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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Dover. Low rates with falling home prices makes a home purchase a great value! Call now for more information at
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| Average Home Price | $200,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 10-15% |
| Average Time on Market | More than 120 days |
| Best Selling Price Range | $200,000 - $249,000 |
| Worst Selling Price Range | $350,000 - $399,000 |
| Prices As % of Asking Price | 85-90% |
| Existing Home Prices for the past 90 days are? | Decreasing |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Dover is | Decreasing |
| Seller Activity for the past 90 days in Dover is? | Decreasing |
| Multiple Offers? | No |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 40-45% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Yes there is money available but alot of hoops to jump through to get to it,banks are still asking for all kinds of things to get an approval and appraisels are tough as no comps to use in some areas |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Good economic news |
| Nearest Metro Area | Dover |
| Housing Hot Spots | Most cities within the Kent County area are considered ’Housing Hotspots’ Smyrna seems to be a good one right now. |
| Average Sold Price | $200,000 - View Graph Trend |
Dover Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
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Mortgage Rates
– Feb 23rd, 2012 –
---------------------------------
30 yr. fixed rate: 3.90%---------------------------------
15 yr. fixed rate: 3.17%
30 yr. jumbo rate: 4.68%
15 yr. jumbo rate: 3.96%
Home Values
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