The first state to ratify the Constitution, Delaware has a rich history that dates back past the birth of America. Although one of the smallest states in the country, it actually has one of the biggest impacts on the nation’s economy. Like many other northeastern states, Delaware has a lot of influence from the many different businesses and institutions established in the state. Many of the nation’s top corporations are located in the state. The state has very business friendly laws that make the state an attractive location for corporations. Conveniently located between Philadelphia and Baltimore, the state has numerous opportunities available in employment, recreation, and housing.

Although small in size, the state borders a number of different states which include: Pennsylvania to the north; New Jersey, separated by the Delaware River, to the east; and Maryland to the west. Beautiful beaches line the coast along the east and low flat plains encompass most of the rest of the state. The state actually has the lowest elevation of any in the nation, with the highest point only 450 feet above sea level. Roughly 60% of the state’s population resides in the northern part of the state in New Castle County. New Castle is home to the largest city in the state, Wilmington. The other counties in the state are Kent county in central Delaware, home to the state’s capitol and second largest city; and Sussex county in southern Delaware, which hosts many popular beach towns like Rehoboth Beach. Read more »

Wilmington’s location provides an easy commute to both Philadelphia and Baltimore, although numerous opportunities are available within the city limits. Wilmington is the economic center of the state. With a population of 72,826; it has a smaller feel than the huge cities that surround it. Population continues to increase as more people find it a great place to live with safe neighborhoods and a unique Delaware atmosphere. The downtown area is actually one of the safest in the nation since recently installing surveillance cameras that cover the entire downtown. Many of the biggest businesses in the country are located in the city. Wilmington is actually the center for corporations with 60% of all the Fortune 500 companies located there. The city is also the national center for credit card companies. Bank of America, Chase Card Services, and Barclay’s Bank of Delaware are all headquartered in the city.
The economy of the state has relied heavily on Wilmington as the leading revenue producer and largest job market. Other cities, like Dover, have played a significant part in the state’s economy. The Dover Air Force base and U.S. Air Mobility Command center are located in Dover and create thousands of jobs for the state. Beach resorts have also helped to fuel the state’s economy from the large amount of tourism in the summer months. Rehoboth Beach is one of the most popular beaches on the East Coast and self proclaims to be the “nation’s summer capitol.” Tourism helps to bring thousands of people into the state and offers one of the most exciting housing markets for home buyers.

Sales Trends
Housing sales in Delaware have experience growth in recent years as more and more people move to the state. The economy is doing well from the many different corporations that pay taxes to the state. A stable economy has helped to maintain housing prices at reasonable levels. Buyers in the Delaware market are not afraid of the stability of the market. Many areas like Rehoboth Beach and Dover have experienced rapid growth in new home sales as more jobs are created and first time buyers aren’t afraid of the risks. The Delaware market should see an increase in sales as many of the state’s largest businesses start to turn around on profit margins.  « Close »