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| Focus On: Sussex County Housing Market | February 2023 | ||
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| Units Sold 303 |
Active Inventory 1,118 |
Median Sale Price $495,000 |
Days On Market 65 |
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| Down -19% Vs. Year Ago |
Up 38% Vs. Year Ago |
Up 8% Vs. Year Ago |
No Change Vs. Year Ago |
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Units Sold
There was an increase in total units sold in February, with 303 sold this month in Sussex County Real Estate versus 263 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 19% versus February 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 307 units or 38%. The total number of active inventory this February was 1,118 compared to 811 in February 2022. This month's total of 1,118 is lower than the previous month's total supply of available inventory of 1,171, a decrease of 5%. |
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Median Sale Price
Last February, the median sale price for Sussex County Homes was $460,000. This February, the median sale price was approximately the same at $495,000. The current median sold price is 8% higher than in February 2022. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 479 |
Current Contracts 445 |
Sold Vs. List Price 103.3% |
Months of Supply 3.7 |
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| Down -8% Vs. Year Ago |
Up 1% Vs. Year Ago |
Up 0.9% Vs. Year Ago |
Up 70% Vs. Year Ago |
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Months of Supply
In February, there was 3.7 months of supply available in Sussex County, compared to 2.2 in February 2022. That is an increase of 70% 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. |
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New Listings & Current Contracts
This month there were 479 homes newly listed for sale in Sussex County compared to 519 in February 2022, a decrease of 8%. There were 445 current contracts pending sale this February compared to 442 a year ago. The number of current contracts is 1% higher than last February. |
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Sale Price to List Price Ratio
In February, the average sale price in Sussex County was 103.3% of the average list price, which is 0.9% higher than at this time last year. Days on Market
This month, the average number of days on market was 65, which is similar compared to a year ago. | |||
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| *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. |
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