The Long & Foster Market Minute

Focus On: Milton, Georgetown, and Northeastern Sussex County Housing Market June 2021

Zip Code(s): 19968, 19947, 19963, 19960, 19941 and 19951
Units Sold
133
Active Inventory
183
Median Sale Price
$340,000
Days On Market
36
Up
Vs. Year Ago
Down -56%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 133 sold this month in Milton, Georgetown, and Northeastern Sussex County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 229 units or 56%. The total number of active inventory this June was 183 compared to 412 in June 2020. This month's total of 183 is higher than the previous month's total supply of available inventory of 180, an increase of 2%.

Median Sale Price
Last June, the median sale price for Milton, Georgetown, and Northeastern Sussex County Homes was $302,500. This June, the median sale price was $340,000, an increase of 12% or $37,500 compared to last year. The current median sold price is 2% lower than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
156
Current Contracts
138
Sold Vs. List Price
102.4%
Months of Supply
1.4
Up 39%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -71%
Vs. Year Ago

Months of Supply
In June, there was 1.4 months of supply available in Milton, Georgetown, and Northeastern Sussex County, compared to 4.7 in June 2020. That is a decrease of 71% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 156 homes newly listed for sale in Milton, Georgetown, and Northeastern Sussex County compared to 112 in June 2020, an increase of 39%. There were 138 current contracts pending sale this June compared to 145 a year ago. The number of current contracts is 5% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Milton, Georgetown, and Northeastern Sussex County was 102.4% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 67, a decrease of 46%.

The Long & Foster Market Minute Milton, Georgetown, and Northeastern Sussex County are defined as properties listed in zip code/s 19968, 19947, 19963, 19960, 19941 and 19951.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.