Delaware housing market active inventory takes a dip in July

A report from the Delaware Association of Realtors shows this July brought notable changes in the state’s housing market. One clear trend was homes taking a bit longer to sell. The extended duration on the market offered buyers additional time for decision-making, suggesting a shift toward a more balanced market.

Despite the decrease in new listings and unit sales, property values showed stability. Median prices across Delaware remained robust, indicating the consistent demand for and value of homes in the state.

However, a key observation was the dip in active inventory. This reduction deviates from the trend seen in the earlier months of 2023, when inventory was steadily growing. The limited availability of homes can potentially influence buyer decisions and market dynamics in the coming months.

In sum, while the Delaware housing market continues to adapt to changing conditions, the decline in active inventory is a trend to monitor closely. The state's real estate sector remains committed to supporting both buyers and sellers through these variations.

A comparison of the July 2022/July 2023 data is provided in the accompanying chart. 

For data by county, go to delawarerealtor.com.