PIKE CREEK, MILLTOWN, AND HOCKESSIN HOUSING MARKET DATA

There was an increase in total units sold in April, with 46 sold this month in Pike Creek, Milltown, and Hockessin Real Estate. This month's total units sold was lower than at this time last year.

Versus last year, the total number of homes available this month is lower by 12 units or 23%. The total number of active inventory this April was 41 compared to 53 in April 2024. This month's total of 41 is higher than the previous month's total supply of available inventory of 40, an increase of 3%.

Last April, the median sale price for Pike Creek, Milltown, and Hockessin Homes was $382,948. This April, the median sale price was approximately the same at $435,500. The current median sold price is 14% higher than in April 2024.

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

In April, there was 0.9 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 58 homes newly listed for sale in Pike Creek, Milltown, and Hockessin compared to 70 in April 2024, a decrease of 17%. There were 53 current contracts pending sale this April compared to 55 a year ago. The number of current contracts is 4% lower than last April.

In April, the average sale price in Pike Creek, Milltown, and Hockessin was 101.5% of the average list price, which is 0.7% lower 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 14, an increase of 29%.





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

Zip Code(s): 19808 and 19707
Units Sold 46	Active Inventory 41	Median Sale Price $435,500	Days On Market 18

Down -21% Vs. Year Ago	Down -23% Vs. Year Ago	Up 14% Vs. Year Ago	Up 29% Vs. Year Ago


		Units Sold There was an increase in total units sold in April, with 46 sold this month in Pike Creek, Milltown, and Hockessin Real Estate. This month's total units sold was lower than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is lower by 12 units or 23%. The total number of active inventory this April was 41 compared to 53 in April 2024. This month's total of 41 is higher than the previous month's total supply of available inventory of 40, an increase of 3%.
		Median Sale Price Last April, the median sale price for Pike Creek, Milltown, and Hockessin Homes was $382,948. This April, the median sale price was approximately the same at $435,500. The current median sold price is 14% higher than in April 2024. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 58	Current Contracts 53	Sold Vs. List Price 101.5%	Months of Supply 0.9

Down -17% Vs. Year Ago	Down -4% Vs. Year Ago	Down -0.7% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In April, there was 0.9 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 58 homes newly listed for sale in Pike Creek, Milltown, and Hockessin compared to 70 in April 2024, a decrease of 17%. There were 53 current contracts pending sale this April compared to 55 a year ago. The number of current contracts is 4% lower than last April.
		Sale Price to List Price Ratio In April, the average sale price in Pike Creek, Milltown, and Hockessin was 101.5% of the average list price, which is 0.7% lower 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 14, an increase of 29%.


	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.