$2,529 Closing Credit*
$213,000
1,250 SqFt
2 Beds
•2 Full Baths, 1 Partial
Tommy Burdett IV, Listing Office: Keller Williams Realty
Is Laurel, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Laurel was a Buyer's Market.
Key Takeaway
Laurel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Laurel, DE
How much do homes in Laurel, DE cost?
Median Sold Price
$300,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,500(+5.1%)
Key Takeaway
Homes in Laurel have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in Laurel was $300,000 in October 2024, up 5.1% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $68.6K | N/A |
| 2 Bedrooms | $232.5K | $178.7K | -23.1% |
| 3 Bedrooms | $290K | $299.9K | +3.4% |
| 4 Bedrooms | $363.7K | $355K | -2.4% |
| 5+ Bedrooms | $257K | $346K | +34.6% |
Summary: Laurel housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 34.6%.
Median Sold Price Compared To Nearby Cities
| Laurel | $285.5K | $300K | +5.1% |
| Laurel-Delmar | $309K | $310K | 0.3% |
Housing Supply in Laurel, DE
How many homes are available in Laurel, DE?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 80 | 69 | -13.8% |
Summary: The Laurel real estate market had 69 homes for sale in October 2024, a 13.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 53 | 45 | -15.1% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Laurel housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 15.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Laurel, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Laurel in October 2024, down by 26.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 7% were sold at asking, and 50% were sold over asking.
Days on Market for Laurel, DE
How long does it take to sell a home in Laurel, DE?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 154 Days | 44 Days | -70.8% |
Summary: Homes in Laurel had an average of 44 days on market in Oct 2024, down by 70.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Laurel are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in Laurel; 71% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
