Is Milford South, 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 South was a Neutral Market.
Key Takeaway
Milford South is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Milford South, DE
How much do homes in Milford South, DE cost?
Median Sold Price
$348,950
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Milford South have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Milford South was $348,950 in March 2024, up 16.5% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $305K | N/A |
| 2 Bedrooms | $220K | $249K | +13.2% |
| 3 Bedrooms | $299.3K | $340K | +13.6% |
| 4 Bedrooms | $362.4K | $442.5K | +22.1% |
| 5+ Bedrooms | $399K | $442K | +10.8% |
Summary: Milford South 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 13.2%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 22.1%, and 5+ bedroom homes increased by 10.8%.
Housing Supply in Milford South, DE
How many homes are available in Milford South, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 184 | 188 | +2.2% |
Summary: The Milford South real estate market had 188 homes for sale in March 2024, a 2.2% 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 | 16 | +6.7% |
| 3 Bedrooms | 111 | 116 | +4.5% |
| 4 Bedrooms | 48 | 41 | -14.6% |
| 5+ Bedrooms | 10 | 15 | +50.0% |
Summary: The Milford South 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 6.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 15 | -40.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Milford South, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Milford South in March 2024, down by 40.0% month-over-month. Of the 15 sold homes, 47% were sold under asking, 47% were sold at asking, and 7% were sold over asking.
Days on Market for Milford South, DE
How long does it take to sell a home in Milford South, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 44 Days | 65 Days | +45.5% |
Summary: Homes in Milford South had an average of 65 days on market in Mar 2024, up by 45.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Milford South has remained consistent over time.
Summary: During March 2024, 15 homes were sold in Milford South; 33% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
