November housing market report shows uptick in listings and values

The Delaware Association of Realtors reported that the housing market in November 2023 demonstrated resilience and adaptability, marked by several noteworthy trends.

A standout development was the substantial increase in new listings, marking an 18% rise. This surge in listings offered prospective buyers a broader spectrum of options, signaling a dynamic market responding to demand.

Despite a negligible change in the number of units sold, the market continued to showcase its value. Both the median listed and sold prices experienced gains, with a 6.56% increase in median listed prices and a 2.31% increase in median sold prices. These figures reflect the enduring appeal and solid investment potential of Delaware properties.

Pending units also saw a notable uptick, increasing by 9%, while active inventory expanded by 4%. These trends signify a market that is accommodating the needs of both buyers and sellers, with an array of choices available.

The average days on market increased by 15%, suggesting a pace slightly more deliberate than in previous months. This shift aligns with the broader trend of offering buyers more time to make well-considered decisions.

In summary, November 2023's housing data paints a picture of a robust and adaptive Delaware housing market. The surge in listings, along with steady price growth, demonstrates the enduring value of Delaware homes. The Delaware real estate industry continues to evolve, ensuring that both buyers and sellers find ample opportunities and support.

For data by county, go to delawarerealtor.com.