Nearly $700 million of real estate has changed hands in southern Delaware during the first six months of 2016, according to data released recently by the Sussex County Association of Realtors (SCAOR).

SCAOR’s “2016 Midyear Report” indicates several points of positive data, including residential homes selling for an average of $309,320 thus far in the current calendar year. Residential properties have also remained on the market for an average of just 146 days, or less than five months, as homes continue to sell and the market remains strong in Sussex County.

These robust sales figures are again led by a vibrant coastal market, with home sales on the eastern half of the county continuing to be popular with locals, as well as with second homeowners. This is especially true during the current warm weather season, which will last for several more weeks.

“We’re definitely enjoying another in a long string of positive data cycles, as homes continue selling and people continue moving to Sussex County,” says Frank Serio, 2016 president of SCAOR. “I don’t know if you would officially call this a ‘boom market,’ but real estate remains very strong in the region, particularly in or near the coastal areas.”

Residential home sales for the first half of 2016 have accounted for nearly $650 million, with the additional $45 million coming from other categories, including farms, land and commercial properties.

In total, 2,064 residential properties have been sold in Sussex County thus far in 2016.

“As we have been for several years now, we are extremely encouraged by this data and we certainly expect more of the same for the foreseeable future,” says Serio. “Sussex County continues to be a great place to live, for many reasons, and people still want to move here. Our beaches are a main draw, as are our low taxes and our proximity to major urban areas.

“As is always the case in real estate, it’s location, location, location. And our location has certainly benefited the real estate market here in southern Delaware.”

To summarize, midyear figures reveal that nearly 2,400 real estate transactions were completed in Sussex County between January and June. In addition to residential sales, nearly $43 million in sales of lots and land, more than $1.5 million in farms and more than $12 million in commercial sales transactions were completed in the first six months of the year.

The data released by SCAOR is compiled from the Association's Multiple Listing Service (MLS), which tracks all data regarding real estate transactions in Sussex County.

The Sussex County Association of Realtors was chartered in 1949 and has steadily grown in size, scope and mission during its nearly seven decades in Sussex County. It is a professional trade association with goals of carrying out a program of education and advocacy for real estate in the county.

SCAOR is a resource for the public, as well as a recognized advocate for property rights and property owners in Sussex County. The association also monitors legislative issues on the local, state and national levels that may impact home ownership in the area.

To read more about issues related to Sussex County’s real estate industry, visit SCAOR’s website at www.scaor.com.