Is Wilmington, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Wilmington has remained a Seller's Market.
Key Takeaway
Wilmington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wilmington, DE
How much do homes in Wilmington, DE cost?
Median Sold Price
$308,273
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wilmington have sold for 30.4% more than they did a year ago.
Summary: The median home sold price in Wilmington was $308,273 in March 2024, up 30.4% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $153.9K | +10.0% |
| 2 Bedrooms | $197K | $215K | +9.1% |
| 3 Bedrooms | $225.5K | $295K | +30.8% |
| 4 Bedrooms | $381.2K | $447.6K | +17.4% |
| 5+ Bedrooms | $415K | $500K | +20.5% |
Summary: Wilmington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 30.8%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 20.5%.
Median Sold Price Compared To Nearby Cities
| Wilmington | $236.3K | $308.2K | +30.4% |
| Penns Grove | $170K | $200K | +17.6% |
| Elsmere | $215K | $245K | +14.0% |
| Lower Christiana | $265K | $290K | +9.4% |
| Brandywine | $385K | $406.2K | +5.5% |
Housing Supply in Wilmington, DE
How many homes are available in Wilmington, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 847 | 914 | +7.9% |
Summary: The Wilmington real estate market had 914 homes for sale in March 2024, a 7.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 15 | -6.3% |
| 2 Bedrooms | 145 | 165 | +13.8% |
| 3 Bedrooms | 446 | 477 | +7.0% |
| 4 Bedrooms | 162 | 177 | +9.3% |
| 5+ Bedrooms | 78 | 80 | +2.6% |
Summary: The Wilmington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.3%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 2.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 146 | 157 | +7.5% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
45 Homes Were Sold
At Asking
52 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wilmington, you may be able to get a good deal. 38.2% of homes here sold below asking price last month.
Summary: A total of 157 homes were sold or pending in Wilmington in March 2024, up by 7.5% month-over-month. Of the 157 sold homes, 38% were sold under asking, 29% were sold at asking, and 33% were sold over asking.
Days on Market for Wilmington, DE
How long does it take to sell a home in Wilmington, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 23 Days | 27 Days | +20.6% |
Summary: Homes in Wilmington had an average of 27 days on market in Mar 2024, up by 20.6% compared to last year.
Breakdown of Home Sale Times
113 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wilmington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 157 homes were sold in Wilmington; 72% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
