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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Milford is a buyer's market

Buyer's
Market

Difference Since September 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

$349,000

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$29,000(+9.1%)

Key Takeaway

Homes in Milford have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Milford was $349,000 in September 2024, up 9.1% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$225K
N/A
2 $225K$254.5K
+13.1%
3 $319.9K$345K
+7.8%
4 $389K$405K
+4.1%
5+ $500K$398.5K
-20.3%

Summary: Milford housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 20.3%.

Median Sold Price Compared To Nearby Cities

Milford
+9.1%
Milford
+9.1%
Milford North
+8.1%
Milford South
+6.0%

Housing Supply in Milford, DE

How many homes are available in Milford, DE?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
125123-1.6%

Summary: The Milford real estate market had 123 homes for sale in September 2024, a 1.6% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 2121
0.0%
3 5653
-5.4%
4 3941
+5.1%
5+ 87
-12.5%

Summary: The Milford housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5.4%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2711-59.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Milford, expect to pay close to the asking price. 72.7% of homes here sold near the asking price last month.

Summary: A total of 11 homes were sold or pending in Milford in September 2024, down by 59.3% month-over-month. Of the 11 sold homes, 18% were sold under asking, 73% were sold at asking, and 9% 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

Sep 2023Sep 2024CHANGE
25 Days39 Days+55.1%

Summary: Homes in Milford had an average of 39 days on market in Sep 2024, up by 55.1% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 11 homes were sold in Milford; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% 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 30 Days Ago

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