Is Milford, 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, Milford was a Seller's Market.
Key Takeaway
Milford is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Milford, DE
How much do homes in Milford, DE cost?
Median Sold Price
$335,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Milford have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in Milford was $335,000 in March 2024, up 17.5% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $225K | N/A |
| 2 Bedrooms | $219.9K | $235K | +6.8% |
| 3 Bedrooms | $285K | $330.1K | +15.8% |
| 4 Bedrooms | $337.5K | $387K | +14.7% |
| 5+ Bedrooms | $425K | $497.9K | +17.2% |
Summary: Milford 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 6.8%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 17.2%.
Median Sold Price Compared To Nearby Cities
| Milford | $285K | $335K | +17.5% |
| Milford South | $299.6K | $348.9K | +16.5% |
| Lincoln | $312K | $360K | +15.4% |
| Milford | $299.9K | $334.1K | +11.4% |
| Milford North | $350K | $340K | -2.9% |
Housing Supply in Milford, DE
How many homes are available in Milford, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 166 | 169 | +1.8% |
Summary: The Milford real estate market had 169 homes for sale in March 2024, a 1.8% 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 | 15 | 17 | +13.3% |
| 3 Bedrooms | 94 | 98 | +4.3% |
| 4 Bedrooms | 49 | 44 | -10.2% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Milford 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 13.3%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 17 | -34.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milford, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Milford in March 2024, down by 34.6% month-over-month. Of the 17 sold homes, 53% were sold under asking, 24% were sold at asking, and 24% were sold over asking.
Days on Market for Milford, DE
How long does it take to sell a home in Milford, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 70 Days | +40.6% |
Summary: Homes in Milford had an average of 70 days on market in Mar 2024, up by 40.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Milford are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in Milford; 41% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
