction tract homes are selling for over $600,000.....for a 2200-2500 sq.ft. house. They're selling like hot-cakes and the builders can't keep up. I often hear it takes 9-10 months (start to finish) move in time for new construction.
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Old 03-01-2021, 07:57 PM
 
1,112 posts, read 1,475,779 times
Reputation: 694
This is so discouraging.
It is like another housing bubble.
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Old 03-02-2021, 09:35 AM
 
Location: Former LI'er Now Rehoboth Beach, DE
10,347 posts, read 13,063,432 times
Reputation: 10743
Quote:
Originally Posted by ieee488 View Post
This is so discouraging.
It is like another housing bubble.
No, it actually IS a housing bubble. These are cyclical and it will happen again. Interest rates will go up and prices of homes nationwide will decline. Happens all the time.
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Old Yesterday, 10:22 PM
 
Location: Conn.
904 posts, read 1,052,772 times
Reputation: 839
Quote:
Originally Posted by rdlr View Post
I'm not a Realtor, but I work in the real estate environment. Tomorrow, I'll be working in subdivisions off Rt. 24 (Lewes addresses) and many new construction tract homes are selling for over $600,000.....for a 2200-2500 sq.ft. house. They're selling like hot-cakes and the builders can't keep up. I often hear it takes 9-10 months (start to finish) move in time for new construction.
I don’t get down to that area very often, but when I do I find all the building going on astounding. I’m sure natives of the area aren’t fond of all the building.
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Old Today, 09:36 AM
 
8,223 posts, read 11,888,860 times
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Quote:
Originally Posted by retiree2011 View Post
I don’t get down to that area very often, but when I do I find all the building going on astounding. I’m sure natives of the area aren’t fond of all the building.
I don't live in Sussex, but in Kent County, so I can't speak for Sussex County residents. However, my work takes me all over the state.
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Old Today, 08:11 PM
 
1,112 posts, read 1,475,779 times
Reputation: 694
What are 55+ communities like in Delaware?
Most of the ones in NJ are gated.

Are the homes in one harder to sell?
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