Take a look at our year-end local market summaries and let's connect to discuss how the trends impact your real estate plans in the days ahead. We’ve also included some timely home and lifestyle-related articles and video to keep you informed on the latest in everything from personal finance advice to home decor trends. We're optimistic about the year ahead, and we look forward to serving you in 2023 and beyond. We're grateful you've put your trust in Patterson-Schwartz. But in the midst of an ever-changing real estate landscape, this quote from Ray Brown always holds true: "The best time to buy a house is always five years ago!" All homes for sale in Delaware, Pennsylvania and Maryland are listed at Patterson-Schwartz Real Estate. For more than 60 years, we have helped people buy & sell in every market cycle. 2,680 likes 202 talking about this 2,257 were here. ![]() Patterson-Schwartz sales associates offer you exceptional knowledge of market conditions and a commitment to represent you honestly and professionally. Since our founding in 1961, we have been committed to providing superior guidance and service to our customers. Markets go up, and markets make adjustments. Patterson-Schwartz Real Estate, Hockessin, Delaware. Patterson-Schwartz consistently ranks as the market share leader in New Castle County, Delaware and is among the top real estate companies in the surrounding. The Patterson-Schwartz Greenville Sales Center is conveniently located just outside the City of Wilmington near the Rt. Patterson-Schwartz is the area's leading real estate company. There's optimism that rates will return to the mid-5%'s later this year. Patterson-Schwartz Real Estate is an organization of people committed to excellence, integrity and quality service. (not just Patterson-Schwartz listings) or use our GPS Search. Rates peaked around 7% in early November, and ended the year at 6.5%. Connect with us: Connect with us on Facebook Connect with us on LinkedIn Connect with us on Instagram Email Patterson-Schwartz. Patterson-Schwartz consistently ranks as the market share leader in New Castle County, Delaware and is among the top real estate companies in the surrounding areas of Kent County, Delaware Southern Chester County, Pennsylvania. We began 2022 with 30-year mortgage rates just above 3%. Patterson-Schwartz Real Estate is an organization of people committed to excellence, integrity and quality service. This market summary is powered by Altos Research – click here to run a free report for your area.Happy New Year from Patterson-Schwartz Real Estate! A review of 2022 shows a tale of two markets, as talks of rising interest rates and inflation stole the headlines for much of the year. By the end of the year, inventory had increased to 1,285 homes on the market (+21%), with a median home price of $473,500 (+18%) and an average price per square foot of $260 (+18%).Īt the start of 2022, the median days on market (DOM) was 63 days – by the end of the year, median DOM had increased to 77 days.ĭelaware started the year with 17% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 38% of Delaware homes for sale had taken a price cut.įinally, Altos’ proprietary Market Action Index (MAI) shows that Delaware started 2022 as a strong seller’s market, with an MAI score of 48 by the end of the year, the MAI had dropped to 31 – a balanced buyer and seller’s market. Chris Patterson & Associates, realtor for buyers and sellers with homes for sale in Delaware, Pennsylvania. ![]() Berkshire Hathaway HomeServices Fox & Roach, REALTORSĭownload the Rankings 2022 Market Summaryĭelaware started 2022 with a total of 1,061 single-family homes on the market, with a median home price of $400,000 and an average price per square foot of $220.
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