Is Frankford, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Frankford was a Seller's Market.
Key Takeaway
Frankford is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Frankford, DE
How much do homes in Frankford, DE cost?
Median Sold Price
$534,659
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Frankford have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Frankford was $534,659 in May 2024, up 3.3% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | - | N/A |
| 2 Bedrooms | $325K | $295K | -9.2% |
| 3 Bedrooms | $485K | $504.9K | +4.1% |
| 4 Bedrooms | $590K | $584.9K | -0.8% |
| 5+ Bedrooms | $670K | $745.5K | +11.3% |
Summary: Frankford housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.2%, 3 bedroom homes increased by 4.1%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 11.3%.
Median Sold Price Compared To Nearby Cities
| Dagsboro | $377.5K | $435K | +15.2% |
| Frankford | $517.5K | $534.6K | +3.3% |
| Selbyville-Frankford | $529.8K | $539.2K | +1.8% |
Housing Supply in Frankford, DE
How many homes are available in Frankford, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 123 | 134 | +8.9% |
Summary: The Frankford real estate market had 134 homes for sale in May 2024, a 8.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 72 | 74 | +2.8% |
| 4 Bedrooms | 39 | 47 | +20.5% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Frankford housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Frankford, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Frankford in May 2024, up by 14.3% month-over-month. Of the 16 sold homes, 50% were sold under asking, 44% were sold at asking, and 6% were sold over asking.
Days on Market for Frankford, DE
How long does it take to sell a home in Frankford, DE?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 35 Days | -18.6% |
Summary: Homes in Frankford had an average of 35 days on market in May 2024, down by 18.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Frankford are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Frankford; 56% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
