Is Sussex County, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Sussex County was a Seller's Market.
Key Takeaway
Sussex County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sussex County, DE
How much do homes in Sussex County, DE cost?
Median Sold Price
$476,809
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Sussex County have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Sussex County was $476,809 in April 2024, up 5.4% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $219.5K | $450K | +105.0% |
| 2 Bedrooms | $318.9K | $339.5K | +6.5% |
| 3 Bedrooms | $409.9K | $430K | +4.9% |
| 4 Bedrooms | $598.7K | $588K | -1.8% |
| 5+ Bedrooms | $1.0M | $922.3K | -9.3% |
Summary: Sussex County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 105%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 4.9%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 9.3%.
Median Sold Price Compared To Nearby Counties
| Kent County | $310.2K | $334.4K | +7.8% |
| Sussex County | $452.5K | $476.8K | +5.4% |
Housing Supply in Sussex County, DE
How many homes are available in Sussex County, DE?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,928 | 2,070 | +7.4% |
Summary: The Sussex County real estate market had 2,070 homes for sale in April 2024, a 7.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 193 | 190 | -1.6% |
| 3 Bedrooms | 1,015 | 1,070 | +5.4% |
| 4 Bedrooms | 530 | 590 | +11.3% |
| 5+ Bedrooms | 181 | 210 | +16.0% |
Summary: The Sussex County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 16%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 356 | 290 | -18.5% |
Asking Price vs. Sold Price
157 Homes Were Sold
Under Asking
54 Homes Were Sold
At Asking
79 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. 54.1% of homes here sold below asking price last month.
Summary: A total of 290 homes were sold or pending in Sussex County in April 2024, down by 18.5% month-over-month. Of the 290 sold homes, 54% were sold under asking, 19% were sold at asking, and 27% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 57 Days | 53 Days | -7.2% |
Summary: Homes in Sussex County had an average of 53 days on market in Apr 2024, down by 7.2% compared to last year.
Breakdown of Home Sale Times
167 Homes Were Sold
Under 30 Days
62 Homes Were Sold
In 30 - 90 Days
61 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 April 2024, 290 homes were sold in Sussex County; 58% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
