Sussex County, Delaware Market Update December 2024
- Nicholas Scroggs
- Dec 9, 2024
- 1 min read
Market Overview
The Sussex County real estate market has experienced modest growth over the past year. As of November 2024, the median home sold price was approximately $484,886, reflecting a 1.5% increase compared to November 2023.
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Inventory and Sales
Active Listings: There were 1,796 active listings in October 2024, up 19% from 1,511 in October 2023.
Homes Sold: In October 2024, 481 homes were sold, marking a 19% increase from the same month last year.
Days on Market
Homes in Sussex County had an average of 52 days on the market in November 2024, a slight decrease from 54 days in November 2023.
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Key Takeaways for Buyers and Sellers
For Buyers: With an increase in active listings, buyers have more options to choose from. However, homes are selling relatively quickly, so it's advisable to be prepared with pre-approval and a clear understanding of your budget.
For Sellers: The rise in median home prices indicates a favorable market for sellers. Pricing your home competitively and ensuring it is market-ready can lead to quicker sales.
As Sussex County continues to grow, the real estate market remains robust, offering opportunities for both buyers and sellers. Whether you're looking to purchase a new home or sell your current property, now is an opportune time to engage with the market.
Note: All data is sourced from recent market reports and is accurate as of November 2024.
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