Is Millsboro, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Millsboro has remained a Buyer's Market.
Key Takeaway
Millsboro is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Millsboro, DE
How much do homes in Millsboro, DE cost?
Median Sold Price
$424,250
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Millsboro have sold for 26.6% more than they did a year ago.
Summary: The median home sold price in Millsboro was $424,250 in March 2024, up 26.6% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $342.5K | +114.1% |
| 2 Bedrooms | $255.9K | $267.5K | +4.5% |
| 3 Bedrooms | $335K | $395.9K | +18.2% |
| 4 Bedrooms | $546.7K | $535K | -2.1% |
| 5+ Bedrooms | $839K | $665K | -20.7% |
Summary: Millsboro housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 114.1%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 20.7%.
Housing Supply in Millsboro, DE
How many homes are available in Millsboro, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 465 | 459 | -1.3% |
Summary: The Millsboro real estate market had 459 homes for sale in March 2024, a 1.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 55 | 56 | +1.8% |
| 3 Bedrooms | 248 | 247 | -0.4% |
| 4 Bedrooms | 122 | 114 | -6.6% |
| 5+ Bedrooms | 38 | 39 | +2.6% |
Summary: The Millsboro housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 1.8%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes increased by 2.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 35 | 42 | +20.0% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Millsboro, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in Millsboro in March 2024, up by 20.0% month-over-month. Of the 42 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Millsboro, DE
How long does it take to sell a home in Millsboro, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 51 Days | 76 Days | +46.4% |
Summary: Homes in Millsboro had an average of 76 days on market in Mar 2024, up by 46.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Millsboro are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 42 homes were sold in Millsboro; 31% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
