The Long & Foster Market Minute

Focus On: Delaware Housing Market October 2021

Units Sold
1,684
Active Inventory
1,971
Median Sale Price
$326,000
Days On Market
22
Down -6%
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -53%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 1,684 sold this month in Delaware Real Estate versus 1,733 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 6% versus October 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 808 units or 29%. The total number of active inventory this October was 1,971 compared to 2,779 in October 2020. This month's total of 1,971 is lower than the previous month's total supply of available inventory of 2,250, a decrease of 12%.

Median Sale Price
Last October, the median sale price for Delaware Homes was $295,000. This October, the median sale price was $326,000, an increase of 11% or $31,000 compared to last year. The current median sold price is 2% 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
1,747
Current Contracts
1,739
Sold Vs. List Price
100.3%
Months of Supply
1.2
Down -11%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In October, there was 1.2 months of supply available in Delaware, compared to 1.5 in October 2020. 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.

New Listings & Current Contracts
This month there were 1,747 homes newly listed for sale in Delaware compared to 1,963 in October 2020, a decrease of 11%. There were 1,739 current contracts pending sale this October compared to 1,815 a year ago. The number of current contracts is 4% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Delaware was 100.3% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 47, a decrease of 53%.

The Long & Foster Market Minute *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.
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.