Is Hockessin, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Hockessin was a Neutral Market.
Key Takeaway
Hockessin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Hockessin, DE
How much do homes in Hockessin, DE cost?
Median Sold Price
$530,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hockessin have sold for 1% more than they did a year ago.
Summary: The median home sold price in Hockessin was $530,000 in March 2024, up 1% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $310K | $325K | +4.8% |
| 3 Bedrooms | $450K | $452.1K | 0.5% |
| 4 Bedrooms | $560K | $623K | +11.3% |
| 5+ Bedrooms | $685K | $767.5K | +12.0% |
Summary: Hockessin 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 4.8%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Cities
| Piedmont | $581K | $625.3K | +7.6% |
| Pike Creek-Central Kirkwood | $334.9K | $351K | +4.8% |
| Kennett Township | $552.5K | $575K | +4.1% |
| Hockessin | $525K | $530K | +1.0% |
Housing Supply in Hockessin, DE
How many homes are available in Hockessin, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 46 | +17.9% |
Summary: The Hockessin real estate market had 46 homes for sale in March 2024, a 17.9% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 4 | 9 | +125.0% |
| 4 Bedrooms | 22 | 22 | 0.0% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Hockessin 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 remained the same, 3 bedroom homes increased by 125%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hockessin, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Hockessin in March 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Hockessin, DE
How long does it take to sell a home in Hockessin, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 15 Days | 23 Days | +50.3% |
Summary: Homes in Hockessin had an average of 23 days on market in Mar 2024, up by 50.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hockessin are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Hockessin; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
