Delaware housing market sees surge in listings and sales for April

The Delaware housing market experienced significant growth this April compared to the same period last year, according to the latest data from the Delaware Association of Realtors. Despite this, the state continues to grapple with an ongoing inventory crisis, highlighting the complexities of the current market dynamics.

Compared to last April, this past month saw a remarkable 17% increase in new listings, signaling a surge in seller confidence and activity. In tandem with the increase in listings, units sold also saw a notable uptick, rising by 10%, reflecting strong demand from buyers.

Median prices also continued their upward trajectory, with the median listed price increasing by 5.55% and the median sold price rising by 6.51%. These increases underscore the continued appreciation of property values in Delaware.

Pending units also saw a healthy increase of 10%, indicating ongoing buyer interest and demand. The active inventory expanded significantly by 27%, providing a wider selection of homes for buyers to choose from.

However, the average days on market increased by 19%, suggesting a slightly slower pace in the selling process, possibly due to increased inventory and more options for buyers.

"This April showcased a dynamic housing market in Delaware, with a surge in both listings and sales," said George Thomasson, Delaware Association of Realtors president. "The significant increase in active inventory provides buyers with more choices, while rising median prices reflect the enduring value of properties in our state. However, we must acknowledge the ongoing inventory crisis, which continues to pose challenges for both buyers and sellers."

For details, go to delawarerealtor.com/buyers-and-sellers/monthly-housing-statistics/.