The Long & Foster Market Minute

Focus On: Delaware County Housing Market October 2022

Units Sold
517
Active Inventory
650
Median Sale Price
$287,000
Days On Market
21
Down -27%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -5%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 517 sold this month in Delaware County Real Estate versus 581 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 27% versus October 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 197 units or 23%. The total number of active inventory this October was 650 compared to 847 in October 2021. This month's total of 650 is lower than the previous month's total supply of available inventory of 734, a decrease of 11%.

Median Sale Price
Last October, the median sale price for Delaware County Homes was $275,000. This October, the median sale price was $287,000, an increase of 4% or $12,000 compared to last year. The current median sold price is 4% higher than in September.

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


New Listings
581
Current Contracts
541
Sold Vs. List Price
100.5%
Months of Supply
1.3
Down -27%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In October, there was 1.3 months of supply available in Delaware County. 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 581 homes newly listed for sale in Delaware County compared to 796 in October 2021, a decrease of 27%. There were 541 current contracts pending sale this October compared to 742 a year ago. The number of current contracts is 27% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Delaware County was 100.5% 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 21, lower than the average last year, which was 22, a decrease of 5%.

The Long & Foster Market Minute
*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.