Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1883-11-01
NEWS CAUGHT ON THE FLY
YOLRSFEST PROCEEDS HANDED
OYER.
Progress of the work on Market
street Bridge-An over supply OF
Small Houses. Oh eaper Rents Prob
able for Next Year.

The price OF real estate in this city, 81
elsewhere, has suffered slight decline IL
the past few months. Dealers here admit
though some with considerable reluctance
that the market is dull aud drsegy. A
to the extent Of the existing decline in
prices 1t is ditionlt to determine with any
degree of accuracy, as the opinions ex-
pressed on this point are dissimilar. A
leading dealer, who has the handling Of
much property in the city, and
who takes hopeful view Of
the matter, stated to an Every EVEN
ING reporter yesterday that the term
anomalous" exactly applied to the
condition OF the market. Discussing the
matter thoughtfully and in bIief, he
stated that prices for properties we'll
located for live business purposes had
declined but very little If any. Sew
eral instances were cited where real
estate in eligible locations had been
sold quite recently at q fair valuation.
There Is general understanding, as he
stated, that the market is less active
than year ago, and quotations are
lower. Public sales for the present
season have been fairly good, and good
average price WAS realized for the proper
ties disposed Of.
The most demand at present comes for
large houses, which indicates that Will
mington has increased in moneyed popu-
lstion. Then again for quite small
houses of four or FIVE rooms that can be
sold at from $500 to 81 200 there is more
of an inquiry than can be promptly sup.
piled. This comes from laboring people
,ul thatr ond a.,~faru
to own their own homes and leave off
rent paying. Larger sized houses, which
are also ostslogued as small, are not in
80 ready demand either by renters or
purchasers.
1t is indicated that there will be- over
100 small houses without tenants next
year, valued at say from $l,260 to
$2,500. Up to the first of the present
month SIT permits for the erection Of
buildings had been issued by the Chief
Engineer, which is one more than was
issued for the corresponding period of
last year. In all last year there were $40
buildings erected, and in 1888 there will
be quite as many, If not more.
In the opinion OF the gentleman inter
viewed 80 many houses on the market will
bring about reduction in rents. The
anticipated surplus ofhousesis attributed
to the continued operations of builders,
who have prolonged their work when
there was really no demand for them to
do so. A temporary cessation will prob
ably adjust the matter in a short time.
The dullness OF the real estate market
is attributed to the prostrate condition of
trade in general. In this city many
mechanics and laboring men are idle and
work among manufacturers generally, is
slack. Business men and those who
have given the matter considerable
thought, have strong feeling that
business all over the country will improve
with the coming spring. Concluding, the
dealer stated that Wilmington had every
thing in its favor for prosperity. There
will be au output of $1,000, COO worth
OF manufactures this year and the city
has the balance of trade in its favor. In
building operations there has been a
great deal of activity, and relatively
compared with Philadelphia size three
houses were built here last year to one
there. In addition there are many
acquisitions and improvements to the
city that will contribute to its Importance
and material prosperity.