The Long & Foster Market Minute
Focus On: Sussex County Housing Market March 2014
Units Sold
210
Active Inventory
3,352
Median Sale Price
$255,000
Days On Market
163
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -13%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -10%
Vs. Year Ago
Units Sold
There was an increase in total units sold in March, with 210 sold this month in Sussex County Real Estate versus 197 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 13% versus March 2013.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 719 units or 18%. The total number of active inventory this March was 3,352 compared to 4,071 in March 2013. This month's total of 3,352 is higher than the previous month's total supply of available inventory of 3,278, an increase of 2%.

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Median Sale Price
Last March, the median sale price for Sussex County Homes was $252,000. This March, the median sale price was $255,000, an increase of 1% or $3,000 compared to last year. The current median sold price is 19% 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
577
Current Contracts
330
Sold Vs. List Price
97.7%
Months of Supply
16.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 1%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -5%
Vs. Year Ago
Months of Supply
In March, there was 16.0 months of supply available in Sussex County, compared to 16.8 in March 2013. That is a decrease of 5% 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 577 homes newly listed for sale in Sussex County compared to 569 in March 2013, an increase of 1%. There were 330 current contracts pending sale this March compared to 311 a year ago. The number of current contracts is 6% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Sussex County was 97.7% of the average list price, which is 1.3% 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 182, a decrease of 10%.

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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.