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FOCUS ON: DELAWARE HOUSING MARKET |
SEPTEMBER 2024 |
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Units Sold
1,081 |
Active Inventory
3,040 |
Median Sale Price
$410,000 |
Days On Market
35 |
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Down -1%
Vs. Year Ago |
Up 10%
Vs. Year Ago |
Up 6%
Vs. Year Ago |
Up 21%
Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in September, with 1,081 sold this month in Delaware Real Estate versus 1,169 last month, a decrease of 8%. This month's total units sold was lower than at this time last year, a decrease of 1% versus September 2023.
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Active Inventory
Versus last year, the total number of homes available this month is higher by 287 units or 10%. The total number of active inventory this September was 3,040 compared to 2,753 in September 2023. This month's total of 3,040 is lower than the previous month's total supply of available inventory of 3,259, a decrease of 7%.
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Median Sale Price
Last September, the median sale price for Delaware Homes was $385,000. This September, the median sale price was $410,000, an increase of 6% or $25,000 compared to last year. The current median sold price is 1% higher than in August.
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
1,375 |
Current Contracts
1,259 |
Sold Vs. List Price
100.5% |
Months of Supply
2.8 |
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Down -2%
Vs. Year Ago |
Up 19%
Vs. Year Ago |
No Change
Vs. Year Ago |
Up 11%
Vs. Year Ago |
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Months of Supply
In September, there was 2.8 months of supply available in Delaware, compared to 2.5 in September 2023. That is an increase of 11% 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 1,375 homes newly listed for sale in Delaware compared to 1,408 in September 2023, a decrease of 2%. There were 1,259 current contracts pending sale this September compared to 1,055 a year ago. The number of current contracts is 19% higher than last September.
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Sale Price to List Price Ratio
In September, the average sale price in Delaware was 100.5% 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 35, higher than the average last year, which was 29, an increase of 21%.
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*Defined as the counties of Kent, New Castle, and Sussex in DE |
*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. |
Information 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. |