Is Fenwick Island, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Fenwick Island was a Seller's Market.
Key Takeaway
Fenwick Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fenwick Island, DE
How much do homes in Fenwick Island, DE cost?
Median Sold Price
$935,000
$590/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fenwick Island have sold for 41% less than they did a year ago.
Summary: The median home sold price in Fenwick Island was $935,000 in April 2024, down 41% from last year, and the median price per square foot was $590.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $360.3K | N/A |
| 2 Bedrooms | $2.3M | $477.5K | -79.7% |
| 3 Bedrooms | $800K | $1.0M | +33.4% |
| 4 Bedrooms | $1.2M | $1.4M | +23.5% |
| 5+ Bedrooms | $2.1M | $1.0M | -54.4% |
Summary: Fenwick Island housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 79.7%, 3 bedroom homes increased by 33.4%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 54.4%.
Median Sold Price Compared To Nearby Cities
| Selbyville-Frankford | $534.3K | $537.1K | 0.5% |
| Fenwick Island | $1.5M | $935K | -41.0% |
Housing Supply in Fenwick Island, DE
How many homes are available in Fenwick Island, DE?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Summary: The Fenwick Island real estate market had 17 homes for sale in April 2024, a 21.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The Fenwick Island housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fenwick Island, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Fenwick Island in April 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Fenwick Island, DE
How long does it take to sell a home in Fenwick Island, DE?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 117 Days | +658.1% |
Summary: Homes in Fenwick Island had an average of 117 days on market in Apr 2024, up by 658.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Fenwick Island are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Fenwick Island; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
