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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Piedmont is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Piedmont was a Buyer's Market.

Key Takeaway

Piedmont 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 Piedmont, DE

How much do homes in Piedmont, DE cost?

Median Sold Price

$621,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$41,000(+7.1%)

Key Takeaway

Homes in Piedmont have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Piedmont was $621,000 in February 2024, up 7.1% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $305K$325K
+6.6%
3 $485K$523.5K
+7.9%
4 $581K$641K
+10.3%
5+ $964.4K$810K
-16.0%

Summary: Piedmont housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 16%.

Median Sold Price Compared To Nearby Cities

Piedmont
+7.1%
Kennett Township
+5.0%
Hockessin
+2.9%

Housing Supply in Piedmont, DE

How many homes are available in Piedmont, DE?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
108103-4.6%

Summary: The Piedmont real estate market had 103 homes for sale in February 2024, a 4.6% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 46
+50.0%
3 1617
+6.3%
4 5347
-11.3%
5+ 3533
-5.7%

Summary: The Piedmont housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes decreased by 5.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1217+41.7%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Piedmont, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Piedmont in February 2024, up by 41.7% month-over-month. Of the 17 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.

Days on Market for Piedmont, DE

How long does it take to sell a home in Piedmont, DE?

Average Sale Time

Feb 2023Feb 2024CHANGE
47 Days54 Days+13.1%

Summary: Homes in Piedmont had an average of 54 days on market in Feb 2024, up by 13.1% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 17 homes were sold in Piedmont; 53% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 24% 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 27 Days Ago

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