Is New Castle County, 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, New Castle County was a Seller's Market.
Key Takeaway
New Castle County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in New Castle County, DE
How much do homes in New Castle County, DE cost?
Median Sold Price
$341,383
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New Castle County have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in New Castle County was $341,383 in March 2024, up 4.2% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $136.2K | $155K | +13.8% |
| 2 Bedrooms | $215K | $235K | +9.3% |
| 3 Bedrooms | $295K | $315.1K | +6.8% |
| 4 Bedrooms | $439.8K | $467.6K | +6.3% |
| 5+ Bedrooms | $533.3K | $563K | +5.6% |
Summary: New Castle County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Counties
| Salem County | $223.9K | $250K | +11.6% |
| Cecil County | $316.9K | $340.7K | +7.5% |
| Chester County | $466.5K | $500.2K | +7.2% |
| New Castle County | $327.6K | $341.3K | +4.2% |
| Delaware County | $319.2K | $331.8K | +3.9% |
Housing Supply in New Castle County, DE
How many homes are available in New Castle County, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,926 | 2,019 | +4.8% |
Summary: The New Castle County real estate market had 2,019 homes for sale in March 2024, a 4.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 22 | +10.0% |
| 2 Bedrooms | 270 | 289 | +7.0% |
| 3 Bedrooms | 934 | 986 | +5.6% |
| 4 Bedrooms | 522 | 544 | +4.2% |
| 5+ Bedrooms | 180 | 178 | -1.1% |
Summary: The New Castle County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 1.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 342 | 330 | -3.5% |
Asking Price vs. Sold Price
104 Homes Were Sold
Under Asking
103 Homes Were Sold
At Asking
123 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Castle County, you could pay more than the asking price. 37.3% of homes here sold above asking price last month.
Summary: A total of 330 homes were sold or pending in New Castle County in March 2024, down by 3.5% month-over-month. Of the 330 sold homes, 32% were sold under asking, 31% were sold at asking, and 37% were sold over asking.
Days on Market for New Castle County, DE
How long does it take to sell a home in New Castle County, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 26 Days | +8.0% |
Summary: Homes in New Castle County had an average of 26 days on market in Mar 2024, up by 8% compared to last year.
Breakdown of Home Sale Times
248 Homes Were Sold
Under 30 Days
58 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Castle County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 330 homes were sold in New Castle County; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
