Market Update - A Local Perspective

In 2022, we saw home values across Delaware increase almost 13%. Average Days On Market (DOM) also ticked up ever so slightly across the entire state, and DOM actually went down 11% in New Castle County.

Through it all, Patterson-Schwartz Real Estate continues to be your local market leader, increasing our market share in the state of Delaware last year. You'll find more detailed information on specific segments of our market below.

And if you'd like to know how current conditions may impact your buying and selling decisions, don't hesitate to reach out.  

New Castle County, DE

New Castle County experienced a 18.2% decrease in the number of sold homes for the year 2022 compared to 2021, and an 12.3% increase in the median sales price from $285,000 to $320,000. The number of homes that went under contract in 2022 decreased 21.0% from 2021.

 

Kent County, DE

For the year 2022, Kent County experienced a 16.1% decrease in the number of sold homes compared to 2021, and a 8.9% increase in the median sales price from $280,000 to $305,000. The number of homes that went under contract in 2022 decreased 15.9% from 2021.

 

Sussex County, DE

For the year 2022, Sussex County experienced an 18.9% decrease in the number of sold homes compared to 2021, and a 14.1% increase in the median sales price from $375,000 to $427,992. The number of homes that went under contract in 2022 decreased 26.7% from 2021.

 

Southern Chester County, PA

Southern Chester County experienced a 22.8% decrease in the number of sold homes for the year 2022 compared to 2021, and a 11.6% increase in the median sales price from $460,000 to $513,420. The number of homes that went under contract in 2022 decreased 28.8% from 2021.

 

Cecil County, MD

For the year 2022, Cecil County experienced a 14.9% decrease in the number of sold homes compared to 2021, and an 5.2% increase in the median sales price from $289,992 to $305,000. The number of homes that went under contract in 2022 decreased 22.1% from 2021.

 

Reports are based on data supplied by Bright MLS.  Bright MLS does not guarantee nor is responsible for its accuracy. Data maintained by an MLS may not reflect all real estate activities in the market. Information is deemed reliable but not guaranteed. 
Data is as of 1/09/2023.

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