The Long & Foster Market Minute
Focus On: Sussex County Housing Market March 2016
Units Sold
268
Active Inventory
3,229
Median Sale Price
$280,995
Days On Market
162
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -5%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -1%
Vs. Year Ago
Units Sold
There was an increase in total units sold in March, with 268 sold this month in Sussex County Real Estate versus 206 last month, an increase of 30%. This month's total units sold was lower than at this time last year, a decrease of 5% versus March 2015.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 46 units or 1%. The total number of active inventory this March was 3,229 compared to 3,183 in March 2015. This month's total of 3,229 is higher than the previous month's total supply of available inventory of 3,112, an increase of 4%.

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Median Sale Price
Last March, the median sale price for Sussex County Homes was $272,610. This March, the median sale price was $280,995, an increase of 3% or $8,385 compared to last year. The current median sold price is 8% higher than in February.

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

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New Listings
665
Current Contracts
388
Sold Vs. List Price
97.2%
Months of Supply
12.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 14%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Up 6%
Vs. Year Ago
Months of Supply
In March, there was 12.0 months of supply available in Sussex County, compared to 11.3 in March 2015. That is an increase of 6% 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.

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New Listings & Current Contracts
This month there were 665 homes newly listed for sale in Sussex County compared to 581 in March 2015, an increase of 14%. There were 388 current contracts pending sale this March compared to 341 a year ago. The number of current contracts is 14% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Sussex County was 97.2% of the average list price, which is 1.1% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 162, lower than the average last year, which was 163, a decrease of 1%.

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*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 SCAOR 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 SCAOR or Long & Foster Real Estate, Inc.