Delaware’s real estate market exhibits steady growth, characterized by rising home prices, increased inventory, and a competitive environment for buyers. Here’s a comprehensive overview:
🏡 Home Prices & Sales Activity
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Median Sale Price: In April 2025, the median sale price in Delaware was $359,900, reflecting a 2.8% increase year-over-year.
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Average Home Value: The average home value stood at $402,409, up 2.0% over the past year.
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Homes Sold: A total of 688 homes were sold in April 2025, marking a 4.2% increase compared to the same month last year.
📦 Inventory & Market Dynamics
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Active Listings: There were 2,140 homes for sale in April 2025, a 10.0% increase year-over-year.
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New Listings: The number of newly listed homes was 868, up 3.0% from the previous year.
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Months of Supply: The market had a 2-month supply of homes, indicating a seller’s market.
⏱️ Market Speed & Competitiveness
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Median Days on Market: Homes spent a median of 32 days on the market in April 2025, slightly longer than the previous year.
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Sale-to-List Price Ratio: The average sale price was 99.9% of the list price, indicating strong buyer demand.
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Homes Sold Above List Price: Approximately 37.4% of homes sold above their list price, up 2.1 percentage points year-over-year.
🌆 Regional Highlights
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New Castle County: Listings continue to move briskly, with a median of 34 days on the market, compared to the national median of 53 days.
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Kent County: The median days on the market is 59, indicating a slightly slower pace compared to other regions.
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Sussex County: Homes spend a median of 56 days on the market, reflecting a balanced market.
🔮 Market Outlook
Delaware’s housing market is expected to remain competitive throughout 2025, with tight inventory and strong buyer demand sustaining upward pressure on prices. While some regions may experience slight price adjustments, the overall trend points toward continued growth, particularly in areas offering relative affordability compared to neighboring states.