Is Laurel-Delmar, 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, Laurel-Delmar was a Seller's Market.
Key Takeaway
Laurel-Delmar is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Laurel-Delmar, DE
How much do homes in Laurel-Delmar, DE cost?
Median Sold Price
$312,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Laurel-Delmar have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Laurel-Delmar was $312,000 in May 2024, up 4.9% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $192.5K | $227K | +17.9% |
| 3 Bedrooms | $300K | $299K | -0.3% |
| 4 Bedrooms | $290K | $373K | +28.6% |
| 5+ Bedrooms | $339.9K | $337.9K | -0.6% |
Summary: Laurel-Delmar 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 17.9%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Laurel | $262K | $292.1K | +11.5% |
| Laurel-Delmar | $297.4K | $312K | +4.9% |
Housing Supply in Laurel-Delmar, DE
How many homes are available in Laurel-Delmar, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 84 | 86 | +2.4% |
Summary: The Laurel-Delmar real estate market had 86 homes for sale in May 2024, a 2.4% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 55 | 56 | +1.8% |
| 4 Bedrooms | 21 | 20 | -4.8% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Laurel-Delmar 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 remained the same, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 7 | -69.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Laurel-Delmar, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Laurel-Delmar in May 2024, down by 69.6% month-over-month. Of the 7 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for Laurel-Delmar, DE
How long does it take to sell a home in Laurel-Delmar, DE?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 49 Days | 70 Days | +42.0% |
Summary: Homes in Laurel-Delmar had an average of 70 days on market in May 2024, up by 42% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Laurel-Delmar are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Laurel-Delmar; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
