The Long & Foster Market Minute

Focus On: Smyrna, East Dover, and Little Creek Housing Market September 2021

Zip Code(s): 19977, 19902, 19961 and 19901
Units Sold
95
Active Inventory
131
Median Sale Price
$290,000
Days On Market
16
Down -2%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 95 sold this month in Smyrna, East Dover, and Little Creek Real Estate versus 76 last month, an increase of 25%. This month's total units sold was lower than at this time last year, a decrease of 2% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 27%. The total number of active inventory this September was 131 compared to 179 in September 2020. This month's total of 131 is lower than the previous month's total supply of available inventory of 140, a decrease of 6%.

Median Sale Price
Last September, the median sale price for Smyrna, East Dover, and Little Creek Homes was $250,000. This September, the median sale price was $290,000, an increase of 16% or $40,000 compared to last year. The current median sold price is 4% 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
109
Current Contracts
108
Sold Vs. List Price
100.8%
Months of Supply
1.4
Up 11%
Vs. Year Ago
Up 37%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In September, there was 1.4 months of supply available in Smyrna, East Dover, and Little Creek , compared to 1.8 in September 2020. That is a decrease of 25% 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 109 homes newly listed for sale in Smyrna, East Dover, and Little Creek compared to 98 in September 2020, an increase of 11%. There were 108 current contracts pending sale this September compared to 79 a year ago. The number of current contracts is 37% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Smyrna, East Dover, and Little Creek was 100.8% 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 16, lower than the average last year, which was 30, a decrease of 47%.

The Long & Foster Market Minute Smyrna, East Dover, and Little Creek are defined as properties listed in zip code/s 19977, 19902, 19961 and 19901.
*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.