Is Dover, DE a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Dover is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Dover has remained a Seller's Market.

Key Takeaway

Dover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Dover, DE

How much do homes in Dover, DE cost?

Median Sold Price

$305,096

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$30,096(+10.9%)

Key Takeaway

Homes in Dover have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in Dover was $305,096 in May 2024, up 10.9% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $167.3K$128.5K
-23.2%
2 $202.5K$210K
+3.7%
3 $265K$299.9K
+13.2%
4 $339.9K$365K
+7.4%
5+ $360K$406K
+12.8%

Summary: Dover housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.2%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 12.8%.

Median Sold Price Compared To Nearby Cities

Camden Wyoming
+13.6%
Dover
+10.9%

Housing Supply in Dover, DE

How many homes are available in Dover, DE?

Number of Homes For Sale

Apr 2024May 2024CHANGE
240252+5.0%

Summary: The Dover real estate market had 252 homes for sale in May 2024, a 5.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 12
+100.0%
2 2622
-15.4%
3 117110
-6.0%
4 87100
+14.9%
5+ 918
+100.0%

Summary: The Dover housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4948-2.0%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Dover, you may be able to get a good deal. 39.6% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in Dover in May 2024, down by 2.0% month-over-month. Of the 48 sold homes, 40% were sold under asking, 29% were sold at asking, and 31% were sold over asking.

Days on Market for Dover, DE

How long does it take to sell a home in Dover, DE?

Average Sale Time

May 2023May 2024CHANGE
28 Days46 Days+62.2%

Summary: Homes in Dover had an average of 46 days on market in May 2024, up by 62.2% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Dover are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 48 homes were sold in Dover; 54% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Dover, DE

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