{"id":6889,"date":"2020-02-13T15:16:58","date_gmt":"2020-02-13T20:16:58","guid":{"rendered":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/?p=6889"},"modified":"2020-03-31T21:49:12","modified_gmt":"2020-04-01T01:49:12","slug":"january-2020-real-estate-market-update","status":"publish","type":"post","link":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/january-2020-real-estate-market-update\/","title":{"rendered":"January 2020 Real Estate Market Update"},"content":{"rendered":"

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January 2020 Real Estate Market Update <\/strong><\/p>\n

Active Listings\/Current Inventory<\/strong>
\nAs of the end of January, there were a total of 1,628 homes on the market, a decrease of 1% from the previous month’s end inventory of 1,639.\u00a0 This represents a 6-month’s supply of inventory, with a current absorption rate of 255 homes sold per month thus far in 2020.\u00a0 Of the total inventory, 37% (597 homes) of the homes available are new construction.<\/p>\n

Closed Sales<\/strong>
\nFor the first month of 2020, sales of single-family homes in Sussex County are up 21% compared to January of last year, with 255 homes sold compared to 210 for January 2019.\u00a0 The areas with the largest increase are the Dagsboro\/Millsboro Area, up 266% and the Milford\/Lincoln\/Slaughter Beach area up 115%.\u00a0 The areas with the largest decrease are the Georgetown Area, down 20% and the Angola\/Long Neck\/Millsboro\u00a0 Area, down 11% from last year to date.<\/p>\n

Home Prices<\/strong>
\nThe average sales price of single-family homes in Sussex County are down over the first month of last year, $398,235 compared to $440,559, a 5% decrease.\u00a0 The median sales price was up by 1% over January of 2019, $309,900 compared to $307,450.<\/p>\n

Pending Sales<\/strong>
\nPending sales for the first month of 2020 were up by 26% from last year, with 312 homes going under contract through January of 2020, compared to 247 in 2019.<\/p>\n

Days on Market<\/strong>
\nThe average days on market for homes to go under contract has decreased by 14% for homes sold through January of this year compared to last.\u00a0 In 2020, the current average days on market is 102 days, compared to 119 days through January of 2019.<\/p>\n

The statistics referenced here and in the attached newsletter 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":"

January 2020 Real Estate Market Update Active Listings\/Current Inventory As of the end of January, there were a total of 1,628 homes on the market, a decrease of 1% from the previous month’s end inventory of 1,639.\u00a0 This represents a 6-month’s supply of inventory, with a current absorption rate of 255 homes sold per month … Continue reading January 2020 Real Estate Market Update<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":6942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,51],"tags":[],"class_list":["post-6889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-sussex-county-market-watch"],"_links":{"self":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts\/6889","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=6889"}],"version-history":[{"count":0,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts\/6889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/media\/6942"}],"wp:attachment":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/media?parent=6889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/categories?post=6889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/tags?post=6889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}