Is Sussex County, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Sussex County was a Seller's Market.
Key Takeaway
Sussex 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 Sussex County, DE
How much do homes in Sussex County, DE cost?
Median Sold Price
$479,680
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Sussex County have sold for 4% more than they did a year ago.
Summary: The median home sold price in Sussex County was $479,680 in June 2024, up 4% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $298.5K | $450K | +50.8% |
| 2 Bedrooms | $325K | $340K | +4.6% |
| 3 Bedrooms | $414.2K | $430.9K | +4.0% |
| 4 Bedrooms | $599.2K | $587.5K | -1.9% |
| 5+ Bedrooms | $1.0M | $940.5K | -5.9% |
Summary: Sussex County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.8%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 5.9%.
Median Sold Price Compared To Nearby Counties
| Kent County | $315.2K | $339.3K | +7.6% |
| Sussex County | $461K | $479.6K | +4.0% |
Housing Supply in Sussex County, DE
How many homes are available in Sussex County, DE?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 2,219 | 2,224 | 0.2% |
Summary: The Sussex County real estate market had 2,224 homes for sale in June 2024, a 0.2% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 15 | +7.1% |
| 2 Bedrooms | 216 | 184 | -14.8% |
| 3 Bedrooms | 1,115 | 1,092 | -2.1% |
| 4 Bedrooms | 646 | 694 | +7.4% |
| 5+ Bedrooms | 228 | 239 | +4.8% |
Summary: The Sussex County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes decreased by 14.8%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 443 | 344 | -22.3% |
Asking Price vs. Sold Price
190 Homes Were Sold
Under Asking
83 Homes Were Sold
At Asking
71 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sussex County, you may be able to get a good deal. 55.2% of homes here sold below asking price last month.
Summary: A total of 344 homes were sold or pending in Sussex County in June 2024, down by 22.3% month-over-month. Of the 344 sold homes, 55% were sold under asking, 24% were sold at asking, and 21% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 37 Days | 48 Days | +29.0% |
Summary: Homes in Sussex County had an average of 48 days on market in Jun 2024, up by 29% compared to last year.
Breakdown of Home Sale Times
185 Homes Were Sold
Under 30 Days
101 Homes Were Sold
In 30 - 90 Days
58 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sussex County are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 344 homes were sold in Sussex County; 54% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
