The Long & Foster Market Minute
Focus On: Sussex County Housing Market September 2014
Units Sold
299
Active Inventory
3,646
Median Sale Price
$259,500
Days On Market
141
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -7%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -15%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in September, with 299 sold this month in Sussex County Real Estate versus 301 last month, a decrease of 1%. This month's total units sold was lower than at this time last year, a decrease of 7% versus September 2013.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 301 units or 8%. The total number of active inventory this September was 3,646 compared to 3,947 in September 2013. This month's total of 3,646 is lower than the previous month's total supply of available inventory of 3,731, a decrease of 2%.

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Median Sale Price
Last September, the median sale price for Sussex County Homes was $302,450. This September, the median sale price was $259,500, a decrease of 14% or $42,950 compared to last year. The current median sold price is 2% lower than in August.

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
527
Current Contracts
362
Sold Vs. List Price
95.2%
Months of Supply
12.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -8%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -1.6%
Vs. Year Ago
No Change
Vs. Year Ago
Months of Supply
In September, there was 12.2 months of supply available in Sussex County. The amount of supply is similar compared to 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 527 homes newly listed for sale in Sussex County compared to 572 in September 2013, a decrease of 8%. There were 362 current contracts pending sale this September compared to 323 a year ago. The number of current contracts is 12% higher than last September.

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Sale Price to List Price Ratio
In September, the average sale price in Sussex County was 95.2% of the average list price, which is 1.5% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 141, lower than the average last year, which was 166, a decrease of 15%.

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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.