The Long & Foster Market Minute
Focus On: Sussex County Housing Market January 2017
Units Sold
264
Active Inventory
2,738
Median Sale Price
$257,495
Days On Market
126
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 14%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -7%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in January, with 264 sold this month in Sussex County Real Estate versus 375 last month, a decrease of 30%. This month's total units sold was higher than at this time last year, an increase of 14% versus January 2016.

Click here to compare the units sold of this area against other locations.
Active Inventory
Versus last year, the total number of homes available this month is lower by 411 units or 13%. The total number of active inventory this January was 2,738 compared to 3,149 in January 2016. This month's total of 2,738 is lower than the previous month's total supply of available inventory of 2,787, a decrease of 2%.

Click here to compare the active inventory of this area against other locations.
Median Sale Price
Last January, the median sale price for Sussex County Homes was $264,000. This January, the median sale price was $257,495, a decrease of 2% or $6,505 compared to last year. The current median sold price is 14% lower than in December.

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

Click here to compare the median sale price of this area against other locations.
New Listings
483
Current Contracts
329
Sold Vs. List Price
97.2%
Months of Supply
10.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
No Change
Vs. Year Ago
Up 46%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Down -24%
Vs. Year Ago
Months of Supply
In January, there was 10.4 months of supply available in Sussex County, compared to 13.6 in January 2016. That is a decrease of 24% 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.

Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts
This month there were 483 homes newly listed for sale in Sussex County, which is similar to the amount in January 2016. There were 329 current contracts pending sale this January compared to 225 a year ago. The number of current contracts is 46% higher than last January.

Click here to compare the new listings of this area against other locations.

Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In January, the average sale price in Sussex County was 97.2% of the average list price, which is 0.9% lower than at this time last year.

Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market
This month, the average number of days on market was 126, lower than the average last year, which was 136, a decrease of 7%.

Click here to compare the days on market of this area against other locations.
*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.