Is Piedmont, 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, Piedmont has remained a Seller's Market.
Key Takeaway
Piedmont is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Piedmont, DE
How much do homes in Piedmont, DE cost?
Median Sold Price
$631,333
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Piedmont have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Piedmont was $631,333 in May 2024, up 8.3% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $307.5K | $326K | +6.0% |
| 3 Bedrooms | $485K | $525K | +8.2% |
| 4 Bedrooms | $595K | $643K | +8.1% |
| 5+ Bedrooms | $1.0M | $852.5K | -16.0% |
Summary: Piedmont 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 6%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 16%.
Median Sold Price Compared To Nearby Cities
| Piedmont | $583K | $631.3K | +8.3% |
| Hockessin | $527.5K | $531K | +0.7% |
| Kennett Township | $575K | $575K | 0.0% |
Housing Supply in Piedmont, DE
How many homes are available in Piedmont, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 97 | 100 | +3.1% |
Summary: The Piedmont real estate market had 100 homes for sale in May 2024, a 3.1% 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 23 | 19 | -17.4% |
| 4 Bedrooms | 46 | 52 | +13.0% |
| 5+ Bedrooms | 23 | 25 | +8.7% |
Summary: The Piedmont 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 decreased by 20%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 8.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Piedmont, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Piedmont in May 2024, down by 9.1% month-over-month. Of the 20 sold homes, 30% were sold under asking, 20% were sold at asking, and 50% were sold over asking.
Days on Market for Piedmont, DE
How long does it take to sell a home in Piedmont, DE?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 30 Days | +13.0% |
Summary: Homes in Piedmont had an average of 30 days on market in May 2024, up by 13% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Piedmont are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Piedmont; 85% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
