The Long & Foster Market Minute
Focus On: Sussex County Housing Market June 2014
Units Sold
298
Active Inventory
3,688
Median Sale Price
$280,000
Days On Market
163
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -7%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -11%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in June, with 298 sold this month in Sussex County Real Estate versus 314 last month, a decrease of 5%. This month's total units sold was lower than at this time last year, a decrease of 7% versus June 2013.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 365 units or 9%. The total number of active inventory this June was 3688 compared to 4,053 in June 2013. This month's supply remained stable as compared to last month.

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Median Sale Price
Last June, the median sale price for Sussex County Homes was $244,888. This June, the median sale price was $280,000, an increase of 14% or $35,112 compared to last year. The current median sold price is 10% 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.

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New Listings
563
Current Contracts
333
Sold Vs. List Price
97.2%
Months of Supply
12.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 29%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -2%
Vs. Year Ago
Months of Supply
In June, there was 12.4 months of supply available in Sussex County, compared to 12.6 in June 2013. That is a decrease of 2% 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 563 homes newly listed for sale in Sussex County compared to 437 in June 2013, an increase of 29%. There were 333 current contracts pending sale this June compared to 327 a year ago. The number of current contracts is 2% higher than last June.

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Sale Price to List Price Ratio
In June, the average sale price in Sussex County was 97.2% of the average list price, which is 1.0% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 163, lower than the average last year, which was 183, a decrease of 11%.

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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.