PIKE CREEK, MILLTOWN, AND HOCKESSIN HOUSING MARKET DATA

There was a decrease in total units sold in July, with 43 sold this month in Pike Creek, Milltown, and Hockessin Real Estate versus 60 last month, a decrease of 28%. This month's total units sold was lower than at this time last year, a decrease of 22% versus July 2024.

Versus last year, the total number of homes available this month is lower by 16 units or 23%. The total number of active inventory this July was 53 compared to 69 in July 2024. This month's total of 53 is lower than the previous month's total supply of available inventory of 62, a decrease of 15%.

Last July, the median sale price for Pike Creek, Milltown, and Hockessin Homes was $395,000. This July, the median sale price was $425,000, an increase of 8% or $30,000 compared to last year. The current median sold price is 2% lower than in June.

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

In July, there was 1.2 months of supply available in Pike Creek, Milltown, and Hockessin. The amount of supply is similar compared to 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 51 homes newly listed for sale in Pike Creek, Milltown, and Hockessin compared to 70 in July 2024, a decrease of 27%. There were 53 current contracts pending sale this July compared to 47 a year ago. The number of current contracts is 13% higher than last July.

In July, the average sale price in Pike Creek, Milltown, and Hockessin was 99.4% of the average list price, which is 1.3% lower than at this time last year.

This month, the average number of days on market was 13, lower than the average last year, which was 14, a decrease of 7%.





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

Zip Code(s): 19808 and 19707
Units Sold 43	Active Inventory 53	Median Sale Price $425,000	Days On Market 13

Down -22% Vs. Year Ago	Down -23% Vs. Year Ago	Up 8% Vs. Year Ago	Down -7% Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 43 sold this month in Pike Creek, Milltown, and Hockessin Real Estate versus 60 last month, a decrease of 28%. This month's total units sold was lower than at this time last year, a decrease of 22% versus July 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 16 units or 23%. The total number of active inventory this July was 53 compared to 69 in July 2024. This month's total of 53 is lower than the previous month's total supply of available inventory of 62, a decrease of 15%.
		Median Sale Price Last July, the median sale price for Pike Creek, Milltown, and Hockessin Homes was $395,000. This July, the median sale price was $425,000, an increase of 8% or $30,000 compared to last year. The current median sold price is 2% lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 51	Current Contracts 53	Sold Vs. List Price 99.4%	Months of Supply 1.2

Down -27% Vs. Year Ago	Up 13% Vs. Year Ago	Down -1.2% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In July, there was 1.2 months of supply available in Pike Creek, Milltown, and Hockessin. The amount of supply is similar compared to 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 51 homes newly listed for sale in Pike Creek, Milltown, and Hockessin compared to 70 in July 2024, a decrease of 27%. There were 53 current contracts pending sale this July compared to 47 a year ago. The number of current contracts is 13% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Pike Creek, Milltown, and Hockessin was 99.4% of the average list price, which is 1.3% lower than at this time last year. Days on Market This month, the average number of days on market was 13, lower than the average last year, which was 14, a decrease of 7%.


	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.