Is Sussex County, DE a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sussex County is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Sussex County was a Neutral Market.

Key Takeaway

Sussex County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Sussex County, DE

How much do homes in Sussex County, DE cost?

Median Sold Price

$474,812

$241/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$24,172(+5.4%)

Key Takeaway

Homes in Sussex County have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Sussex County was $474,812 in March 2024, up 5.4% from last year, and the median price per square foot was $241.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $200K$440.2K
+120.1%
2 $310.7K$339.1K
+9.1%
3 $403.5K$425K
+5.3%
4 $599.6K$594.4K
-0.9%
5+ $995.1K$943.8K
-5.2%

Summary: Sussex County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 120.1%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes decreased by 5.2%.

Median Sold Price Compared To Nearby Counties

Sussex County
+5.4%
Kent County
+4.6%

Housing Supply in Sussex County, DE

How many homes are available in Sussex County, DE?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3,0453,219+5.7%

Summary: The Sussex County real estate market had 3,219 homes for sale in March 2024, a 5.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1414
0.0%
2 287302
+5.2%
3 1,4971,601
+6.9%
4 930970
+4.3%
5+ 317332
+4.7%

Summary: The Sussex County 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 5.2%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 4.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
262293+11.8%

Asking Price vs. Sold Price

163 Homes Were Sold
Under Asking

75 Homes Were Sold
At Asking

55 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sussex County, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 293 homes were sold or pending in Sussex County in March 2024, up by 11.8% month-over-month. Of the 293 sold homes, 56% were sold under asking, 26% were sold at asking, and 19% were sold over asking.

Days on Market for Sussex County, DE

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

Average Sale Time

Mar 2023Mar 2024CHANGE
50 Days57 Days+14.5%

Summary: Homes in Sussex County had an average of 57 days on market in Mar 2024, up by 14.5% compared to last year.

Breakdown of Home Sale Times

146 Homes Were Sold
Under 30 Days

80 Homes Were Sold
In 30 - 90 Days

67 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 293 homes were sold in Sussex County; 50% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 23% 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 18 Days Ago

Newest Listings in Sussex County, DE

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