Is Milford, 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, Milford was a Seller's Market.
Housing Prices in Milford, DE
How much do homes in Milford, DE cost?
Median Sold Price
$341,833
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Milford was $341,833 in May 2024, up 13% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $225K | N/A |
2 Bedrooms | $224.5K | $232.5K | +3.6% |
3 Bedrooms | $294.9K | $338.5K | +14.8% |
4 Bedrooms | $359.4K | $390K | +8.5% |
5+ Bedrooms | $504.8K | $409.9K | -18.8% |
Summary: Milford 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 3.6%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 18.8%.
Median Sold Price Compared To Nearby Cities
Lincoln | $315K | $447.5K | +42.1% |
Milford | $302.4K | $341.8K | +13.0% |
Milford South | $315K | $354.7K | +12.6% |
Milford | $314.9K | $340.6K | +8.2% |
Milford North | $350K | $353K | +0.9% |
Housing Supply in Milford, DE
How many homes are available in Milford, DE?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
120 | 126 | +5.0% |
Summary: The Milford real estate market had 126 homes for sale in May 2024, a 5.0% 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 | 13 | 19 | +46.2% |
3 Bedrooms | 65 | 68 | +4.6% |
4 Bedrooms | 33 | 33 | 0.0% |
5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Milford 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 increased by 46.2%, 3 bedroom homes increased by 4.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 17 | -22.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Milford in May 2024, down by 22.7% month-over-month. Of the 17 sold homes, 35% were sold under asking, 29% were sold at asking, and 35% were sold over asking.
Days on Market for Milford, DE
How long does it take to sell a home in Milford, DE?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 78 Days | +234.7% |
Summary: Homes in Milford had an average of 78 days on market in May 2024, up by 234.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 17 homes were sold in Milford; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.