Sussex County, DE Real Estate Market Report – February 2025 🏡📈

As we move into 2025, the real estate market in Sussex County, Delaware, continues to evolve, with home prices rising and inventory levels increasing. Whether you're a buyer, seller, or investor, staying on top of these trends can help you make the best decisions! Let's dive into the latest updates. 👀

Market Overview 📊

• Median Sale Price: 💰 $517,450, a 4% increase from January 2024.

• Homes Sold: 🔥 312 properties closed, reflecting an 8% rise from last year.

• Active Listings: 🏠 1,548 homes on the market, up 8% year-over-year.

• Median Days on Market: ⏳ 64 days, slightly longer than last year (+5 days).

Sussex County Housing Market by City 🏙️

• Lewes: 🏖️ Median sold price of $596,379 (-1% from last year).

• Rehoboth Beach: 🌊 Median home value of $777,400.

• Millsboro: 🏡 Median home value of $376,400.

• Milton: 🌳 Median home value of $459,286.

• Georgetown: 🏘️ Median home value of $343,137.

Market Trends & Insights 🔍

• Sale-to-List Price Ratio: 📉 Homes are selling for about 97.8% of the listing price, giving buyers some room for negotiation.

• Months of Supply: 🏠⏳ The market has 5.0 months of inventory, indicating a balanced market between buyers and sellers.

What This Means for Buyers & Sellers 🤔

For buyers: With more inventory available, you have more options, but home values continue to rise. Work with a knowledgeable real estate agent to find the best deals. 💡

For sellers: Home prices are strong, but slightly longer days on the market mean you should price competitively and consider home staging to attract buyers faster. 🚀

Final Thoughts 💭

Sussex County remains a fantastic place to buy, sell, or invest. With a balanced market and steady growth, it's a great time to plan your next real estate move. 📈🏡

Need expert advice on navigating the Sussex County market? Reach out today – let's make your real estate goals a reality! ✨