Is New Castle, 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, New Castle has remained a Seller's Market.
Key Takeaway
New Castle is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Castle, DE
How much do homes in New Castle, DE cost?
Median Sold Price
$284,750
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Castle have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in New Castle was $284,750 in May 2024, up 9.5% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $75K | N/A |
| 2 Bedrooms | $168.5K | $210K | +24.6% |
| 3 Bedrooms | $255K | $267.6K | +5.0% |
| 4 Bedrooms | $300.5K | $354K | +17.8% |
| 5+ Bedrooms | $416.2K | $394.9K | -5.1% |
Summary: New Castle 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 24.6%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes decreased by 5.1%.
Housing Supply in New Castle, DE
How many homes are available in New Castle, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 124 | 124 | 0.0% |
Summary: The New Castle real estate market had 124 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 15 | 12 | -20.0% |
| 3 Bedrooms | 76 | 83 | +9.2% |
| 4 Bedrooms | 26 | 23 | -11.5% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The New Castle housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 9.2%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 25 | -30.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Castle, you could pay more than the asking price. 56% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in New Castle in May 2024, down by 30.6% month-over-month. Of the 25 sold homes, 24% were sold under asking, 20% were sold at asking, and 56% were sold over asking.
Days on Market for New Castle, DE
How long does it take to sell a home in New Castle, DE?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 8 Days | 12 Days | +43.7% |
Summary: Homes in New Castle had an average of 12 days on market in May 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Castle are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in New Castle; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
