The Long & Foster Market Minute

Focus On: New Castle County Housing Market June 2021

Units Sold
806
Active Inventory
628
Median Sale Price
$310,000
Days On Market
15
Up 33%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -53%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 806 sold this month in New Castle County Real Estate versus 671 last month, an increase of 20%. This month's total units sold was higher than at this time last year, an increase of 33% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 330 units or 34%. The total number of active inventory this June was 628 compared to 958 in June 2020. This month's total of 628 is higher than the previous month's total supply of available inventory of 616, an increase of 2%.

Median Sale Price
Last June, the median sale price for New Castle County Homes was $272,000. This June, the median sale price was $310,000, an increase of 14% or $38,000 compared to last year. The current median sold price is 12% higher 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
916
Current Contracts
793
Sold Vs. List Price
101.6%
Months of Supply
0.8
Up 20%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in New Castle County, compared to 1.6 in June 2020. That is a decrease of 51% 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 916 homes newly listed for sale in New Castle County compared to 763 in June 2020, an increase of 20%. There were 793 current contracts pending sale this June compared to 743 a year ago. The number of current contracts is 7% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in New Castle County was 101.6% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 32, a decrease of 53%.

The Long & Foster Market Minute
*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.