$1,306 Closing Credit*
$110,000
1,100 SqFt
2 Beds
•2 Full Baths
Shane M Pezick, Listing Office: RE/MAX Associates-Wilmington
Is Wilmington, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Wilmington has remained a Seller's Market.
Key Takeaway
Wilmington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wilmington, DE
How much do homes in Wilmington, DE cost?
Median Sold Price
$324,340
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$23,339(+7.8%)
Key Takeaway
Homes in Wilmington have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Wilmington was $324,340 in November 2024, up 7.8% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145.7K | $162.5K | +11.5% |
| 2 Bedrooms | $215K | $225.2K | +4.8% |
| 3 Bedrooms | $285K | $304.7K | +6.9% |
| 4 Bedrooms | $444.7K | $453.8K | +2.0% |
| 5+ Bedrooms | $520K | $585K | +12.5% |
Summary: Wilmington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
| Elsmere | $226K | $267.6K | +18.4% |
| Lower Christiana | $280K | $305K | +8.9% |
| Penns Grove | $199K | $215K | +8.0% |
| Wilmington | $301K | $324.3K | +7.8% |
| Brandywine | $400K | $420.3K | +5.1% |
Housing Supply in Wilmington, DE
How many homes are available in Wilmington, DE?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 705 | 688 | -2.4% |
Summary: The Wilmington real estate market had 688 homes for sale in November 2024, a 2.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 22 | 22 | 0.0% |
| 2 Bedrooms | 130 | 125 | -3.8% |
| 3 Bedrooms | 336 | 336 | 0.0% |
| 4 Bedrooms | 169 | 158 | -6.5% |
| 5+ Bedrooms | 48 | 47 | -2.1% |
Summary: The Wilmington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes decreased by 2.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 206 | 168 | -18.4% |
Asking Price vs. Sold Price
54 Homes Were Sold
Under Asking
43 Homes Were Sold
At Asking
71 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wilmington, you could pay more than the asking price. 42.3% of homes here sold above asking price last month.
Summary: A total of 168 homes were sold or pending in Wilmington in November 2024, down by 18.4% month-over-month. Of the 168 sold homes, 32% were sold under asking, 26% were sold at asking, and 42% were sold over asking.
Days on Market for Wilmington, DE
How long does it take to sell a home in Wilmington, DE?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 34 Days | +83.1% |
Summary: Homes in Wilmington had an average of 34 days on market in Nov 2024, up by 83.1% compared to last year.
Breakdown of Home Sale Times
130 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wilmington are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 168 homes were sold in Wilmington; 77% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
