Is Smyrna, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Smyrna was a Neutral Market.
Key Takeaway
Smyrna is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Smyrna, DE
How much do homes in Smyrna, DE cost?
Median Sold Price
$360,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Smyrna have sold for 22.2% more than they did a year ago.
Summary: The median home sold price in Smyrna was $360,000 in November 2023, up 22.2% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $140K | N/A |
| 2 Bedrooms | $206K | $369.5K | +79.4% |
| 3 Bedrooms | $276.9K | $315.5K | +13.9% |
| 4 Bedrooms | $410K | $465K | +13.4% |
| 5+ Bedrooms | $427.5K | $520K | +21.6% |
Summary: Smyrna housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 79.4%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 21.6%.
Median Sold Price Compared To Nearby Cities
| Smyrna | $294.5K | $360K | +22.2% |
| Clayton | $370K | $385K | +4.1% |
| Middletown-Odessa | $449.6K | $461.4K | +2.6% |
Housing Supply in Smyrna, DE
How many homes are available in Smyrna, DE?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 140 | 143 | +2.1% |
Summary: The Smyrna real estate market had 143 homes for sale in November 2023, a 2.1% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 20 | 18 | -10.0% |
| 3 Bedrooms | 61 | 72 | +18.0% |
| 4 Bedrooms | 56 | 49 | -12.5% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Smyrna housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 18%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 20 | 13 | -35.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Smyrna, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.
Summary: A total of 13 homes were sold or pending in Smyrna in November 2023, down by 35.0% month-over-month. Of the 13 sold homes, 15% were sold under asking, 46% were sold at asking, and 38% were sold over asking.
Days on Market for Smyrna, DE
How long does it take to sell a home in Smyrna, DE?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 17 Days | 33 Days | +94.3% |
Summary: Homes in Smyrna had an average of 33 days on market in Nov 2023, up by 94.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Smyrna are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 13 homes were sold in Smyrna; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
