The Long & Foster Market Minute
Focus On: Sussex County Housing Market February 2017
Units Sold
252
Active Inventory
2,844
Median Sale Price
$264,000
Days On Market
155
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 20%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 3%
Vs. Year Ago
No Change
Vs. Year Ago
Units Sold
There was a decrease in total units sold in February, with 252 sold this month in Sussex County Real Estate versus 268 last month, a decrease of 6%. This month's total units sold was higher than at this time last year, an increase of 20% versus February 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 318 units or 10%. The total number of active inventory this February was 2,844 compared to 3,162 in February 2016. This month's total of 2,844 is higher than the previous month's total supply of available inventory of 2,785, an increase of 2%.

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Median Sale Price
Last February, the median sale price for Sussex County Homes was $257,000. This February, the median sale price was $264,000, an increase of 3% or $7,000 compared to last year. The current median sold price is 3% higher than in January.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
608
Current Contracts
416
Sold Vs. List Price
97.0%
Months of Supply
11.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 14%
Vs. Year Ago
Up 43%
Vs. Year Ago
No Change
Vs. Year Ago
Down -25%
Vs. Year Ago
Months of Supply
In February, there was 11.3 months of supply available in Sussex County, compared to 15.1 in February 2016. That is a decrease of 25% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 608 homes newly listed for sale in Sussex County compared to 532 in February 2016, an increase of 14%. There were 416 current contracts pending sale this February compared to 291 a year ago. The number of current contracts is 43% higher than last February.

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Sale Price to List Price Ratio
In February, the average sale price in Sussex County was 97.0% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 155, which is similar compared to a year ago.

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*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by SCAOR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of SCAOR or Long & Foster Real Estate, Inc.