Is Sussex County, 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, 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
$479,999
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sussex County have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Sussex County was $479,999 in May 2024, up 6.3% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $450K | +45.2% |
| 2 Bedrooms | $320.5K | $341.7K | +6.6% |
| 3 Bedrooms | $410.3K | $430.3K | +4.9% |
| 4 Bedrooms | $589.8K | $592.9K | 0.5% |
| 5+ Bedrooms | $1.0M | $922.3K | -9.4% |
Summary: Sussex County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.2%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 9.4%.
Median Sold Price Compared To Nearby Counties
| Sussex County | $451.6K | $479.9K | +6.3% |
| Kent County | $315K | $334.9K | +6.3% |
Housing Supply in Sussex County, DE
How many homes are available in Sussex County, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,196 | 2,392 | +8.9% |
Summary: The Sussex County real estate market had 2,392 homes for sale in May 2024, a 8.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 14 | +27.3% |
| 2 Bedrooms | 203 | 224 | +10.3% |
| 3 Bedrooms | 1,130 | 1,208 | +6.9% |
| 4 Bedrooms | 628 | 689 | +9.7% |
| 5+ Bedrooms | 224 | 257 | +14.7% |
Summary: The Sussex County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 14.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 315 | 298 | -5.4% |
Asking Price vs. Sold Price
155 Homes Were Sold
Under Asking
89 Homes Were Sold
At Asking
54 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. 52% of homes here sold below asking price last month.
Summary: A total of 298 homes were sold or pending in Sussex County in May 2024, down by 5.4% month-over-month. Of the 298 sold homes, 52% were sold under asking, 30% were sold at asking, and 18% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 52 Days | +21.6% |
Summary: Homes in Sussex County had an average of 52 days on market in May 2024, up by 21.6% compared to last year.
Breakdown of Home Sale Times
174 Homes Were Sold
Under 30 Days
70 Homes Were Sold
In 30 - 90 Days
54 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 May 2024, 298 homes were sold in Sussex County; 58% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
