PIKE CREEK, MILLTOWN, AND HOCKESSIN HOUSING MARKET DATA

There was a decrease in total units sold in March, with 31 sold this month in Pike Creek, Milltown, and Hockessin Real Estate versus 36 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 9% versus March 2024.

Versus last year, the total number of homes available this month is lower by 10 units or 23%. The total number of active inventory this March was 34 compared to 44 in March 2024. This month's total of 34 is lower than the previous month's total supply of available inventory of 36, a decrease of 6%.

Last March, the median sale price for Pike Creek, Milltown, and Hockessin Homes was $386,000. This March, the median sale price was $441,500, an increase of 14% or $55,500 compared to last year. The current median sold price is 11% higher than in February.

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

In March, there was 1.1 months of supply available in Pike Creek, Milltown, and Hockessin, compared to 1.3 in March 2024. That is a decrease of 15% 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.

This month there were 55 homes newly listed for sale in Pike Creek, Milltown, and Hockessin compared to 64 in March 2024, a decrease of 14%. There were 53 current contracts pending sale this March compared to 61 a year ago. The number of current contracts is 13% lower than last March.

In March, the average sale price in Pike Creek, Milltown, and Hockessin was 101.5% of the average list price, which is 0.6% higher than at this time last year.

This month, the average number of days on market was 18, higher than the average last year, which was 17, an increase of 6%.





FOCUS ON: PIKE CREEK, MILLTOWN, AND HOCKESSIN HOUSING MARKET			MARCH 2025

Zip Code(s): 19808 and 19707
Units Sold 31	Active Inventory 34	Median Sale Price $441,500	Days On Market 18

Down -9% Vs. Year Ago	Down -23% Vs. Year Ago	Up 14% Vs. Year Ago	Up 6% Vs. Year Ago


		Units Sold There was a decrease in total units sold in March, with 31 sold this month in Pike Creek, Milltown, and Hockessin Real Estate versus 36 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 9% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 10 units or 23%. The total number of active inventory this March was 34 compared to 44 in March 2024. This month's total of 34 is lower than the previous month's total supply of available inventory of 36, a decrease of 6%.
		Median Sale Price Last March, the median sale price for Pike Creek, Milltown, and Hockessin Homes was $386,000. This March, the median sale price was $441,500, an increase of 14% or $55,500 compared to last year. The current median sold price is 11% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 55	Current Contracts 53	Sold Vs. List Price 101.5%	Months of Supply 1.1

Down -14% Vs. Year Ago	Down -13% Vs. Year Ago	Up 0.6% Vs. Year Ago	Down -15% Vs. Year Ago


		Months of Supply In March, there was 1.1 months of supply available in Pike Creek, Milltown, and Hockessin, compared to 1.3 in March 2024. That is a decrease of 15% 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 55 homes newly listed for sale in Pike Creek, Milltown, and Hockessin compared to 64 in March 2024, a decrease of 14%. There were 53 current contracts pending sale this March compared to 61 a year ago. The number of current contracts is 13% lower than last March.
		Sale Price to List Price Ratio In March, the average sale price in Pike Creek, Milltown, and Hockessin was 101.5% of the average list price, which is 0.6% higher than at this time last year. Days on Market This month, the average number of days on market was 18, higher than the average last year, which was 17, an increase of 6%.


	Pike Creek, Milltown, and Hockessin are defined as properties listed in zip code/s 19808 and 19707.
	*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.