A total of 1,122 housing units were sold in Delaware last month, up 10% from 1,022 one year earlier, according to new data from the Delaware Association of Realtors.
The sales increase was attributed to 17% year-over-year increase in new listings. April’s active inventory of 3,206 units marked a 27% upswing from the 2,519 units that were available in the previous year. However, the average days on market in April increased by 19% year-over-year, which the realtors group considered to be evidence of a slightly slower sales pace.
Also rising were median listing prices – $411,600, up by 5.55% – and the median sales price – $387,500, up by 6.51%.
“This April showcased a dynamic housing market in Delaware, with a surge in both listings and sales,” said George Thomasson, president of the Delaware Association of Realtors. “The significant increase in active inventory provides buyers with more choices, while rising median prices reflect the enduring value of properties in our state. However, we must acknowledge the ongoing inventory crisis, which continues to pose challenges for both buyers and sellers.
Photo: Jeremy Poland / iStock
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