The Long & Foster Market Minute
Focus On: Sussex County Housing Market December 2014
Units Sold
332
Active Inventory
3,073
Median Sale Price
$282,500
Days On Market
172
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 10%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 13%
Vs. Year Ago
Units Sold
There was an increase in total units sold in December, with 332 sold this month in Sussex County Real Estate versus 285 last month, an increase of 16%. This month's total units sold was higher than at this time last year, an increase of 10% versus December 2013.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 825 units or 21%. The total number of active inventory this December was 3,073 compared to 3,898 in December 2013. This month's total of 3,073 is lower than the previous month's total supply of available inventory of 3,455, a decrease of 11%.

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Median Sale Price
Last December, the median sale price for Sussex County Homes was $272,107. This December, the median sale price was $282,500, an increase of 4% or $10,393 compared to last year. The current median sold price is 13% higher than in November.

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
282
Current Contracts
255
Sold Vs. List Price
97.6%
Months of Supply
9.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 16%
Vs. Year Ago
Up 21%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -28%
Vs. Year Ago
Months of Supply
In December, there was 9.3 months of supply available in Sussex County, compared to 12.9 in December 2013. That is a decrease of 28% 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 282 homes newly listed for sale in Sussex County compared to 244 in December 2013, an increase of 16%. There were 255 current contracts pending sale this December compared to 210 a year ago. The number of current contracts remained stable as compared to last December.

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Sale Price to List Price Ratio
In December, the average sale price in Sussex County was 97.6% of the average list price, which is 0.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 172, higher than the average last year, which was 152, an increase of 13%.

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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.