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Sold Properties in August 2017
Home Sales in Southern Delaware
Land Sales in Southern Delaware
* Info. from the Sussex County Association of Realtors MLS
Monthly Trivia
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Market Activity for August:
As of the end of August, there were a total of 2,187 homes on the market, an increase of 1% from the previous month’s end inventory of 2,187. This represents an 8-month’s supply of inventory, with a current absorption rate of 282 homes sold per month thus far in 2017.
Closed Sales
For the first 8-months of 2017, sales of single-family homes in Sussex County are up 20% over last year, with 2,253 homes sold compared to 1,878 for the first eight months of 2016. The areas with the largest increase were the Bethany/Ocean View/Fenwick Area, up 32% and the Angola/Long Neck/Millsboro, up 24%. The area with the largest decrease is the Milton Area, down 3% from last year to date.
About Property Taxes
Depending on the area where you live, your new home is subject to annual property taxation by your local appraisal district to pay for schools, infrastructure, and other public needs. But what you may not realize is that the rate you pay may be wildly different from the rate your neighbors pay.
If you just purchased your home, your assessment for the following year is likely to be much higher than it is now, so you can’t count on paying the same amount in escrow that you’re paying now.
What About Delaware? Delaware has some of the lowest property taxes in the country. Read More . . .