Is Hockessin, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Hockessin has remained a Seller's Market.
Key Takeaway
Hockessin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hockessin, DE
How much do homes in Hockessin, DE cost?
Median Sold Price
$531,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hockessin have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Hockessin was $531,000 in May 2024, up 0.7% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $325K | +3.2% |
| 3 Bedrooms | $445.5K | $448.1K | +0.6% |
| 4 Bedrooms | $575K | $622.5K | +8.3% |
| 5+ Bedrooms | $770K | $780K | +1.3% |
Summary: Hockessin 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 increased by 3.2%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 1.3%.
Median Sold Price Compared To Nearby Cities
| Piedmont | $583K | $631.3K | +8.3% |
| Pike Creek-Central Kirkwood | $336.1K | $352.8K | +5.0% |
| Hockessin | $527.5K | $531K | +0.7% |
| Kennett Township | $575K | $575K | 0.0% |
Housing Supply in Hockessin, DE
How many homes are available in Hockessin, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 48 | -5.9% |
Summary: The Hockessin real estate market had 48 homes for sale in May 2024, a 5.9% decrease 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 13 | 8 | -38.5% |
| 4 Bedrooms | 24 | 29 | +20.8% |
| 5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The Hockessin 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 25%, 3 bedroom homes decreased by 38.5%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hockessin, you could pay more than the asking price. 69.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Hockessin in May 2024, down by 7.1% month-over-month. Of the 13 sold homes, 23% were sold under asking, 8% were sold at asking, and 69% were sold over asking.
Days on Market for Hockessin, DE
How long does it take to sell a home in Hockessin, DE?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 5 Days | -80.3% |
Summary: Homes in Hockessin had an average of 5 days on market in May 2024, down by 80.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hockessin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Hockessin; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
