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2020 Year End Market Activity
Current Market Conditions for Sussex County, DE
(as of 12/31/2020—based on sales of single-family homes)
Real Estate Market Watch for 2020 – Sussex County, Delaware
The statistics referenced here are based on single family homes derived from the Bright Multiple Listing Service.
Active Listings/Current Inventory
As of the end of December, there were a total of 823 homes on the market, a decrease of 9% from the previous month’s end inventory of 904. This represents less than a 2-month’s supply of inventory, with a current absorption rate of 417 homes sold per month in 2020. Of the total inventory, 53% (415 homes) of the homes available are new construction.
Closed Sales
For the year ending 2020, sales of single-family homes in Sussex County are up 21% from last year, with 5,001 homes sold compared to 4,148 for the year ending 2019. The areas with the largest increase were the Georgetown Area, up 60%, and the Lewes/Rehoboth/Dewey Area, up 31%. All areas of Sussex County showed an increase in the number of homes sold compared to the previous year.
Home Prices
The average sales price of single-family homes in Sussex County are up over last year, $467,120 compared to $414,529, a 13% increase. The median sales price was up by 13% over 2019, $350,490 compared to $310,000.
Pending Sales
Pending sales for the year ending 2020 were up by 29% from last year, with 5,038 homes going under contract through December of 2020, compared to 3,895 in 2019.
Days on Market
The average days on market for homes to go under contract has decreased by 13% for homes sold through December of this year compared to last. In 2020, the current average days on market is 79 days, compared to 91 days through December of 2019.
Sound Surroundings
Sound Surroundings
One of the greatest pleasures of owning your own home is being in better control of your environment, including the sounds you listen to. Imagine waking up to the cheerful melodies of chirping birds, instead of your neighbor’s clanging, banging and muffled conversations.
So, when you shop for a new home, consider one with a garden where you can attract songbirds to add sound, color and interest, such as robins, tanagers and finches. Songbirds can be captivating to watch as well as to listen to throughout the year.
Create an alluring habitat where the birds can feel at home by planting some native brush that will provide birds with their basic needs – food, protection and a place to nest. Be sure to scatter leaves, twigs and other small debris you’ve raked up under your shrubs and flower beds to attract insects and worms. The twig and leaf debris are great for songbirds to collect for nest building and insects will provide food for the birds.
Birds won’t nest where they don’t feel safe. You may have to add some natural barriers, such as dense shrubbery to protect songbirds from cats, opossums and other hunters.
Birdbaths are great accessories that say welcome to birds. Moving water, such as small fountains or drippers can create a “visual magnet” to attract birds to the bath. Birds splashing in the water is a delight to behold!
While songbirds enjoy your garden, you’ll be equally enchanted by the cheerful music and natural beauty you’ve helped create.
