The Long & Foster Market Minute
Focus On: Sussex County Housing Market January 2015
Units Sold
220
Active Inventory
3,120
Median Sale Price
$276,250
Days On Market
185
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 24%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in January, with 220 sold this month in Sussex County Real Estate. This month's total units sold was higher than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 859 units or 22%. The total number of active inventory this January was 3,120 compared to 3,979 in January 2014. This month's total of 3,120 is lower than the previous month's total supply of available inventory of 3,136, a decrease of 1%.

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Median Sale Price
Last January, the median sale price for Sussex County Homes was $247,450. This January, the median sale price was $276,250, an increase of 12% or $28,800 compared to last year. The current median sold price is 1% lower than in December.

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
467
Current Contracts
293
Sold Vs. List Price
96.4%
Months of Supply
14.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 6%
Vs. Year Ago
Up 56%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -31%
Vs. Year Ago
Months of Supply
In January, there was 14.2 months of supply available in Sussex County, compared to 20.5 in January 2014. That is a decrease of 31% 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 467 homes newly listed for sale in Sussex County compared to 442 in January 2014, an increase of 6%. There were 293 current contracts pending sale this January compared to 188 a year ago. The number of current contracts is 56% higher than last January.

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Sale Price to List Price Ratio
In January, the average sale price in Sussex County was 96.4% of the average list price, which is 0.7% lower 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 149, an increase of 24%.

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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.