Is Elsmere, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Elsmere has remained a Seller's Market.
Key Takeaway
Elsmere is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elsmere, DE
How much do homes in Elsmere, DE cost?
Median Sold Price
$245,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elsmere have sold for 14% more than they did a year ago.
Summary: The median home sold price in Elsmere was $245,000 in March 2024, up 14% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $187.5K | +7.1% |
| 3 Bedrooms | $220K | $252K | +14.5% |
| 4 Bedrooms | $275K | $268.4K | -2.4% |
| 5+ Bedrooms | - | $485K | N/A |
Summary: Elsmere housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Wilmington | $236.3K | $308.2K | +30.4% |
| Elsmere | $215K | $245K | +14.0% |
| Lower Christiana | $265K | $290K | +9.4% |
Housing Supply in Elsmere, DE
How many homes are available in Elsmere, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 29 | +38.1% |
Summary: The Elsmere real estate market had 29 homes for sale in March 2024, a 38.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 12 | 16 | +33.3% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Elsmere housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elsmere, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Elsmere in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 67% were sold at asking, and 17% were sold over asking.
Days on Market for Elsmere, DE
How long does it take to sell a home in Elsmere, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 6 Days | 44 Days | +543.9% |
Summary: Homes in Elsmere had an average of 44 days on market in Mar 2024, up by 543.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elsmere are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Elsmere; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
