The Long & Foster Market Minute

Focus On: New Castle, Red Lion, and Delaware City Housing Market June 2021

Zip Code(s): 19720 and 19706
Units Sold
62
Active Inventory
49
Median Sale Price
$225,000
Days On Market
10
Up 2%
Vs. Year Ago
Down -40%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -73%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 62 sold this month in New Castle, Red Lion, and Delaware City Real Estate versus 67 last month, a decrease of 7%. This month's total units sold was higher than at this time last year, an increase of 2% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 32 units or 40%. The total number of active inventory this June was 49 compared to 81 in June 2020. This month's total of 49 is lower than the previous month's total supply of available inventory of 50, a decrease of 2%.

Median Sale Price
Last June, the median sale price for New Castle, Red Lion, and Delaware City Homes was $217,000. This June, the median sale price was $225,000, an increase of 4% or $8,000 compared to last year. The current median sold price is 2% 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
87
Current Contracts
77
Sold Vs. List Price
102.3%
Months of Supply
0.8
Up 10%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 2.9%
Vs. Year Ago
Down -41%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in New Castle, Red Lion, and Delaware City, compared to 1.3 in June 2020. That is a decrease of 40% 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 87 homes newly listed for sale in New Castle, Red Lion, and Delaware City compared to 79 in June 2020, an increase of 10%. There were 77 current contracts pending sale this June compared to 74 a year ago. The number of current contracts is 4% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in New Castle, Red Lion, and Delaware City was 102.3% of the average list price, which is 2.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, lower than the average last year, which was 37, a decrease of 73%.

The Long & Foster Market Minute New Castle, Red Lion, and Delaware City are defined as properties listed in zip code/s 19720 and 19706.
*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.