{"id":7262,"date":"2022-01-12T13:49:34","date_gmt":"2022-01-12T18:49:34","guid":{"rendered":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/jan-sept-2021-real-estate-update-for-sussex-county-de-copy\/"},"modified":"2022-01-12T13:57:26","modified_gmt":"2022-01-12T18:57:26","slug":"jan-dec-2021-real-estate-update-for-sussex-county-de","status":"publish","type":"post","link":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/jan-dec-2021-real-estate-update-for-sussex-county-de\/","title":{"rendered":"Jan – Dec 2021 Real Estate Update for Sussex County DE"},"content":{"rendered":"

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

Sussex County Market Stats – Year Ending 2021<\/p>\n

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

As of the end of December, there were a total of 585 homes on the market, a decrease of 12% from the previous month’s end inventory of 661.\u00a0\u00a0\u00a0 Of the 585 homes on the market at month\u2019s end, 49% of them are new construction homes.\u00a0 The current homes on the market represents less than a 2-month’s supply of inventory, with a current absorption rate of 420 homes sold per month thus far in 2021.\u00a0 There were 266 new listings of single-family homes put on the market in December, with 53% of them going under contract by the month\u2019s end.<\/p>\n

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

For the year ending 2021, sales of single-family homes in Sussex County are up 2% from last year, with 5,034 homes sold compared to 4,959 for the year ending 2020.\u00a0 The areas with the largest increase were the Angola\/Long Neck\/Millsboro Area, up 26% and the Georgetown Area, up 19%.\u00a0 The area with the largest decrease was the Milton\/Harbeson\/Broadkill Area, down 8%.<\/p>\n

Over the last 5-years, annual sales have increased from 3,495 back in 2017 to 5,034 in 2021, a 44% increase over 5-years, or almost 9% per year.<\/p>\n

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

The average sales price of single-family homes in Sussex County are up over last year, $525,687 compared to $468,442, a 12% increase.\u00a0 The median sales price was also up over 2020, $400,000 compared to $350,000, a 14% increase.<\/p>\n

Over the last 5-years, the average sales price has increased from $380,213 in 2017 to $525,687 in 2021, a 38% increase, or just over 7% per year. \u00a0The median sales price has increased over the last 5-years from $285,900 in 2017 to $400,00 in 2021, a 40% increase, or 8% per year.<\/p>\n

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

Pending sales for the year ending 2021 were down by just above 2% over last year, with 4,926 homes going under contract in 2021, compared to 5,041 in 2020.<\/p>\n

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

The average days on market for homes to go under contract has decreased by 50% for homes that have closed through December of this year compared to last.\u00a0 In 2021, the current average days on market for these closed homes is 39 days, compared to 78 days through December of 2020.<\/p>\n

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

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

Sussex County Market Stats – Year Ending 2021 Active Listings\/Current Inventory As of the end of December, there were a total of 585 homes on the market, a decrease of 12% from the previous month’s end inventory of 661.\u00a0\u00a0\u00a0 Of the 585 homes on the market at month\u2019s end, 49% of them are new construction … Continue reading Jan – Dec 2021 Real Estate Update for Sussex County DE<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":7266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,37,51,33],"tags":[],"class_list":["post-7262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-miscellaneous","category-news","category-sussex-county-market-watch","category-what-sold"],"_links":{"self":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts\/7262","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=7262"}],"version-history":[{"count":0,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/posts\/7262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/media\/7266"}],"wp:attachment":[{"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/media?parent=7262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/categories?post=7262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sellingdelawarehomes.com\/delaware-real-estate\/wp-json\/wp\/v2\/tags?post=7262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}