The Long & Foster Market Minute
Focus On: Sussex County Housing Market April 2017
Units Sold
366
Active Inventory
2,949
Median Sale Price
$289,450
Days On Market
133
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 11%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 1%
Vs. Year Ago
No Change
Vs. Year Ago
Units Sold
There was a decrease in total units sold in April, with 366 sold this month in Sussex County Real Estate versus 384 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 11% versus April 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 429 units or 13%. The total number of active inventory this April was 2949 compared to 3,378 in April 2016. This month's supply remained stable as compared to last month.

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Median Sale Price
Last April, the median sale price for Sussex County Homes was $286,000. This April, the median sale price was $289,450, an increase of 1% or $3,450 compared to last year. The current median sold price is 3% higher than in March.

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
622
Current Contracts
469
Sold Vs. List Price
97.2%
Months of Supply
8.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -9%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -21%
Vs. Year Ago
Months of Supply
In April, there was 8.1 months of supply available in Sussex County, compared to 10.2 in April 2016. That is a decrease of 21% 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 622 homes newly listed for sale in Sussex County compared to 686 in April 2016, a decrease of 9%. There were 469 current contracts pending sale this April compared to 418 a year ago. The number of current contracts is 12% higher than last April.

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Sale Price to List Price Ratio
In April, the average sale price in Sussex County was 97.2% of the average list price, which is 0.7% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 133, 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.