The Long & Foster Market Minute

Focus On: Delaware County Housing Market October 2018

Units Sold
527
Active Inventory
1,588
Median Sale Price
$215,000
Days On Market
46
Down -3%
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 527 sold this month in Delaware County Real Estate versus 539 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 3% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 640 units or 29%. The total number of active inventory this October was 1,588 compared to 2,228 in October 2017. This month's total of 1,588 is lower than the previous month's total supply of available inventory of 1,740, a decrease of 9%.

Median Sale Price
Last October, the median sale price for Delaware County Homes was $201,294. This October, the median sale price was $215,000, an increase of 7% or $13,706 compared to last year. The current median sold price is 8% higher than in September.

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


New Listings
675
Current Contracts
572
Sold Vs. List Price
97.6%
Months of Supply
3.0
Down -8%
Vs. Year Ago
Down -3%
Vs. Year Ago
No Change
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In October, there was 3.0 months of supply available in Delaware County, compared to 4.1 in October 2017. That is a decrease of 26% 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.

New Listings & Current Contracts
This month there were 675 homes newly listed for sale in Delaware County compared to 734 in October 2017, a decrease of 8%. There were 572 current contracts pending sale this October compared to 588 a year ago. The number of current contracts is 3% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Delaware County was 97.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 46, lower than the average last year, which was 56, a decrease of 18%.

The Long & Foster Market Minute
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.