The Long & Foster Market Minute

Focus On: New Castle, Red Lion, and Delaware City Housing Market September 2021

Zip Code(s): 19720 and 19706
Units Sold
82
Active Inventory
70
Median Sale Price
$240,500
Days On Market
17
Up 26%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 82 sold this month in New Castle, Red Lion, and Delaware City Real Estate versus 79 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 26% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 1%. The total number of active inventory this September was 70 compared to 69 in September 2020. This month's total of 70 is lower than the previous month's total supply of available inventory of 88, a decrease of 20%.

Median Sale Price
Last September, the median sale price for New Castle, Red Lion, and Delaware City Homes was $220,000. This September, the median sale price was $240,500, an increase of 9% or $20,500 compared to last year. The current median sold price is 5% 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.


New Listings
91
Current Contracts
94
Sold Vs. List Price
101.3%
Months of Supply
0.9
Up 25%
Vs. Year Ago
Up 47%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In September, there was 0.9 months of supply available in New Castle, Red Lion, and Delaware City, compared to 1.1 in September 2020. That is a decrease of 20% 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 91 homes newly listed for sale in New Castle, Red Lion, and Delaware City compared to 73 in September 2020, an increase of 25%. There were 94 current contracts pending sale this September compared to 64 a year ago. The number of current contracts is 47% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in New Castle, Red Lion, and Delaware City was 101.3% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 17, higher than the average last year, which was 15, an increase of 13%.

The Long & Foster Market Minute New Castle, Red Lion, and Delaware City are defined as properties listed in zip code/s 19720 and 19706.
*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.