The Long & Foster Market Minute

Focus On: Sussex County Housing Market June 2021

Units Sold
625
Active Inventory
831
Median Sale Price
$397,039
Days On Market
29
Up 28%
Vs. Year Ago
Down -58%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -69%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 625 sold this month in Sussex County Real Estate versus 540 last month, an increase of 16%. This month's total units sold was higher than at this time last year, an increase of 28% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,141 units or 58%. The total number of active inventory this June was 831 compared to 1,972 in June 2020. This month's total of 831 is higher than the previous month's total supply of available inventory of 810, an increase of 3%.

Median Sale Price
Last June, the median sale price for Sussex County Homes was $349,900. This June, the median sale price was approximately the same at $397,039. The current median sold price is 13% higher than in June 2020.

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


New Listings
777
Current Contracts
648
Sold Vs. List Price
101.2%
Months of Supply
1.3
Up 21%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Down -67%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Sussex County, compared to 4.0 in June 2020. That is a decrease of 67% 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 777 homes newly listed for sale in Sussex County compared to 643 in June 2020, an increase of 21%. There were 648 current contracts pending sale this June compared to 824 a year ago. The number of current contracts is 21% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Sussex County was 101.2% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 95, a decrease of 69%.

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.