Is Wilmington, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$314,571
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Wilmington have sold for 27.1% more than they did a year ago.
Summary: The median home sold price in Wilmington was $314,571 in April 2024, up 27.1% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137K | $155K | +13.1% |
| 2 Bedrooms | $199K | $219.9K | +10.5% |
| 3 Bedrooms | $230K | $299.3K | +30.2% |
| 4 Bedrooms | $384.2K | $450K | +17.1% |
| 5+ Bedrooms | $427.7K | $515K | +20.4% |
Summary: Wilmington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 30.2%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 20.4%.
Median Sold Price Compared To Nearby Cities
| Wilmington | $247.4K | $314.5K | +27.1% |
| Elsmere | $207.2K | $247.4K | +19.4% |
| Penns Grove | $174.9K | $201.5K | +15.2% |
| Lower Christiana | $265.1K | $299.4K | +12.9% |
| Brandywine | $386K | $411K | +6.5% |
Housing Supply in Wilmington, DE
How many homes are available in Wilmington, DE?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 615 | 650 | +5.7% |
Summary: The Wilmington real estate market had 650 homes for sale in April 2024, a 5.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 20 | +25.0% |
| 2 Bedrooms | 96 | 106 | +10.4% |
| 3 Bedrooms | 312 | 307 | -1.6% |
| 4 Bedrooms | 138 | 155 | +12.3% |
| 5+ Bedrooms | 53 | 62 | +17.0% |
Summary: The Wilmington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 10.4%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 17%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 177 | 169 | -4.5% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
47 Homes Were Sold
At Asking
70 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wilmington, you could pay more than the asking price. 41.4% of homes here sold above asking price last month.
Summary: A total of 169 homes were sold or pending in Wilmington in April 2024, down by 4.5% month-over-month. Of the 169 sold homes, 31% were sold under asking, 28% were sold at asking, and 41% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 26 Days | +44.3% |
Summary: Homes in Wilmington had an average of 26 days on market in Apr 2024, up by 44.3% compared to last year.
Breakdown of Home Sale Times
135 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
16 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 April 2024, 169 homes were sold in Wilmington; 80% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
