The Long & Foster Market Minute
Focus On: Sussex County Housing Market February 2015
Units Sold
217
Active Inventory
3,275
Median Sale Price
$260,000
Days On Market
185
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 6%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 18%
Vs. Year Ago
Up 6%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in February, with 217 sold this month in Sussex County Real Estate versus 230 last month, a decrease of 6%. This month's total units sold was higher than at this time last year, an increase of 6% versus February 2014.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 764 units or 19%. The total number of active inventory this February was 3,275 compared to 4,039 in February 2014. This month's total of 3,275 is higher than the previous month's total supply of available inventory of 3,181, an increase of 3%.

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Median Sale Price
Last February, the median sale price for Sussex County Homes was $220,000. This February, the median sale price was $260,000, an increase of 18% or $40,000 compared to last year. The current median sold price is 6% lower than in January.

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
541
Current Contracts
287
Sold Vs. List Price
98.4%
Months of Supply
15.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 19%
Vs. Year Ago
Up 29%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -23%
Vs. Year Ago
Months of Supply
In February, there was 15.1 months of supply available in Sussex County, compared to 19.7 in February 2014. That is a decrease of 23% 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 541 homes newly listed for sale in Sussex County compared to 455 in February 2014, an increase of 19%. There were 287 current contracts pending sale this February compared to 222 a year ago. The number of current contracts is 29% higher than last February.

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Sale Price to List Price Ratio
In February, the average sale price in Sussex County was 98.4% of the average list price, which is 2.2% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 185, higher than the average last year, which was 174, an increase of 6%.

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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.