The Long & Foster Market Minute
Focus On: Sussex County Housing Market April 2015
Units Sold
286
Active Inventory
3,533
Median Sale Price
$262,369
Days On Market
156
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -1%
Vs. Year Ago
Down -17%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -11%
Vs. Year Ago
Units Sold
There was an increase in total units sold in April, with 286 sold this month in Sussex County Real Estate versus 275 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 1% versus April 2014.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 735 units or 17%. The total number of active inventory this April was 3,533 compared to 4,268 in April 2014. This month's total of 3,533 is higher than the previous month's total supply of available inventory of 3,456, an increase of 2%.

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Median Sale Price
Last April, the median sale price for Sussex County Homes was $270,000. This April, the median sale price was $262,369, a decrease of 3% or $7,631 compared to last year. The current median sold price is 4% lower than in March.

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
698
Current Contracts
407
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 2%
Vs. Year Ago
Up 34%
Vs. Year Ago
No Change
Vs. Year Ago
Down -17%
Vs. Year Ago
Months of Supply
In April, there was 12.4 months of supply available in Sussex County, compared to 14.8 in April 2014. That is a decrease of 17% 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 698 homes newly listed for sale in Sussex County compared to 683 in April 2014, an increase of 2%. There were 407 current contracts pending sale this April compared to 303 a year ago. The number of current contracts is 34% higher than last April.

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Sale Price to List Price Ratio
In April, the average sale price in Sussex County was 97.2% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 156, lower than the average last year, which was 176, 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.