{"id":7108,"date":"2021-01-13T15:21:38","date_gmt":"2021-01-13T20:21:38","guid":{"rendered":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/?p=7108"},"modified":"2021-01-14T13:40:47","modified_gmt":"2021-01-14T18:40:47","slug":"2020-year-end-real-estate-market-watch","status":"publish","type":"post","link":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/2020-year-end-real-estate-market-watch\/","title":{"rendered":"2020 Year End Real Estate Market Watch"},"content":{"rendered":"

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Real Estate Market Watch for Year End 2020 – Sussex County, Delaware<\/p>\n

The statistics referenced here are based on single family homes derived from the Bright Multiple Listing Service.<\/p>\n

Active Listings\/Current Inventory<\/strong><\/p>\n

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.\u00a0 This represents less than a 2-month’s supply of inventory, with a current absorption rate of 417 homes sold per month in 2020.\u00a0 Of the total inventory, 53% (415 homes) of the homes available are new construction.<\/p>\n

Closed Sales<\/strong><\/p>\n

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.\u00a0 The areas with the largest increase were the Georgetown Area, up 60%, and the Lewes\/Rehoboth\/Dewey Area, up 31%.\u00a0 All areas of Sussex County showed an increase in the number of homes sold compared to the previous year.<\/p>\n

Home Prices<\/strong><\/p>\n

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.\u00a0 The median sales price was up by 13% over 2019, $350,490 compared to $310,000.<\/p>\n

Pending Sales<\/strong><\/p>\n

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.<\/p>\n

Days on Market<\/strong><\/p>\n

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.\u00a0 In 2020, the current average days on market is 79 days, compared to 91 days through December of 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Real Estate Market Watch for Year End 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 … Continue reading 2020 Year End Real Estate Market Watch<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":7107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,51,33],"tags":[],"class_list":["post-7108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-miscellaneous","category-sussex-county-market-watch","category-what-sold"],"_links":{"self":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts\/7108","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=7108"}],"version-history":[{"count":0,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts\/7108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/media\/7107"}],"wp:attachment":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/media?parent=7108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/categories?post=7108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/tags?post=7108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}