{"id":6836,"date":"2020-01-14T16:08:02","date_gmt":"2020-01-14T21:08:02","guid":{"rendered":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/?p=6836"},"modified":"2020-01-14T16:08:54","modified_gmt":"2020-01-14T21:08:54","slug":"real-estate-market-update-december-2019","status":"publish","type":"post","link":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/real-estate-market-update-december-2019\/","title":{"rendered":"Real Estate Market Update – December 2019"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Real Estate Market Watch\u00a0 –\u00a0 December 2019<\/strong><\/p>\n

Active Listings\/Current Inventory<\/strong>
\nAs of the end of December, there were a total of 1,639 homes on the market, a decrease of 5% from the previous month’s end inventory of 1,722.\u00a0 This represents a 5-month’s supply of inventory, with a current absorption rate of 344 homes sold per month in 2019.\u00a0 Of the total inventory, 37% (614 homes) of the homes available are new construction.<\/p>\n

Closed Sales<\/strong>
\nFor the year ending 2019, sales of single-family homes in Sussex County are up 9% from last year, with 4,128 homes sold compared to 3,784 for the year ending 2018.\u00a0 The areas with the largest increase were the Dagsboro\/Millsboro Area, up 26% and the Milton\/Harbeson\/Broadkill Area, up 22% .\u00a0 The only area which decreased is the Georgetown Area, down 8% from last year to date.<\/p>\n

Home Prices<\/strong>
\nThe average sales price of single-family homes in Sussex County are up over last year, $414,760 compared to $393,609, a 5% increase.\u00a0 The median sales price was up by 3% over 2018, $310,000 compared to $299,999.<\/p>\n

Pending Sales<\/strong>
\nPending sales for the year ending 2019 were up by 9% from last year, with 3,898 homes going under contract through December of 2019, compared to 3,585 in 2018.<\/p>\n

Days on Market<\/strong>
\nThe average days on market for homes to go under contract has decreased by 11% for homes sold through December of this year compared to last.\u00a0 In 2019, the current average days on market is 102 days, compared to 115 days through December of 2018.<\/p>\n

** The statistics referenced here are based on single family homes sold in Sussex County, Delaware, and are compiled from the Bright Multiple Listing Service.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Real Estate Market Watch\u00a0 –\u00a0 December 2019 Active Listings\/Current Inventory As of the end of December, there were a total of 1,639 homes on the market, a decrease of 5% from the previous month’s end inventory of 1,722.\u00a0 This represents a 5-month’s supply of inventory, with a current absorption rate of 344 homes sold per … Continue reading Real Estate Market Update – December 2019<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":6837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,51,33],"tags":[],"class_list":["post-6836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-sussex-county-market-watch","category-what-sold"],"_links":{"self":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts\/6836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/comments?post=6836"}],"version-history":[{"count":0,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts\/6836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/media\/6837"}],"wp:attachment":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/media?parent=6836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/categories?post=6836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/tags?post=6836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}